Welcome for our Weekly Wednesday! Last week as you recall we talked about Medicare Part A (hospitalization). Well, this week we will be discussing Part B (medical).
Part B (medical) you elect to take, unlike Part A that you are required to take when you turn 65. Part B you can delay and select to take it whenever you’d like. Once you select to take Part B the government will begin drafting its premium out of your Social Security check each month, 2019 average premium is $135.50. Similar to Part A, you will have no networks on Part B, as long as the doctor accepts Medicare. Part B will pay 80% of all your medical (outpatient) costs. Also included in your Part B that Medicare will cover 80% of is durable medical equipment such as diabetes testing strips. This is also where your ambulance and ER coverage comes in. Basically, as long as you are not admitted to the hospital it is covered under your Part B of Medicare. This is where your skilled nursing coverage comes from also, days 1-20 are covered then day 21 and on you are responsible for $170.50 per day.
As always we know Medicare can be confusing, but we are always here to help and answer questions. Please, don’t hesitate to ever reach out to us whether you are new to Medicare or been on it for years and looking to review your options!