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Sep
12
2017
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Posted 7 years 71 days ago ago by Pat
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Basics of Medicare
Part A - Hospital Insurance
No Premium if you have worked 40 quarters (10 Years)
*Inpatient Hospital Care
*Skilled Nursing Facility Care Stays
*Hospice Care
*Home Health Care
Medicare pays 80%, your responsibility is the other 20% which can include deductibles, copays & coinsurance
Part B - Medical Insurance (Penalty if you do not sign up for Part B at 65. Exception: Employer is paying Insurance.)
*Doctor’s visits
*X-Rays
*Outpatient care
Generally covers about 80% after the Part B deductible is met. 2017=$183 You are responsible for the remainder.
If drawing Social Security, Premium (2017=$134) is deducted from check.
Options
Part A & B only. Part D is the prescription plan. Penalty if you do not sign up for one at 65. Exception: Employer is paying.
Part A & B & D
Part A & B & D & Supplement Plan. Supplement fills in what Medicare does not pay.
Medicare Advantage Plan which includes A, B, and typically D. PPOs, HMOs, etc. Doctors must be in the network and you will have Co-pays, Co-insurances and MOOP.