As independent brokers, we work on your behalf to find the best medical and prescription drug coverage.
Medicare's Hospital Insurance
Covers: Inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.
Medicare's Medical Insurance
Covers: Doctors and other health care providers, outpatient care, home health care, durable medical equipment (like wheelchiars, walkers, hospital beds, and other equipment), and many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits).
$0 for most people (because they or a spouse paid Medicare taxes long enough while working – generally at least 10 years). If you get Medicare earlier than age 65, you won’t pay a Part A premium. This is sometimes called “premium-free Part A.”
If you don’t qualify for premium-free Part A: You might be able to buy it. You’ll pay either $278 or $505 each month for Part A, depending on how long you or your spouse worked and paid Medicare taxes.
Remember:
If you’re not sure if you qualify you can log into (or create) your Social Security account at ssa.gov
$1,632 for each inpatient hospital benefit period before Original Medicare starts to pay.
There’s no limit to the number of benefit periods you can have in a year. This means you may pay the deductible more than once in a year.
$0 for covered home health care services.
20% of the Medicare-approved amount for durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
$0 for covered hospice care services.
You may also pay:
$174.70 each month (or higher depending on your income). The amount can change each year. You’ll pay the monthly premium, even if you don’t get any Part B-covered services.
If your income is above $103,000 you will have a higher premium.
You might pay a monthly penalty if you don’t sign up for Part B when you’re first eligible for Medicare (usually when you turn 65). You’ll pay the penalty for as long as you have Part B. The penalty goes up the longer you wait to sign up.
$240 before Original Medicare starts to pay. You pay this deductible once each year.
Usually, 20% of the cost for each Medicare-covered service or item after you’ve paid your deductible (and as long as your doctor or health care provider accepts the Medicare-approved amount as full payment – called “accepting assignment”).
$0 for covered clinical laboratory services.
20% of the Medicare-approved amount for most doctor services while you’re a hospital inpatient.
You’ll also pay a copayment to the hospital for each service you get in a hospital outpatient setting (except for certain preventive services). In most cases, your copayment won’t be more than the Part A hospital stay deductible amount.
Medicare's Prescription Drug Plans
Covers: The cost of prescription drugs. Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare.
Medicare Advantage or MA Plans
Covers: All medically necessary services that Original Medicare covers. Plans may also offer some extra benefits that original Medicare doesn’t cover – like certain dental, vision hearing services.
Medicare Supplement Insurance
Covers: Helps cover your share of costs for services that are covered by Orginal Medicare. You can buy a plan through a private insurance company.
Dual Eligible Special Needs Plans
Covers: People who have both Medicare and Medicaid. Plans may cover extra benefits like healthy food allowance and over-the-counter products.
Varies by plan. You may have to pay more, depending on your income.
Avoid paying a penalty:
Varries by plan and Pharmacy.
The cost of Medicare Part D varies from carrier to carrier and by the type of medication you are on.
Your plan must be reviewed yearly because the price and what medications are covered can change every year.
Varies by plan. These amounts can change each year.
Varies by plan. Once you pay the plan’s limit, the plan pays 100% of your covered health services for the rest of the calendar year.
The amount varies depending on which Medigap policy you buy, where you live, and other factors. It can also change each year.
Varies by plan. Some plans may charge a premium, in addition to the monthly Part B (Medical Insurance) premium. However, if you have Medicare and Medicaid, most of the costs will be covered for you. Contact your Medicaid office for more information.
