Whether you are turning 65, preparing to retire, or are already on Medicare we are here to answer your questions and to help you find the plan that most closely aligns with your needs. We are ready to help you navigate the critical decisions that have to be made every year about your health coverage and make sure you avoid late enrollment penalties, unexpected costs, and being stuck with a plan that does not give you the coverage that you need.
*(All money values are what you pay for services if you only have ORIGINAL Medicare)*
Medicare Part A:
Hospital Services:
- Days 1-60 $1,556 deductible
- Days 61-90 $389 per day
- Days 91 and to 150 (60 lifetime reserve days) $778 per day
Skilled Nursing Facility (must be in the hospital as an inpatient 3 or more days)
- Days 1-20 $0 per day
- Days 21-100 $194.50 per day
- Days 101 and beyond you pay all costs
Medicare Part B: Medical Services
Part B Deductible $233 yearly
After your deductible is met, you generally pay 20% of the Medicare-approved amount for most doctor services, outpatient therapy and durable medical equipment. You will also pay for most doctor services while you are a hospital inpatient.
In 2021, the standard Part B premium is $170.10 per month.
Medicare Part C: Medicare Advantage Plans
Medicare Advantage Plans are offered by private insurance companies approved by Medicare. If you join a Medicare Advantage Plan you are still part of the Medicare program. However, your Part A and Part B benefits are provided by the Medicare Advantage Plan rather than Original Medicare.
These plans are required to cover all services approved by Medicare. Most Medicare Advantage Plans offer services in addition to Original Medicare and may also include Part D prescription drug coverage. Most Advantage Plans will be HMOs or PPOs.
Medicare Part D: Prescription Drugs
Medicare Part D plans are prescription drug plans offered by private insurance companies approved by Medicare. Each plan has its own list of covered drugs called a formulary. Within the formulary, there are different drug tiers. The cost of your drug will depend on the tier it falls under. Typically the lower the tier the lower the cost.
Medicare Part D has a standard deductible of $425 in 2020. Some plans offer a lower deductible while others have no deductible at all. Part D Plans may also have discounts when using certain preferred pharmacies or mail order services. You can enroll in Part D coverage by purchasing a stand-alone Prescription Drug Plan or by enrolling in one of the various Medicare Part C options (Advantage Plans) available in your service area.