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Do I Need a Medicare Supplement Plan? The Truth About Medigap Plans....
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Do you really NEED a Medicare Supplement? Honestly, it depends! Check out this video to learn more or call us at iHealthBrokers today at 888-410-0344. Our services are 100% Free!
★☆★ABOUT THIS VIDEO★☆★
Original Medicare is Medicare Part A, which is your hospital insurance and Medicare Part B, which is your outpatient insurance.
Medicare Part A covers your hospital insurance. It will cover:
Inpatient care in a hospital
Nursing facility care
Nursing home care
Hospice care
Home Health Care
Medicare Part B helps to cover your outpatient insurance, namely medically necessary services, and preventative services. It will cover:
Doctors Visits
Mental health services
Outpatient Surgery
Ambulance services
Durable medical equipment, like wheelchairs or walkers.
Limited outpatient prescription drugs such as injections you get in a doctor's office and CHEMOTHERAPY
Medicare parts A & B do NOT cover coinsurance, copayments, or deductibles and these costs can stack up which is why many people consider enrolling in a Medicare supplement plan (also known as Medigap) OR Medicare Advantage. Additionally, Medicare parts A & B do not cover long term care, dental, vision, or hearing. Coverage for all of these items is available separately.
In 2021, the deductible for Medicare Part A is $1484. As a reminder, your deductible is the amount that you must meet out of pocket before your insurance kicks in. This is not a once yearly deductible. It is applied to each hospital stay. So, if you have to visit the hospital for an overnight stay more than once in a given year, you will be responsible for meeting that deductible each time (even if it is only for one night).
For the first 60 days in the hospital, you will not be charged (after you’ve met your deductible), after that you will be charged coinsurance based on your length of stay. Honestly, it’s very unlikely that you would be held in the hospital for such an extended period of time. You would most likely be transferred to some type of skilled nursing facility and for that, there can be charges.
Medicare Part B also has a deductible and coinsurance to be aware of. In 2021, the deductible for Medicare Part B is $203. Unlike Part A, this is a once annual deductible, so it’s really not that big of a deal. You really need to be aware of Medicare Part B coinsurance.
Medicare Part B is your outpatient insurance. Original Medicare will cover approximately 80% of the costs, leaving you with about 20% of the costs. Honestly, if you really and truly are in good health and only visit your doctor twice a year (the minimum recommendation for seniors), 20% is not that big of a deal. BUT, there are other costs to take into account. Medicare Part B covers, not just doctor’s visits, but also outpatient surgery, ambulance services, diagnostic tests (like CT scans & and Xrays) and even Chemo drugs. 20% of these types of services can definitely be costly.
Finally, be aware that with Original Medicare, there is not out of pocket maximum.
There are many different Medicare Supplement Plans all with different levels of coverage. Benefits can vary but they will help to cover Part A deductibles, Part B coinsurance, and additional charges for hospice or nursing care facilities. They will also impose a limit on out of pocket costs.
👇SUBSCRIBE TO iHealthBroker's CHANNEL NOW👇
★☆★CHECK OUT OUR OTHER VIDEOS★☆★
What's the Best Medicare Supplement Plan?
Save Money on Medicare
Medicare Advantage vs. Medicare Supplement Plans
===================================
Medigap Comparison:
===================================
★☆★CHECK US OUT ★☆★
PHONE NUMBER: (888) 410-0344
===================================
Give us a call or leave a comment below and we'll do our best to help! Make sure to "Like" and "Subscribe" today!
★☆★ABOUT THIS VIDEO★☆★
Original Medicare is Medicare Part A, which is your hospital insurance and Medicare Part B, which is your outpatient insurance.
Medicare Part A covers your hospital insurance. It will cover:
Inpatient care in a hospital
Nursing facility care
Nursing home care
Hospice care
Home Health Care
Medicare Part B helps to cover your outpatient insurance, namely medically necessary services, and preventative services. It will cover:
Doctors Visits
Mental health services
Outpatient Surgery
Ambulance services
Durable medical equipment, like wheelchairs or walkers.
Limited outpatient prescription drugs such as injections you get in a doctor's office and CHEMOTHERAPY
Medicare parts A & B do NOT cover coinsurance, copayments, or deductibles and these costs can stack up which is why many people consider enrolling in a Medicare supplement plan (also known as Medigap) OR Medicare Advantage. Additionally, Medicare parts A & B do not cover long term care, dental, vision, or hearing. Coverage for all of these items is available separately.
In 2021, the deductible for Medicare Part A is $1484. As a reminder, your deductible is the amount that you must meet out of pocket before your insurance kicks in. This is not a once yearly deductible. It is applied to each hospital stay. So, if you have to visit the hospital for an overnight stay more than once in a given year, you will be responsible for meeting that deductible each time (even if it is only for one night).
For the first 60 days in the hospital, you will not be charged (after you’ve met your deductible), after that you will be charged coinsurance based on your length of stay. Honestly, it’s very unlikely that you would be held in the hospital for such an extended period of time. You would most likely be transferred to some type of skilled nursing facility and for that, there can be charges.
Medicare Part B also has a deductible and coinsurance to be aware of. In 2021, the deductible for Medicare Part B is $203. Unlike Part A, this is a once annual deductible, so it’s really not that big of a deal. You really need to be aware of Medicare Part B coinsurance.
Medicare Part B is your outpatient insurance. Original Medicare will cover approximately 80% of the costs, leaving you with about 20% of the costs. Honestly, if you really and truly are in good health and only visit your doctor twice a year (the minimum recommendation for seniors), 20% is not that big of a deal. BUT, there are other costs to take into account. Medicare Part B covers, not just doctor’s visits, but also outpatient surgery, ambulance services, diagnostic tests (like CT scans & and Xrays) and even Chemo drugs. 20% of these types of services can definitely be costly.
Finally, be aware that with Original Medicare, there is not out of pocket maximum.
There are many different Medicare Supplement Plans all with different levels of coverage. Benefits can vary but they will help to cover Part A deductibles, Part B coinsurance, and additional charges for hospice or nursing care facilities. They will also impose a limit on out of pocket costs.
👇SUBSCRIBE TO iHealthBroker's CHANNEL NOW👇
★☆★CHECK OUT OUR OTHER VIDEOS★☆★
What's the Best Medicare Supplement Plan?
Save Money on Medicare
Medicare Advantage vs. Medicare Supplement Plans
===================================
Medigap Comparison:
===================================
★☆★CHECK US OUT ★☆★
PHONE NUMBER: (888) 410-0344
===================================
Give us a call or leave a comment below and we'll do our best to help! Make sure to "Like" and "Subscribe" today!
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