If someone has Original Medicare, Part A works with Part B to cover a little over 50% of all medical cost combined. That’s pretty good considering we spend an average of over $16000 per year on medical cost between age 65 and Heaven.
Part B does have a premium as well. It is a standard monthly premium that will either be deducted from your benefit or billed directly to you, of $170.10/month. In some cases, you may be asked to pay more and you may be able to pay less depending on extra help available in your state. That 170.10 buys some amazing benefit, y’all. Part B helps cover doctors visits, specialist visit, out patient physical therapy, occupational therapy, speech therapy if anyone has a stroke or anything like that. It helps pay for durable medical equipment, like walkers, rolaters, cpap machines, y’all part b will even pay for insulin, if someone is insulin dependent and using a pump… if you self-administer, that’s part D, but if you have a pump, this can be life-changing.
Part B also pays for ambulatory services and ER visits. Part b covers major out patient surgeries, treatment, like chemo therapy, radiation, dialysis, transfusions. Phew! That’s a lot of coverage. Part B does have an annual deductible of only $233 for the whole year. After that deductible is met, Original Medicare pays 80% of fees they approve and either you or your medicare supplement aka medigap pays the rest. Some doctors may not accept Medicare assignment. Don’t let that scare you, all that means is that they can charge up to 15% more than what Medicare approves, in which case either you or your medigap just pays a little more.
Services covered by Medicare are public information and universal. That means everyone who has it, gets the same care at the same cost and it is public information. It is even public information if someone does not accept Medicare or Medicare assignment.
If you still have questions, don’t feel bad. Remember there is no one size fits all. Feel free to call me, Ellie Saul, CEO and Mama Bear of Mamabear Resources LLC. 341-226 MAMA that’s 341-226-6262. You worked your whole life for this. Protect your retirement.