Medicare 101: Medicare Part A, Part B, Part C, and Part D Explained

Andrew Walsh
Phone: (920) 960-4312
Email: [email protected]
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

How To Enroll Into Medicare Supplement:
Call Andrew at 920-960-4312
Email Andrew at [email protected]

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

Updated Medicare Information For 2022:

Medicare Part A Cost 2022:
You or Spouse Paid Medicare Tax for 10 years or 40 Quarters: Free
You or Spouse Paid Medicare Tax for 30 to 39 Quarters: $274 a Month
You or Spouse Paid Medicare Tax for 0 to 29 Quarters: $499 a Month

Medicare Part B Cost 2022:
Base Medicare Part B Premium in 2021 is $170.10 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 2022:
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 2022:
Part A Deductible Days 1-60 is $1,556 Per 60 Day Benefit Period
Part A Coinsurance Days 61-90 is $389 Per Day
Part A Coinsurance Days 91-150 is $778 Per Day
Days 21-100 in Skilled Nursing or Nursing Home is $194.50 Per Day

Medicare Part B Deductibles, Copays, and Coinsurance 2022:
Part B Deductible is $233
You Pay 20% Part B Coinsurance After Deductible

Medicare Part D Prescription Drug Plan Deductibles, Copays, and Coinsurance 2022:
Part D Deductible is $0 to $480
Initial Coverage Phase Limit is $4,430
In Coverage Gap or Donut Hole You Pay 25% of The Cost For Brand Name Drugs and 25% of The Cost For Generic Drugs
Coverage Gap Limit is $7,050
While in Catastrophic Coverage You Pay 5% For All Drug Cost

TimeStamps:
0:00 Medicare Enrollment
2:20 How to sign up for Medicare
5:25 Medicare Part A
6:18 Medicare Part B
9:32 Medicare Part C
13:07 Medicare Part D
9:32 Medicare Advantage vs Medicare Supplements
8:49 Medicare Cost
15:29 How to sing up for Medicare Part D
14:02 Donut Whole

Okay there are 5 major parts to Medicare, and you can see the first four here with Parts A, B, C, and D. Part A and B are what makes up original Medicare. Part A is your hospital insurance and it helps cover you for inpatient care in the hospital, skilled nursing care, hospice care, and home health care…

Part B is your medical insurance and it helps cover services from doctors, healthcare providers, outpatient care, home health care, durable medical equipment, and some preventive services…
So basically part A pays for your room and board at a hospital and part B pays for your doctors and the equipment they use…

Part C or Medicare Advantage is not part of original Medicare and is run by Medicare-approved private insurance companies. This plan replacing your Medicare parts A and B with a private insurance plan, and it must at least cover what Medicare parts A and B cover. Some plans even offer prescription drug coverage along with other benefits…

Medicare Part D or Medicare prescription drug coverage helps cover the costs of prescription drugs. It is also run by Medicare-approved private insurance companies and you pay a premium to lower the cost of your prescription drugs….

Now like I said you should check your drug plan each and every year to see if the formulary has changed. All you need to do is call Medicare at the number above or go to the medicare.gov website and click on “find health and drug plan” button.

And as always remember if you have any questions make sure to call me at (920) 960-4312 or shoot me an email at [email protected]. Thanks again and have a wonderful day!