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Medicare
Parts of Medicare
Part A Hospitalization
As long as you have worked 10 years, or for 40 quarters, you receive this part for free. There is a deductible for most people, but PART A does not cost a person any money. The Deductible for this is $1600 in 2023.
Part B Doctors
This part covers doctor visits, procedures, treatment, etc. For most people for the 2023 year, the cost is $164.50 per month. This is taken right out of your social security check. This part of Medicare covers 80% of your medical bills. There is no maximum out of pocket.
Part C Medicare Advantage
- Cheaper Monthly Premium
- Includes a drug plan
- May include some extra benefits not tied to Medicare
- More out of pocket costs if you see doctors
- Can change year to year
- May be limited on who and where you can be seen
Part D Drug Coverage
This is your drug coverage. Everyone is required to have this, or there is a penalty of 1% for each full month without credible coverage. This lasts the rest of your life.
Medicare Supplements aka Medigap
Don’t hesitate, contact me for better help, Medicare can be a lot to understand.
Latest From the Blog on Medicare
What is IRMAA (Income Related Monthly Adjusted Amount)?
It represents an increase to Medicare Part B and Part D standard monthly premiums and is determined by the Social Security Administration.
What do you do with Medicare if you move or change your zip code?
What are the rules and what happens in 60 days?
Does Medicare Cover Nursing Homes?
Does Medicare Cover Nursing Homes?People often ask me how much does Medicare cover in regards to a nursing home, or a skilled nursing facility? The answer is 20 days.Then for the next 80 days, they will assist in payments, but then after the 100 days are up, you...
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