Medicare Health Insurance part 2

Medicare Health Insurance part 2

Medicare Health Insurance

Medicare Health Insurance

Medicare Health Insurance

 

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  1. Your initial enrollment in Medicare is time sensitive.

    • The Initial Enrollment Period (IEP) is your first chance to enroll in Medicare. It’s the three months before your 65th birthday month, the month of your birthday, and the three months after your birthday month.
    • If you are eligible for Medicare due to disability, your IEP is based on your disability date.
    • Late enrollment penalties may be incurred for missing certain enrollment periods for Part B and prescription drug coverage.
  2. Your health care needs may change over time.

    • After you choose your Medicare coverage, you can make changes once a year during Medicare Open Enrollment, October 15 through December 7.
    • You may change your coverage at certain other times if you qualify for a Special Enrollment Period.
    • Review your coverage each year to see if it still fits your needs.
    • These enrollment period restrictions do not apply to Medicare supplement insurance.
  3. Special Enrollment Period (SEP).

    • In some cases you may be able to enroll in or switch plans at times besides your IEP or Medicare Open Enrollment.
    • You may qualify for an SEP if you retire and leave a health care plan sponsored by your employer or union.
    • You can usually use an SEP to change your coverage if you move out of your current plan’s service area.
  4. Medicare can work with other health insurance.

    • Group or retiree health insurance sponsored by an employer or union can work with Medicare.
    • Your plan administrator can help you figure out how Medicare could work with your current coverage.
    • Medicare supplement plans work with Original Medicare, but not with Medicare Advantage plans.
  5. Help is available.

    • Medicare can be complicated, but help is available.
    • You may qualify for financial help.
 This was part 2 of things you need to know about Medicare Health Insurance. If you have any questions give me a call at (475) 88CARLY / (475) 882-2759
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Secondary Insurance for Medicare

Secondary Insurance for Medicare

There are going to be 2 different types of Secondary insurance for Medicare. The two different types are an Advantage plan, and a Supplement plan. They are two totally different types of insurance. But let’s talk about what the difference is between these.

 

Medicare Advantage Plans

Medicare Advantage Plans

Advantage Plans

An Advantage plan is going to be one of the secondary insurance plans for Medicare. Now depending on what insurance company you go with will decide on how good of coverage you get for this type of plan. With Advantage plans you will be in a network with your doctor, so you will have to make sure your doctor is in the network before you buy the plan. With this type of plan you might pay less for the plan itself but in the long run you might have a high deductible, and/or a maximum out-of-pocket cost. And I have seen them go up to $6700 a year. So before you buy a plan like this make sure you are looking into every detail of it. Because another thing about this type of plan is that you can only get this type of plan one time out of the year. Once you are enrolled in the plan you can not get out of it until the Annual Enrollment period in October. Now of course there are a few ways that you can switch during the year. But if you want more information on that you can give me a call directly at 901-KORTNI8.

 

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Supplement Plans

Medicare supplement plans are going to be a lot different than the Advantage plans. If you were to get a Supplement plan as your secondary insurance for Medicare then you have to look only at a few things. The cost is going to be more than the Advantage plans and let me tell you why. There is a Medicare Supplement plan out there right now that will cover you 100% after Medicare. Now you will pay more for this plan but you will be covered. With Medicare Supplement plans you are not in a network for you doctors. As long as your doctor accepts Medicare then they have to accept your Medicare Supplement plan. These plans are standardized. That means that it doesn’t matter what insurance company you go with the plan benefits will stay the same. So what you will want to do is find out what insurance company is offering the best rate for each plan. And find out what plan best fits your situation.

 

If you are ready to get signed up for your Secondary Insurance for Medicare then you can give me a call here at 1-800-Medigap, or you can reach me directly at 901-KORTNI8. I am a licensed broker and I can see multiple companies and what each of them offer for these plans.

Most popular Medicare Supplement plans

Most popular Medicare Supplement plans

Most popular Medicare Supplement plans

Most popular Medicare Supplement plans

Medicare Supplement Plans

The most popular Medicare Supplement plans in the Medicare field would have to be plan F, G and N. These plans are all different but they are the most popular plans out there. Now be low I will tell you all the differences between all the plans and why they are the most popular ones. Now with these Medicare Supplement plans you can go to any doctor you want as long as the doctor accept Medicare. You don’t have to worry about if your doctor is going to cover you or if the doctor is in your network. Because with these plans your not in a network.

