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Medicare Basics

Medicare is for YOU If you are age 65 and over or receiving Social Security Benefits due to disability. Read about the basics of Medicare below before requesting your Medicare quote.

• Medicare is made up of four parts
• Medicare Part A (Hospital Insurance)
• Medicare Part B (Medical Insurance)
• Medicare Part C (Medicare Advantage Plans)
• Medicare Part D (Prescription Drug Plans).

There are also Medicare Supplement plans. Plan F is the most popular, followed by Plan G. A Medicare Supplement plan pays the deductible and coinsurance costs that are part of Medicare Part A and Medicare Part B.

How much does Medicare cost?

Part A: If you have worked 40 quarters and paid FICA taxes, your Medicare Part A will be no cost.*
Part B: The premium is a minimum of $135.50 per month for 2019, and can be adjusted based on your income.*
Part C: The premium varies – anywhere from $0 to $200+ per month.*
Part D: The premium varies – anywhere from $15 to $80+ per month – and can be adjusted based on your income.*

*When you use healthcare services you will have deductible and coinsurance costs to pay.

If you enroll in Medicare Part A, Medicare Part B and a Medicare Supplement plan, you can go to any doctor or facility that accepts Medicare.

If you enroll in Medicare Part A, Medicare Part B and a Medicare Advantage plan, you will need to find providers that are in your Medicare Advantage plan network.

Important: There is no Out of Pocket limit on your responsibility for Medicare Part A and Medicare Part B Benefits. This is why enrolling in a Medicare Supplement plan or a Medicare Advantage plan is important to consider.

These are the very-stripped-down basics, but you need a licensed health insurance agent to guide you through the many complexities of Medicare and its parts, supplements, etc.

Call now to talk with a friendly licensed health insurance expert: (828) 681-8223