Medicare Insurance Made Simple

• Medicare Part A (Hospital Insurance) – In general, think of this like ‘room and board’ when you’re in the hospital.  This is an entitlement benefit, meaning most people are entitled to their Part A at age 65 because they have paid into Social Security and Medicare as part of their income taxes every year and therefore are entitled to Part A premium-free.  The deductibles, coinsurance, and out-of-pocket costs within Part A can quickly add up.  Learn more

• Medicare Part B (Medical Insurance) – Most people associate Medicare coverage with Part B because this is the major medical, or ‘doctoring,’ part. This includes services such as doctor visits, labs, x-rays, CT’s, surgeon fees, physical therapy, and everything in between.  In 2023, most people will pay a monthly premium of $164.90 for Part B, a decrease from the $170.10 in 2022 (higher income earners will pay more due to an Income Related Monthly Adjustment Amount, or IRMAA); this deducts automatically out of a beneficiary’s Social Security income, or if the SSI is deferred, the Social Security Administration will mail a bill (usually quarterly). This premium gives the Medicare beneficiary 80/20 major medical coverage: Medicare pays 80% of major medical costs, leaving the Medicare beneficiary responsible for the other 20%, with no maximum out of pocket.  Learn more

To avoid these potential significant expenses that are within Parts A and B of Original Medicare, we have all the plans that go above and beyond just keeping Original Medicare by itself.

For more information on Medicare visit Medicare.gov.