 

Plan F

Now Medicare Supplement plan F is going to be the best plan that you can get. It is going to cover you 100%. With this plan you will have no out-of-pocket expenses except for your monthly premium. You will not be responsible for Copayments, Coinsurance, or deductible’s. Now the Plan F is going to be a plan for someone who has a few health conditions but nothing too major, because I’m sure most of you know the Medicare Supplement plans are medically underwritten. This is going to be the most expenses plan there is in most cases.

 

Plan G

With Medicare Supplement plan G there is a slight difference between this and plan F. The only difference is that with Medicare Supplement plan G you will be responsible for the Part B deductible and the monthly premium. There are no Copayments, or Coinsurance expenses. With the Plan G this plan is going to be for someone who may have a couple of health conditions but not enough to really have to be paying a lot of out pocket for it. This will be the best priced plan that there is. This plan can save you more sometimes rather than going with the plan F even though you have the Part B deductible.

 

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Plan N

Now with Medicare Supplement plan N there are going to be some more differences between them. Starting with the deductible you will be responsible for the part B deductible just like plan G. Also with this plan depending on what state you live in you could be responsible for the Part B Excess charges. What that means is that by law your doctor can charge you 15% more of the Medicare-Approved charges. With this plan N you could have up to a $20 copay at some doctors visits, and a $50 copay at the ER if you do NOT get admitted into the hospital. This plan N is going to be for someone who either can’t afford a better plan or they just don’t go to the doctor a whole lot but want to be safe just in case.

 

What I like to tell all of my clients is that if you can somehow afford to get a Medicare Supplement plan then I would. Because we never know what the future holds for us. Something could come up any day without any notice. You wouldn’t want to be the person who ends up having cancer and then try to get on a Medicare Supplement plan and get declined do you? So I would advise everyone that your health matters take care of yourself and get good insurance to cover you just in case something comes up! YOU NEVER KNOW!

 

So if your ready to get signed up for your Medicare Supplement plan today then give me directly a call here at 1-800-Medigap! I am a licensed broker and I can look at a variety of insurance companies to see who is offering the best rate for these plans! You can reach me at 901-KORTNI8

5 More Things You Need To Know About Medicare

5 More Things You Need To Know About Medicare

Yesterday I did the 5 Things you Need to know about Medicare so today I will follow up with 5 More Things You Need To Know About Medicare. Before just settling down with Medicare you need to make sure all your bases are covered. So here are 5 More Things You Need To Know About Medicare

1. Some Medicare Advantage plans are better than others.

Medicare Advantage plans are evaluated based on criteria such as customer satisfaction and quality of care. Plans receive between one and five stars, depending on their scores. Five-star plans have the highest scores, and you can switch into a five-star plan most of the year—not just during open enrollment. Learn how the plans in your area rank here .

2. You will probably need Medigap insurance.

You can rack up some hefty out-of-pocket costs with the deductibles and copayments required under original Medicare. For instance, a 10-day hospital stay could cost you more than $12,000. A supplemental insurance policy, called Medigap, helps pay for the unpaid balance of Medicare charges. These secondary insurance polices only reimburses for charges that Medicare (the primary coverage) approved, including deductibles, copayments and coinsurance. However, you can’t use a Medigap plan to pay for Medicare Advantage plan costs.

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3. You should check to see whether your drugs are covered.

All prescription drug plans and Medicare Advantage plans have drug formularies, which list the medications they cover. The drugs are sorted into tiers based on their cost and effectiveness. The higher the tier, the higher your copayment. To learn whether your medication is covered—and how much it will cost—contact your prescription drug plan or Medicare Advantage company. Many plans post their formularies online.

4. You have protections and rights under Medicare.

These include the right to be treated with dignity and respect at all times, to be protected from discrimination, and to have your personal and health information kept private. You can also get emergency care when and where you need it, appeal payment or coverage decisions, and file complaints if you’re unhappy with the care you receive.

