Medicare Plans – Part A and B
What is Medicare and What Does it Cover?
Medicare is a federally administered Healthcare plan that applies to the following people:
- Seniors citizens over the age of 65
- People younger than 65 with certain disabilities
- People with End Stage Renal Disease (People with kidney failure requiring dialysis)
At Seniors for Medicare, we offer clients access to a full list of informational resources on Medicare benefits and provide free consultancy on the lowest cost Medicare health plans in New York and New Jersey.
Our client advantage program offers lifetime Medicare plan consultancy at no cost. In addition to this, we make certain you are always updated on the most competitive insurance providers in the region.
Some Medicare Technicalities
Although Medicare covers a large part of your medical expenses, it doesn’t provide complete coverage.
There are co-payments, deductibles and premiums that you have to pay for each of the three Parts
(Parts A, B and D).
Premiums for Part A
The premium payments for Part A Medicare are covered in the Medicare taxes you paid during your employment. If you’ve worked for 10 years in the United States, there are no premiums for Medicare Part A.
Deductibles for Part A Medicare
For any hospital stays, you will have to pay the initial $1364 and stay in the hospital for two nights straight. Once these two conditions have been fulfilled, Medicare Part A will cover the rest of the charge.
After the first 60 days have passed you will be required to make copayments worth $341 daily. After the first 90 days have passed, your copayments will go up to $682 daily.
Premiums for Part B
The monthly premium payments for Medicare start from $135.50 per month, progressively increasing as household incomes rise. There are additional plans that you can sign up for to help manage your copayments, such as Medicaid or Medicare Supplement Plans.
Part B Deductibles
Medicare part B requires you to pay the first $185 annually for continued coverage under Medicare Part B. There is also a 20% coinsurance. Medicare Supplement plans can help reduce much of the burden of these payments.
Most of these supplement plans are provided by private insurance companies. Get in touch with Seniors for Medicare in New York for more information on Medicare Supplement Plans to find the best policy combinations for yourself.
Premiums and Payments for Part D
Part D is strictly offered by private insurance providers, each of whom has their specific payment plans. The premiums, copayments and deductibles differ from plan to plan. Speak with Seniors for Medicare to learn about the best options for Medicare Health Coverage plans in New Jersey.
How Can Seniors For Medicare Help?
For your insurance plans to actually help in offering savings, you need to create the right combination of health plans offering the lowest premiums for the most amount of coverage. Our experienced agents can help evaluate the optimal plans for your needs.
We work with the top carriers that offer the most competitive Medicare insurance plans in New York and New Jersey. Our insurance agents have been working with the different Medicare plans for years now; in the process they’ve developed a focus in evaluating and educating on different plan options for all your needs.
Call us today to speak with our agents to help you evaluate your Medicare plans in the greater New York area.