New study finds that majority of middle-income Americans admit to knowing little about the Medicare program.

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

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