5. Medicare doesn’t cover long-term care.

70% of us will need long-term care at some point. This includes help with daily activities, like bathing and cooking, as well as some medical care. Neither Medicare nor most health insurance plans, including Medigap, cover this type of care. If you’re worried about costs, check into long-term care insurance. Most people who can’t afford long-term care eventually qualify for Medicaid, government health insurance for the poor.

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Anthem Medicare Supplemental Insurance

Anthem Medicare Supplemental Insurance

Anthem Medicare Supplemental Insurance is no different from any other insurance companies when it comes to the Medicare Supplement plans. With Anthem Insurance they only cover certain states. You can see the states that are covered here: California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, New, Hampshire, Nevada, New York, Ohio, Virginia, Wisconsin.

Medicare Supplemental Plans

With Medicare Supplement plans it doesn’t matter what insurance company you go with, the plan benefits will stay the same. The only thing that can change is the price of the plans. So what you will want to do is look into who is offering the cheapest rate for their plans.

Plan A

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursing Facility Co-Insurance NO

Part A Deductible NO

Part B Deductible NO

Part B Excess NO

Foreign Travel Benefit NO

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit  NONE

Plan B

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood  YES

Part B Co-Insurance YES

Hospice Co-Insurance  YES

Skilled Nursing Facility Co-Insurance NO

Part A Deductible YES

Part B Deductible NO

Part B Excess NO

Foreign Travel Benefit NO

Preventive Care Co-Insurance  YES

Out-Of-Pocket Limit NONE

Plan C

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursring Facility Co-Insurance  YES

Part A Deductible YES

Part B Deductible YES

Part B Excess NO

Foreign Travel Benefit YES

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit NONE

Plan D

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YEA

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursing Facility Co-Insurance YES

Part A Deductible YES

Part B Deductible  NO

Part B Excess NO

Foreign Travel Benefit YES

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit NONE

Plan F

Part A hospital Co-Insurance  YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursing Facility Co-Insurance YES

Part A Deductible YES

Part B Deductible YES

Part B Excess YES

Foreign Travel Benefit YES

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit NONE

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Plan G

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursring Facility Co-Insurance YES

Part A Deductible YES

Part B Deductible NO

Part B Excess YES

Foreign Travel Benefit YES

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit NONE

Plan K

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood 50%

Part B Co-Insurance  50%

Hospice Co-Insurance  50%

Skilled Nursing Facility Co-Insurance  50%

Part A Deductible  50%

Part B Deductible NO

Part B Excess NO

Foreign Travel Benefit NO

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit $4,620

Plan L

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood 75%

Part B Co-Insurance 75%

Hospice Co-Insurance 75%

Skilled Nursing Facility Co-Insurance  75%

Part A Deductible 75%

Part B Deductible  NO

Part B Excess  NO

Foreign Travel Benefit YES 

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit $2310

Plan M

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance YES

Hospice Co-Insurance YES

Skilled Nursing Facility Co-Insurance YES 

Part A Deductible 50%

Part B Deductible NO

Part B Excess NO

Foreign Travel Benefit YES 

Preventive Care Co-Insurance YES 

Out-Of-Pocket Limit NONE

Plan N

*THIS PLAN HAS $20 CO-PAY FOR DOCTORS VISITS AND $50 FOR ER VISITS*

Part A hospital Co-Insurance YES

365 Additional Hospital Reserve days YES

Benefit For Blood YES

Part B Co-Insurance * CO-PAYS

Hospice Co-Insurance YES

Skilled Nursing Facility Co-Insurance YES

Part A Deductible YES

Part B Deductible NO

Part B Excess NO

Foreign Travel Benefit YES

Preventive Care Co-Insurance YES

Out-Of-Pocket Limit NONE

 

If you have any questions please feel free to give me a call here at 1-800-Medigap/1-800-633-4427 or you can reach me directly at 901-KORTNI8. I am a Licensed Broker, which means I can look at multiple companies to see who is offering the cheapest rates for these plans.

Lost or Damaged Medicare card?

Lost or Damaged Medicare card?

