Medicare Explained 2021: Medicare Part A, Part B, Part C, and Medicare Supplements Explained!

If you want a short and and to the point video that goes over the basics involved with enrolling into Medicare and how Medicare works you came to the right place. Let's get into all the detail right now.

Andrew Walsh
Phone: (920) 960-4312
Email: MedicareScreenShare@gmail.com
Website Link: http://www.medicarescreenshare.com​

How To Enroll Into Medicare:
Call Social Security at 1-800-772-1213
Enroll Online at https://www.ssa.gov/benefits/medicare/​
Go To Your Local Social Security Office

Contact Me:
How To Enroll Into Medicare Supplement:
Call Andrew at 920-960-4312
Email Andrew at MedicareScreenShare@gmail.com

How To Enroll In A Medicare Part D Prescription Drug Plan:
Call Medicare at 1-800-633-4227
Enroll Online at https://www.medicare.gov/plan-compare/​

Medicare Part A Cost 2021:
You or Spouse Paid Medicare Tax for 10 years or 40 Quarters: Free
You or Spouse Paid Medicare Tax for 30 to 39 Quarters: $259 a Month
You or Spouse Paid Medicare Tax for 0 to 29 Quarters: $471 a Month

Medicare Part B Cost 2021:
Base Medicare Part B Premium in 2021 is $148.50 a Month
Online Chart If You Make More Than $88,000 Individually or $176,000 as a Family
Link: https://www.medicare.gov/your-medicar...​

Medicare Part D Cost 2021:
Online Chart If You Make More Than $88,000 Individually or $176,000 as a Family
Link: https://www.medicare.gov/drug-coverag...​

Medicare Part A Deductibles, Copays, and Coinsurance 2021:
Part A Deductible Days 1-60 is $1,484 Per 60 Day Benefit Period
Part A Coinsurance Days 61-90 is $371 Per Day
Part A Coinsurance Days 91-150 is $742 Per Day
Days 21-100 in Skilled Nursing or Nursing Home is $185.50 Per Day

Medicare Part B Deductibles, Copays, and Coinsurance 2021:
Part B Deductible is $203
You Pay 20% Part B Coinsurance After Deductible

Medicare Part D Prescription Drug Plan Deductibles, Copays, and Coinsurance 2021:
Part D Deductible is $0 to $435
Initial Coverage Phase Limit is $4020
In Coverage Gap or Donut Hole You Pay 25% of The Cost For Brand Name Drugs and 37% of The Cost For Generic Drugs
Coverage Gap Limit is $6350
While in Catastrophic Coverage You Pay 5% For All Drug Cost

TimeStamps:
0:00​ Introduction
0:37 Medicare Part A and Medicare Part B
6:01 Medicare Advantage and Medicare Supplement Plans
10:56 Medicare Part D Prescription Drug Plans
12:31 Enrollment Game Plan
15:50 Thanks For Watching

Now Medicare is broken up into two parts, Medicare Part A and Medicare Part B. Medicare Part A pays for inpatient care at the hospital and it covers medical services that require admission into the hospital. Medicare Part A also covers time spend in a skilled nursing facilities, nursing homes, home health care, and hospice care. Most people will get Medicare Part A free because either they or their spouse paid Medicare taxes while working. If you or your spouse did not work and pay payroll taxes for at least 10 years you will need to pay for Medicare Part A out of your own pocket.

Next Medicare Part B pays for all your outpatient care. This means Medicare Part B pays for things like doctor appointments, lab tests, and surgeries that are needed to diagnose or treat a medical condition without being admitted into the hospital. Medicare Part B also covers medicare approved preventive services, durable medicare equipment, ambulance services, and drugs or medications you would not usually give to yourself, like shots or injections you get at the doctors office. Medicare Part B is not free and most people will pay $148.50 a month for it. You will need to pay more per month for Medicare Part B if you make more than $88,000 filing taxes individually or $176,000 filing taxes jointly

Now if you want better coverage than just Original Medicare you can enroll in either a Medicare Supplement Plan or a Medicare Advantage Plan. You cannot have both of them at the same time. If you choose a Medicare Supplement Plan you will stay on Original Medicare and the Medicare Supplement will pay for most of the gaps in Medicare. If you choose a Medicare Advantage plan you will replace your Medicare coverage with a private insurance plan that must cover at least what Medicare covers. You will still need to pay your Medicare Part B premium of $148.50 per month for both of these options.

Medicare Part D plans are run by Medicare approved private insurance companies and you pay a premium to lower the cost your prescription drug coverage. Every Medicare Part D plan has a list of covered drugs or a formulary. This means they put drugs into different tiers and have different cost for each tier. These Medicare Part D companies can change their formularies each and every year so it is important to alway check to see if you are on the lowest cost plan for the drugs you are currently taking.

Medicare Explained 2021: Medicare Part A, Part B, Part C, and Medicare Supplements Explained!

Видео Medicare Explained 2021: Medicare Part A, Part B, Part C, and Medicare Supplements Explained! канала Andrew Walsh