Archive for Month: October 2018
2019 Medicare Part B Changes
2019 MEDICARE PREMIUMS AND COPAY/DEDUCTIBLES
2019 PART B PREMIUM
The Medicare Part B standard monthly premium will be $135.50 in 2019, compared to $134 in 2018.
Note: The income-related Part B premiums for 2019 will vary depending on the extent to which an individual beneficiary’s income exceeds $85,000 (or a married couple’s income exceeds $170,000).
Income level- File Individual
Income Level- File Joint
2019 Part B Premium
|Less than or equal to $85,000||Less than or equal to 170,000||$135.50|
|Greater than $85,000 and less than or equal to $107,000||Greater than $170,000 and less than or equal to $214,000||$189.60|
|Greater than $107,000 and less than or equal to $133,500||Greater than $214,000 and less than or equal to $267,000||$270.90|
|Greater than $133,500 and
less than or equal to $160,000
|Greater than $267,000 and
less than or equal to $320,000
|Greater than $160,000 and less than $500,000||Greater than $320,000 and less than $750,000||$433.40|
|Greater than or equal to $500,000||Greater than or equal to $750,000||$460.50|
As always, 2019 Medicare supplement benefits match the federal program’s deductible and coinsurance increases, a distinct advantage in today’s ever-changing environment.
|2019 Medicare Supplement Copay/Deductibles|
|Feature||2018 Benefits||2019 Benefits|
|Part A Inpatient Hospital Deductible||$1,340||$1,364|
▪ 61-90 days
▪ 91-150 days (lifetime reserve)
|Skilled Nursing Facility Care Coinsurance
▪ 21-100 days
|Part B Physician’s Services and Supplies Deductible||$183||$185|
Medicare Part A
Medicare Part A usually begins when turning age 65. Medicare Part A coverage is typically free if you or a spouse paid Medicare taxes during your working career. The majority of Americans are automatically enrolled in Medicare Part A when they are 65 years old. To receive Part A you must be already eligible to receive retirement benefits, either through Social Security or the Railroad Retirement Board. However, you do don’t have to be actively collecting Social Security benefits as many people wait to file. Disabled Americans who are under age 65 and receive Social Security or Railroad Retirement disability benefits are often eligible for Part A after 24 months, and those diagnosed with End-Stage Renal Disease can obtain Medicare Part A.
Key Points of Medicare Part A
- Americans may receive their Medicare Card three months before their 65th birthday
- If you receive Social Security checks and turn 65, you are enrolled in Medicare Part A automatically
- Most Part A beneficiaries will pay zero premium if they contributed 40 or more quarters of work
- Medicare Part A becomes effective the 1st day of the month of the beneficiaries 65th birthday
What does Medicare Part A Cover?
Medicare Part A is mostly associated with inpatient hospital care. Here is what you pay:
- $1,364 annual hospital deductible
- Days 61-90: $341 per a day
- Days 91 and later (while using 60 lifetime reserve days): $682 per a day
Important: After lifetime reserve days are used Medicare pays nothing, the beneficiary is responsible for all hospital charges.
Keep in mind the above information only lists costs for Medicare Part A. You would also have Medicare Part B costs.
Blood covered under Medicare Part A
Part A annually covers the first three pints of blood at no cost to the beneficiary. The Medicare beneficiary is responsible for paying for all additional pints of blood per calendar year.
What Else does Part A Cover?
Medicare Part A covers expenses that are incurred during a stay in the hospital as well as brief Home Health services for some situations, and sometimes brief Hospice care and Skilled Nursing Facility care, and occasionally Nursing Home care, provided you are not merely in need of assistance with daily living. Mental health care is also a covered service when admitted to a hospital as an in-patient.
Medicare Part A does not cover cosmetic surgery, acupuncture, eye exams for the purpose of prescribing glasses, most dental work, dentures, standard foot care, custodial care or hearing aids and the exams required for fitting them.
Need Help Understanding Medicare Part A?
The easiest way to get help with understanding Medicare Part A is to fill out a request online to speak with us. It only takes ten or fifteen minutes to do a brief overview to Medicare Parts A and B. In the event that more information is needed, we could help direct you to your local Social Security office for an in person appointment.
While Medicare may seem confusing, we strongly urge you to contact us sooner than later. We find many Americans spend a great deal of time looking at the wrong Medicare products or over complicating how Medicare works. Sometimes a nice conversation with a knowledgeable person, can greatly ease the tensions that come with learning something knew and transitioning to Medicare.
What if I want Medicare with No Co-pays or Deductibles?
Medicare with no cost sharing is no problem. About 25% of all Medicare recipients have Part A and Part B. They add a Medicare Supplement to cover their deductibles and co-pays, and Part D, a prescription drug plan. Our office can easily help with this process. As always, our services are no cost to you.
Aetna Dental Insurance with Added Vision and Hearing
Aetna Dental, Vision, and Hearing offers valuable protection by including three types of coverage in one policy. Aetna is trying to help your family smile bigger and brighter, protect healthy vision to see clearer, and hear the world just that much better.
- Guaranteed Acceptance – No Health Questions
- Guaranteed Renewable – as long as you pay your premiums on time
- Issue ages 0-89
- For individuals or families
- Choose $1,000 or $1,500 max benefit per policy year that covers dental, vision, and hearing per person
- Plan deductible is $100 per policy year per a person
- Freedom to choose any provider or get even better pricing by using Aetna in-network providers
- Benefits paid directly to insured or to the provider
- 30-day free look – return your policy for any reason within 30 days for a full refund of all premiums paid
When does my Aetna Coverage Begin?
- Dental Coverage
- Day 1 for cleanings, x-rays, exams, filings
- After 1 year for endodontics, root canals, periodontal surgery, bridges, crowns, and dentures
- Vision Coverage
- After 6 months
- Hearing Coverage
- After 12 months