Medicare Scoop

Medicare Planning Strategy

Request a presentation with the above handout.

LOW INCOME: Medicare may give people access to medical coverage, but there are still many expenses that beneficiaries are responsible for. These expenses can add up from monthly premiums, co-pays, co-insurance, and prescription drug costs. For beneficiaries with limited income and resources, this can be a burden and prevent them from getting the care they need. People on limited incomes could get help paying for Medicare costs through Medicare Savings Programs. 

HIGH INCOME: Medicare beneficiaries with high incomes—specifically over $109,000 for individuals or $218,000 for married couples filing jointly (based on 2026, using 2024 tax data)—pay higher premiums for Parts B and D, known as the Income-Related Monthly Adjustment Amount (IRMAA). These surcharges apply to Medicare Advantage plans as well, and are based on your Modified Adjusted Gross Income (MAGI).

Medicare Supplement Insurance (Medigap) is private insurance designed to cover out-of-pocket costs—such as deductibles, copayments, and coinsurance—not paid by Original Medicare. It requires enrollment in Medicare Parts A and B, with plans (A-N) offering standardized benefits, most commonly F, G, and N. Key benefits include lower unexpected medical expenses, with costs varying by plan and location.