Medicare includes Part A benefits to handle charges for care at a hospital or a skilled nursing facility and to cover certain healthcare equipment and services to keep you in your home. Most people receive these Part A benefits without paying any monthly premium because they or their spouse have paid into the system through employment.
Medicare also offers Part B coverage to handle healthcare services provided by doctors and other non-hospital providers. Part B benefits do require a monthly premium that varies based on income. While that much may not sound complicated, the way Medicare provides this coverage is anything but simple.
Both Medicare Part A and Part B require you to pay deductibles, and your coverage doesn’t actually pay any of your medical bills until you have met those deductibles. For hospital care, you’ll face a $1,100 deductible and the deductible for doctor services is $155 a year. Even after you’ve met those deductibles and Medicare starts to pay your medical bills, it does not pay for all the bills.
For example, if your doctor charges more than Medicare’s limit for a procedure, you still owe the doctor the difference. Many seniors fear getting stuck with large medical bills because they didn’t calculate all of Medicare’s co-insurance and co-pay charges or they didn’t estimate the deductible charges just right. Medicare Supplement Insurance offers a range of Medigap Plans from limited to complete coverage for the gaps in your Medicare coverage.
To see all of the different ways that Medigap Insurance plans can protect you from the holes in Medicare’s coverage, visit our website. You’ll find more ways to save money, and you can even discuss your situation with a Medigap expert for free professional assistance. You can reach MediGap Advisors at 866 323-1441 to book a personal consultation to help you compare Medigap Insurance to your personal needs.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.