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questions. Everybody gets Medicare Part A at age 65, which is hospitalization. If you want to be covered for outpatient care you can buy Medicare Part B, which costs me $96 a month. There is a $100 deductible and 20% copays of the agreed upon fee between doctors and Medicare. I also have an insurance policy from United Health Care to plug the gaps in coverage that costs me $256 a month and goes up every year :-( Medicare Part D for drugs costs around $30 a month depending on what plan you get. It's a big rip off all around because Big PhRMA wrote the bill so I don't have it. You can opt out of traditional Medicare it if you get a Medicare Advantage plan from a private insurance or if you have a spouse whose insurance is willing to insure you after 65. I don't suggest it because then you are stuck with the HMO that you are put into and you lose all your Medicare rights. FICA or P/R tax pays for the rest of Medicare. I believe it's 5.25% of the 7.5% deducted from everyone's pay check but I'm not sure because I'm not really current on it. You get the idea though.
Option means you can choose so it won't be mandatory that you have to have the option unless of course you are 65 and don't have the above other described other plans to choose from.
As to your last question, no one seems to know yet, how it will be paid for. Obama talks about taxing the wealthy, but we will see.
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