Medicare Part B - Medical Insurance
Medicare Part B is the medical insurance portion of Medicare. It covers your doctor visits, outpatient procedures, durable medical equipment, and other things dealing with the "non-hospital" procedures. Medicare Part A and Medicare Part B make up what is known as Original Medicare. Original Medicare took effect in 1965 and has been providing seniors with health insurance ever since.
Medicare Part B Costs
Medicare Part B has a monthly premium of $99.90. If you have read other articles on this site you will know that Medicare Part A is free for those who have worked 40 quarters. Medicare Part B can have a higher premium monthly if you are a high income earner.
Medicare Part B also has an annual deductible. In 2012, this deductible is $140 and is expected to increase to the $150 range in 2013. Numbers have not been released yet by Medicare showing the actual numbers.
Medicare Part B Supplemental Coverage
Medicare Part A and Part B have gaps in coverage (deductibles, co-insurance, and co-pays). Most people chose either a Medicare Supplement/Medigap Plan or a Medicare Advantage Plan to help supplement their Medicare coverage
. Medigap plans have the same benefits all over the country (minus Minnesota, Massachusetts, and Wisconsin), which means that one insurance company's Plan F Medigap plan is no different than any other company's Plan F policy. This makes comparison of these plans much easier. Also the Plan F picks up all the deductibles, coinsurance and copays of Medicare Part B.
Medicare Advantage Plans are private insurance plans that take over Original Medicare. They will begin paying your Medicare Part A and Medicare Part B claims and can provide you with additional benefits not seen in normal Medicare insurance. These plans will usually have some restrictions such as which providers or hospitals you can go see. These benefits can vary by county and will change each year which means that you need to compare thoroughly before choosing one of these plans.
Medicare Insurance Finders can help you compare Medicare Supplement Plans in less than 2 minutes on their homepage. Click Here Now for a quick quote.