Your red, white, and blue Medicare card is proof that you are enrolled in Original Medicare. It is the most important piece of identification you own as a Medicare beneficiary, and you will generally need your Medicare card in order to receive Medicare-covered services. Needing to replace your card? There are a few reasons someone might need or want to replace their card.

 

Reasons to get a new medicare card.

If your card is lost, stolen, or damaged you will need to get a replacement card. If you have changed your address just before your card’s expiry you’ll need to request a replacement card.Medicare will send you a new Medicare card before your card expires. your new card will be sent a month before the old one expires.

 

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If your card expired

If your card expired more than 6 months ago, you will need to visit your local service centre to request a replacement card. You’ll need to provide identity documents, such as your drivers licence, and you may need to confirm your residency with a document such as your utility bill, rental agreement or employment contract.

How to get your replacement Medicare Card

you can replace it by calling the National Social Security Hotline at 800-772-1213. You can also apply for a new card online or go to your local Social Security office.

To get a new card, you will need to provide your

  • name as it appears on your most recent Social Security card;
  • Social Security number; and
  • date of birth.

 

Do you have more questions about Medicare or Medigap plans? Give me a call at (475) 88CARLY / (475) 882-2759.

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Medigap Insurance and Suppelment Plans

Medigap Insurance and Suppelment Plans

Medigap-Insurance

Medigap-Insurance

 

Saying there is a lot to learn about Medigap Insurance is an understatement, but there is help, and we are here to do so. There are ten standardized plans by the government when it comes to choosing a Medigap plan. They are named by a single letter. One of the greatest parts about Medigap plans is that they don’t work in an HMO or PPO network. A doctor or hospital that accept your Medicare card by law then must take your Medigap Plan as well.

Plans

There are three plans that I would consider as the top plans. They are as follow F, G, and N. With all Medigap insurance plans, you have to go through medical underwriting. Unless you have just started Medicare or taken Part B for the first time you are in your Open Enrollment time. If you are being dropped by an Employer/Group plan or you have moved out of your advantage plan network.Then you are Guaranteed Issue. That means you would not have to go through medical underwriting.

Plan F

To start, I will go over the Plan F and what it covers. Now this plan is what I would consider as the “Cadillac Plan” if you will. Other than passing underwriting to get this plan all you will have is a monthly premium. After that, this Medigap plan will cover you 100% of all the procedures approved by medicare. That will cover all of your doctor visits and all hospital visits.

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Plan G

The next Supplement plan is known as the Plan G. This plan is very similar to the plan F, the only difference is a once yearly Part B deductible. You will still have a monthly premium, but once you meet your deductible and pay your premium you are 100% covered for any medical treatment that is approved by medicare.

Plan N

Lastly, the plan that I would recommend is a Medigap plan N. This plan is somewhat different than the other plans I have talked about because this plan does have copayments and leaves you open to a few out of pocket expenses. Although, this type of plan can be exactly what you are looking for. This Medigap insurance plan covers your doctor and hospital visits except for up to a $20 copayment for some of your doctor visits and up to a $50 copayment to a hospital. Unless you are admitted as an inpatient into the hospital. Where when this happens you will be completely covered. There is one more out of pocket expense that this plan has. It is call “Part B Excess Charges”. This is where your doctor is allowed to charge up to 15% OVER the Medicare-Approved charges. This does leave you responsible for paying them. Although there is a handful of states that do not allow the doctors there to do so.

All of the Medigap insurance plans that I have gone over can travel across state lines, and will cover 80% of Foreign Travel emergencies. So even though you might not be near your doctor you will still have the coverage you need and are paying for. No worrying if you are in your network or not. You’ll have the coverage you deserve!

Now because Medigap plans are standardized it won’t matter what company you choose to be insured with. I do recommend Mutual of Omaha but here at 1-800medigap, we are appointed with the top rated companies that provide Medigap supplements so we can compare all the insurance plans available to you in your area. This only takes a few minutes for our agents to do for you.

