Medicare Myths and Misconceptions.

There are many different places to find Medicare information on the Internet, and with that arises a number of falsehoods and misconceptions. Scott Maibor at MedicarePlans.com examines the most common Medicare myths:

Medicare Part A is required when you turn age 65. "It is not required and you will not be penalized if you don't have it."

Medicare is free. "No. Part A has no premium if you, or your spouse, have 40+ quarters of work in the U.S. If you have less you may be eligible for Part A but will pay a sliding premium based upon the number of quarters. Part B has a standard premium of $170.10/mo/pp. This can be adjusted based on income."

All Medicare plans are from the Federal government. "No. The Federal government only applies Parts A and B. All other Medicare plans are from private insurance carriers and most have premiums."

You cannot have a Health Savings Account (HSA) if you have Medicare. "You are welcome to have an HSA and can use it to pay your Medicare premiums and other medical expenses. However, you cannot contribute to your HSA, and neither can your spouse or employer, six months prior to enrolling in Medicare."

I cannot have Medicare if I am working full time. "Medicare is available to...