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2021 MEDICARE COSTS & PREMIUMS

PART A (HOSPITAL) You pay: Inpatient Hospital Stay (benefit period ends 60 days after release from care): Deductible: $1,484 per benefit period Coinsurance (days 1-60): $0 per day of each benefit period Coinsurance (days 61-90): $371 per day of each benefit period Coinsurance (60 lifetime reserve days): $742 per day after day 90 of each […]

Fall 2020 Medicare Update

Medicare & Medicaid Many individuals qualify for both Medicare and their state Medicaid program to provide coverage for their healthcare needs. Having a solid understanding of these programs can lead to better access to care, better health outcomes, and less confusion. Medicare Savings Program The portion of the state Medicaid program that provides financial assistance […]

April 2020 Medicare Update

Choosing between Original Medicare or a Medicare Advantage plan can be confusing for many. Both options provide different opportunities to enroll, coverage, provider choices, billing processes, prescription coverage and extras. It’s important to understand how each program operates so you can make an informed decision.          

March 2020 Medicare Update

MEDICARE + EMPLOYER-BASED COVERAGE WHAT IS THE DIFFERENCE BETWEEN PRIMARY AND SECONDARY COVERAGE? When you have Medicare and another type of insurance, Medicare will either pay primary or secondary for your medical costs. Primary insurance pays first for your medical bills. Secondary insurance pays after your primary insurance. Usually, secondary insurance pays some or all […]

February 2020 Medicare Update

PREMIUM-RELATED APPEALS WHAT IS THE PART B LATE ENROLLMENT PENALTY (LEP) AND HOW CAN I APPEAL IT? For each 12-month period you delay enrollment in Medicare Part B, you will have to pay a 10% Part B premium penalty, unless you have insurance based on your or your spouse’s current work (job-based insurance) or are […]

January 2020 Medicare Update

Medicare Minute® What’s new in 2020?

Medicare ‘Doughnut Hole’ Will Close in 2019

Drug companies will pay more to lower some Part D costs by Dena Bunis, AARP, February 9, 2018 Medicare beneficiaries with high annual prescription drug costs will get some relief a year earlier than expected as a result of the budget deal President Trump signed early Friday. Part D beneficiaries who have high prescription drug […]

Do I Have to Renew My Medicare Plan during Open Enrollment?

Unless you take action to change it during Medicare Open Enrollment (Oct. 15 – Dec. 7), your current Medicare coverage will renew for the following year. But are you sure you want it to? Automatic renewal helps ensure that you will have continuing coverage. It works the same whether you have Original Medicare (Parts A […]

Turning 65 soon? Here’s what you should know about Medicare

In health care, the magic number is 65. Most people who live in America are eligible for Medicare, a federal health insurance program, when they turn 65, as long as they have a Social Security number and have paid into Social Security. It’s also available for younger people with disabilities or other chronic diseases. Many people […]

5 Ways to Pay Your Medicare Part B Premium

If you’re like most people, you don’t pay a monthly premium for your Medicare Part A. However, if you have Medicare Part B and you are receiving Social Security or Railroad Retirement Board benefits, your Medicare Part B premium is usually deducted from your monthly benefit payment. If you have Medicare Part B but you […]