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Think you understand Medicare? 87% of beneficiaries failed this basic test
Most Medicare beneficiaries overestimate their understanding of coverage options. Only 13% correctly identify key Medicare types, and many are unaware that Original Medicare lacks an annual out-of-pocket cap and typically requires 20% coinsurance. Medicare Advantage plans vary widely in networks, costs, and benefits. Reviewing plan changes annually and comparing options can help avoid surprise costs and better meet health and financial needs.