One of the biggest misconceptions you might come across in the context of Medicare is that the program is free for seniors. While it's true that Medicare Part A, which covers hospital care, generally doesn't cost money to have coverage, parts B and D do charge enrollees a premium on a monthly basis. Medicare Part B covers general outpatient care, while Part D covers prescription drugs.

Each year, there's a standard premium set for Medicare Part B. In 2024, it will be $174.70 per month. That's up from $164.90 at present. There's no standard monthly premium for Part D because that number can vary from one plan to the next.

Some seniors, however, get charged extra for their Medicare Part B and Part D coverage. If that happens to you, it's important to know that you might have a way out of paying those surcharges -- but only under specific circumstances.

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Source Fool.com