If you have any questions or want some more information regarding the Medigap program please give me a call at (475) 88CARLY

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Medicare Supplement Plan F

Medicare Supplement Plan F

Medicare Supplement plans are the best plans that you can get to help with Medicare-Approved cost, like Coinsurance, Copayments and Deductibles. These types of plans will also cover things that Medicare will not pay for as in going to a Foreign Country. With these plans you have to have Medicare part A&B to be able to get on one of these Medicare Supplement plans. Now you will have a monthly premium with these types of plans, but nothing in this world is free anymore. These plans are standardized, so therefor you do not have to worry about if the insurance company is going to cover your bill(s) or not. Although I recommend Mutual of Omaha it does not matter what insurance company you go with. As long as your doctor accepts Medicare then they have to accept your Medicare Supplement plan.

 

How do these plans work exactly?

There are a total of ten Medicare Supplement plans that you can choose from. Three of them I recommend to all of my clients.

Medicare Supplement Plan F – High Deductible

Starting with the best plan that you can get what we like to call the Plan F, or the Cadillac plan. This plan is going to cover you 100%, you will have no out-of-pocket expenses other than the monthly premium. You will NOT be responsible for copayments, coinsurance, or deductibles, but with the high deductible just pay an annual deductible of about $2180.00 a year.

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Plan G

Now on to the second best plan that you can get is the Medicare Supplement Plan G. This plan is barely different than the Plan F. With the Plan G you will have the monthly premium, with no copayments and no coinsurance. But what makes this plan different from plan F is that you will be responsible for the Medicare Part B deductible. Once you have reached that deductible then you will be covered 100% just like the Plan F.

Plan N

The last plan that I personally recommend to all of my clients is the Plan N. This Medicare Supplement Plan is a little different than the other two. With this plan, on Part A of Medicare you will be 100% covered. But on Part B of Medicare you will still be responsible for the Part B deductible along with what is called a Part B Excess Charge. What that means is if you go to the doctor and you have the Plan N, then in most states by law the doctor can charge up to 15% more of the Medicare-Approved amount. Also, with this Plan N you would have up to a $20 copayment at some office visits along with a $50 copayment if you go to the ER and do NOT get admitted into the hospital.

 

Here at 1-800-Medigap we know there are a lot of companies and even more questions to answer. That’s why we have Licensed Brokers standing by to answer all of your questions. As well as able to give you the most up to date rates from the best companies. Please call us at 1-800-Medigap or you can reach me at 901-KORTNI8

Advantage plans with Dental in Florida

Advantage plans with Dental in Florida

Looking for an Advantage plans with Dental in Florida ? Although i dont think an advantage plan for your Medicare should be your first pick. I know the best kind of secondary insurace for Medicare is a Medigap plan like Plan F from Mutual of Omaha. Having an Advantage plan is better then not having anything at all.

 

 

Supplements

Like I said when looking into secondary insurance to cover the 20% Medicare dose not cover I believe a Medigap Supplement is the best for you. They will give you 100% coverage for you hospital and doctors visits. With low deductible if one at all. and they have no maximum out of pocket. They also dont work in a HMO or PPO network. so you can see any doctor or hospital that excepts Medicare.

More about Medigap Plans

 

What is an Advantage plan?

Medicare Advantage plans provide Part A and Part B benefits through private insurance companies have a contract with the federal program. If you have Medicare Advantage, you are still in Medicare, and you will still get all of the same benefits that you would in Original Medicare (except hospice care, which is still covered by Medicare Part A). Some plans offer other benefits not included in Original Medicare, such as health and wellness programs, routine vision and dental benefits, or prescription drug benefits. You will need to continue to pay your Part B premium if you have Medicare Advantage. These plan Work in HMOs and PPOs. So you will have a network of doctors and hospitals you will have to stay in to get your coverage. They also have higher deductibles and large maximum out of pocket.

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More on Advantage Plans

 

So now that you understand what an advantage plan is lets take a look at a few of the Advantage plans with Dental in Florida. ( based of zip code 32003)

 

Humana Gold Plus H1036-068 (HMO)

Out-of-Pocket Maximum
$6,700 for services you receive from in-network providers.
Out-of-Pocket Maximum
YES
Dental Services
Limited dental services (this does not include services in connection with care, treatment, filling, removal, or replacement of teeth):  $20 copay
Preventive dental services:
Cleaning (for up to 2 every year):  You pay nothing
Dental x-ray(s) (for up to 2 every year):  You pay nothing
Oral exam (for up to 2 every year):  You pay nothing

BlueMedicare Preferred HMO (HMO)

Out-of-Pocket Maximum

our yearly limit in this plan $3,400 for services you receive from in-network providers.

