We know Medicare is overwhelming so this week we want to give you a quick refresh in Medicare.
Original Medicare Part A is hospitalization and Part B is medical coverage. You will automatically sign up for Part A of Medicare on the 1st of the month you turn 65. While you were working you paid into your Part A, you must have worked 40 quarters (roughly 10 years) to receive it. You receive Part A at 65 even if you are still working it will not affect your health insurance through work. Part A only has a deductible of $1,364 and has a 60-day window of care.
Part B is your medical coverage and you sign up for it as you do Part A. 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. Part B will pay 80% of all your medical (outpatient) costs.
Check back next week and we will tell you about Medicare Supplements and how they can fill in those gaps in Medicare!
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 have been on it for years and looking to review your options! 844.437.4253 Toll- Free!