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Medicare Handbook

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What are the different parts of Medicare?

Medicare Part A-- Medicare part A is your basic hospital coverage. Medicare Part A covers certain medical services and supplies in hospitals, doctors offices, and other professional health care settings. Medicare Part A helps cover:

  • Inpatient care in hospitals
  • Skilled nursing facility care
  • Hospice care
  • Home health Care
  • Inpatient care in a Religious Non medical Health Care Institution

However, with Medicare Part A, it is important to keep in mind that you will only be 80% covered for all of these services. This will leave you having to pay the remaining 20% out of pocket.

How much Does Medicare Part A cost?

If you buy Medicare art A, you will usually pay up to $451.00 each month. However, most people get the premium-free Part A. You will be able to enroll in the premium-free Part A if you are 65 years or older and:

  • You receive retirement benefits from Social Security or the Railroad Retirement Board.
  • You are eligible to receive Social Security or Railroad benefits, but have yet to file for them.
  • You or your spouse had Medicare-covered government employment, meaning that you paid Medicare taxes

If you are under the age of 65, you can qualify for Premium-free Part A if:

  • You get social security or Railroad retirement Board of disability benefits for 24 months.
  • You have End-Stage Renal Disease (ESRD) and meet the requirement necessary.

Medicare Insurance

Need to know more about Medicare and Medicare Supplement Insurance, get a comparison of Medicare Supplement Plans now! Medicare is government sponsored health insurance for seniors, and certain disabled. The Medicare System was created in 1965 to cover medical costs for seniors on social security. With medicare the government picks up the tab, instead of privately owned insurance companies. You qualify for medicare when you turn 65, under 65 if you are receiving disability benefits from social security, and everyone with permanent kidney failure requiring dialysis or a transplant. In most cases medicare only covers %80 of your medical expenses. A medicare supplement plan helps cover the out of pocket expenses not covered in original medicare. Medicare Supplement or medigap, can start as soon as Part B coverage is in place. There are four parts to medicare. Part A, Part B, Part C, and Part D. Please feel free to pause the video to view some basic medigap plans. For more information about medicare and medicare supplement insurance, including free quotes, and professional assistance, call 1-800- medigap. Thanks for watching. Planes Suplementarios de Medicare

Medicare Part B

Medicare Part B is your basic medical insurance. Medicare Part B helps cover:

  • Services from doctors and other health care providers
  • Outpatient care
  • Home health care
  • Durable medical equipment
  • Some preventative services

Like Medicare Part A, Medicare Part B will only allow you to be 80% for the services mentioned above. You will be responsible to pay out of pocket for the leftover 20%.

How Much Does Medicare Part B Cost?

Generally, most people the Part B premium of $99.00 each month and you pay $140 per year for your Part B deductible. However, if you do not sign up for Medicare Part B when you are first eligible, you may be required to pay a late enrollment penalty as well. Also, if you are modified adjusted gross income as reported on your IRS tax return from two years ago, is above a certain amount, you may also be required to pay more. Usually if this applies to you, Social Security will contact you. Keep in mind however, that the amount you pay can change from year to year depending on your income.

If you disagree with the higher amount that you are paying for your Part B premium (For example: If your income decreases for whatever reason), you should contact Social Security.

Medicare Part C

Medicare Part C, also known as a Medicare Advantage Plan, is usually a combination between Medicare Part A, Medicare Part B, and Medicare Part D. Also, in many cases, extra benefits like: dental, hearing, and vision may be included for extra cost. Medicare Part C is run by Medicare-approved private insurance companies

How much Does Medicare Part C Cost?

If you are enrolled in Medicare Part C, or a Medicare Advantage Plan, you will usually have to pay a monthly premium to addition to your Part B premium.

Medicare Part D

Medicare Part D is your Medicare prescription drug coverage. Like Medicare Part C, Medicare Part D is also run by Medicare-approved private insurance companies. Medicare Part D helps cover the cost of prescription drugs and if you are like most seniors with many prescriptions, enrolling in a Medicare prescription drug coverage may be beneficial. Also, Medicare Part A may even help you lower your current prescription drug costs as well as help protect you against high costs in the future.

How much does Medicare Part D cost?

If you are enrolled with Medicare Part D, throughout the year you will be required to pay: A monthly premium, a yearly deductible, co payments of coinsurance, costs in the coverage gap, costs if you receive Extra Help, and costs if you pay a late enrollment penalty.

However, your actual drug plan costs will vary depending on: the prescription drugs that you use, the plan that you choose, whether the prescription drugs that you use are on your plan's forumlary, and whether you receive Extra Help paying for your Medicare Part D plan.

What is a Medicare Supplemental Plan?

A Medicare Supplemental Plan, also known as a Medigap Plan, will cover the gaps that Original Medicare does not cover. For example: With original Medicare, all of your costs will be 80% covered. Therefore, you will be responsible for paying the remaining 20% out of pocket. Now, most people will think that 20% is not much. However, if you are like many seniors who will undergo a knee replacement or his replacement surgery, 20% of your coverage can add up. To protect yourself, people often enroll in a Medicare Supplemental Insurance plan. WHAT IS THE MOST COMPREHENSIVE MEDICARE SUPLEMNT PLAN, MEDICARE PLAN F?

 

1-800-MEDIGAP is a leading website focused on Medicare Supplement plans. We offer information, additional information sources, and quoting through our network of licensed agents, affiliates and agent networks. We are not an agent, insurance company or are we affiliated with the Medicare program administered by the U.S. government. The Website serves as an invitation for you, the customer, to inquire about further information regarding Medicare Supplement Insurance, and submission of your contact information constitutes permission for a representative to contact you with further information, including complete details on cost and coverage of this insurance. We are not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE or consult www.medicare.gov (TTY users should call 1-877-486-2048 ), 24 hours a day/7 days a week or consult www.medicare.gov. Link to 1-800-MEDIGAP