Prescription Drug Coverage
YES
Dental Services
Limited dental services (this does not include services in connection with care treatment filling removal or replacement of teeth):  $50 copay
Preventive dental services:

  • Cleaning (for up to 1 every year):  You pay nothing
  • Dental x-ray(s) (for up to 1):  You pay nothing
  • Oral exam (for up to 2 every year):  You pay nothing

Aetna Medicare Premier Plan (HMO)

Out-of-Pocket Maximum
$6,700 for services you receive from in-network providers.
Prescription Drug Coverage
YES
Dental Services
Limited dental services (this does not include services in connection with care, treatment, filling, removal, or replacement of teeth):  You pay nothing
Preventive dental services:
Cleaning (for up to 1 every six months):  You pay nothing
Dental x-ray(s) (for up to 1):  You pay nothing
Oral exam:  You pay nothing
Free Medicare Supplement Quote

Medicare 2016 Cost

Medicare 2016 Cost

When it comes to Medicare there are different costs and Premiums that you should be aware of. As of this year 2016, there has been a few changes to Medicare and their costs. Listed below are basic costs for people with Medicare.

2016 costs at a glance
Part A premium Most people don’t pay a monthly premium for Part A (sometimes called “premium-free Part A”). If you buy Part A, you’ll pay up to $411 each month.
Part A hospital inpatient deductible and coinsurance  You pay:

  • $1,288 deductible for each benefit period
  • Days 1-60: $0 coinsurance for each benefit period
  • Days 61-90: $322 coinsurance per day of each benefit period
  • Days 91 and beyond: $644 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
  • Beyond lifetime reserve days: all costs
Part B premium Most people pay $104.90 each month.
Part B deductible and coinsurance $166 per year. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.
Part C premium The Part C monthly premium varies by plan.
Part D premium The Part D monthly premium varies by plan (higher-income consumers may pay more).

How much does Part A cost?

You usually don’t pay a monthly premium for Medicare Part A (Hospital Insurance) coverage if you or your spouse paid Medicare taxes while working. This is sometimes called “premium-free Part A.”

If you buy Part A, you’ll pay up to $411 each month.

But, most people get premium-free Part A. You can get premium-free Part A at 65 if:

  • You already get retirement benefits from Social Security or the Railroad Retirement Board.
  • You’re eligible to get Social Security or Railroad benefits but haven’t filed for them yet.
  • You or your spouse had Medicare-covered government employment.

 

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How much does Part B cost?

Part B premiums

You pay a premium each month for Part B. Most people will pay the standard premium amount. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you may pay an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.

The standard Part B premium amount is $121.80 (or higher depending on your income). However, most people who get Social Security benefits will continue to pay the same Part B premium amount as they paid in 2015. This is because there wasn’t a cost-of-living increase for 2016 Social Security benefits. You’ll pay a different premium amount if:

  • You enroll in Part B for the first time in 2016.
  • You don’t get Social Security benefits.
  • You’re directly billed for your Part B premiums.
  • You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $121.80.)
  • Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount.

If you’re in 1 of these 5 groups, here’s what you’ll pay:

If your yearly income in 2014 (for what you pay in 2016) was You pay (in 2016)
File individual tax return File joint tax return File married & separate tax return
$85,000 or less $170,000 or less $85,000 or less $121.80
above $85,000 up to $107,000 above $170,000 up to $214,000 Not applicable $170.50
above $107,000 up to $160,000 above $214,000 up to $320,000 Not applicable $243.60
above $160,000 up to $214,000 above $320,000 up to $428,000 above $85,000 and up to $129,000 $316.70
above $214,000 above $428,000 above $129,000 $389.80

Get more information about your Part B premium from Social Security.

Part B deductible & coinsurance

You pay $166 per year for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.

Facts from

Looking for more info on Medicare or Medigap you can call me Derctly at (475) 88CARLY / (475) 882-2759

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