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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

  • Easier to budget Monthly expenses
  • Can see anyone who accepts Medicare
  • Can never lose coverage unless premiums are not paid.
  • Paying very little to doctors out of pocket.
  • More expensive premiums than a Medicare Advantage
  • No drug plan included
  • Can increase yearly

Don’t hesitate, contact me for better help, Medicare can be a lot to understand.

Latest From the Blog on Medicare

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Does Medicare Cover Dental?

The answer is no…unless it is medical, like a broken jaw, Medicare does not cover preventive care for dental, such as cleanings, fillings, etc.

While some Medicare Advantage plans include some dental, Medicare itself does not include dental insurance within its plan.

Read More

yes no sign

Do I need Part B Medicare?

I had a client recently reach out to me and say “Hey Norm, do I need to keep my Part B Medicare? I’m looking for a way to save $174.70 a month. Since I have my Medicare Advantage plan, can I just get rid of Part B?”

Read More

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