A new study of 400 pre-Medicare Boomers reveals widespread ignorance regarding the particulars of the Medicare program.

The study, by the Bankers Life and Casualty Company’s Center for a Secure Retirement, found that 56% of respondents admitted to knowing little or almost nothing about the Medicare program, while 13% falsely believe Medicare is free. Indeed, 72% of Boomers did not know that most Americans on Medicare pay a monthly premium, co-pays and deductibles.

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