DIY Style Annual Review

You have options to supplement Medicare, Medicare Advantage plans, Medicare supplements, Part D drug plans, and perhaps continued coverage through a previous employer. I don’t have a pointless approach to providing the information I need to make an informed decision about the Best Medicare Advantage plans, Medicare supplement plans, and Part D drug plans.

I am an unbiased resource person, I work with all major insurance companies. Medicare and my service cost you nothing.

The original Medicare is divided into two parts, Medicare A (hospital) and Medicare B (ambulatory).

PART A

When you enter the hospital, Medicare Part A is activated and a deductible must be paid; for 2015, it’s $ 1260.00. This is good for a period of 60 benefits. According to Medicare Part A, the Medicare Part A deduction period is 60 days, which means that if you are hospitalized, you will be discharged and will be readmitted to the hospital within 60 days. The deductible applies to Medicare Part A. But if you are re-admitted to the clinic after the normal 60 day period, a new Part A deductible of Medicare will apply.

In addition, if you are in continuous hospitalization for more than 60 days, from day 61 to day 90, there will be a daily co-pay of up to $ 315.00 per day. If you have more than 90 days, from day 91 to day 150, there is a co-pay of up to $630 daily for the last 60 days, which CMS refers to as “lifetime reserve” days, Medicare will be without you and you are liable for all costs after 150 days of continuous hospitalization. Then comes qualified nursing, in a qualified nursing unit, the CMS pays for the first 20 days; then from 21 to 100, there is a daily payment of $ 152.00.

 

MEDICARE PART B

The way B works very similarly to your traditional medical health insurance, after the annual deduction ($ 147.00 in 2015), is 80% and 20% you pay. With one rule (according to Medicare assignment), this means that the CMS and your doctor will agree on the cost. Your doctor may charge you up to 15% for what Medicare allows, known as “Overload.”

It is important to add that there is no maximum outlay on Original Medicare! That’s why most people protect themselves with some kind of supplemental plan, whether it’s a supplement or Medicare advantage plans.