I'm gonna talk about Medicare Part B
I'll show you what it covers and I'll show you what it costs and it's certainly important to understand
Because we don't all pay the same for Medicare Part B. So stay tuned. Okay
More parts of Medicare, so we have a number of different parts of Medicare that we need to understand this one
I'm will talk about Part B, which is a big big part of Medicare
So we certainly need to understand how it functions and how much we're supposed to pay for Part B
So we actually have to pay to have our Part B, but it's important to have so we need to understand it completely
So when we talk about the parts of Medicare, we're talking about Part A Part B Part C
Part D. And then throw in the extra little piece in there Medicare supplements
Otherwise known as Medigap coverage
So it's important to understand all these parts and you may have just watched the video that I just did on Part A
So certainly important to understand that Part A is about half of Medicare Part B is about the other half of Medicare
So we need to understand exactly how they function. So on this video. We're going to talk about Part B, and it's certainly
Different and we need to understand how it functions. So we're comfortable with what we have. So when we talk about Part B
Part B covers, what's considered?
outpatient services so Part A covers
Inpatient services in the hospital stuff that goes on in the hospital Part B covers
outpatient stuff that goes on outside of the hospital whether it's a doctor's office visit or a specialist visit or
Outpatient surgery, that's all under Part B
So we need to understand that part a is inpatient stuff in the hospital Part B is outside the hospital
so not too complicated to figure that out and understand and it doesn't really come into play all that much to
Need to know exactly what it covers because you're just gonna give him your Medicare card when you get there anyway
but let's understand Part B and how much it costs and
What out-of-pocket expenses there are so you can see here the standard Part B premium
a hundred and thirty-four dollars a month, so when you come into Medicare
You're likely
Going to pay a hundred and thirty four dollars a month for your Part B
It's not too bad compared to what you might have been paying for your health insurance up to now now if you are
currently drawing Social Security
They will take that out of your Social Security check so they do it automatically
They'll take it out of your Social Security check if you are not yet drawing Social Security
They're gonna send you a bill and they're gonna bill you quarterly
So you need to understand that for sure that you're gonna be paying three months at a time
For your Part B. So you got to manage that payment as it comes quarterly
So important to understand how you're gonna pay for the Medicare Part B
And I'm going to show you in just a minute
You might pay more than that and you might pay a lot more than that
And it's based on income and how they look at the income
And then I also show you how to appeal it
if you think
that you're paying too much and
I'll show you. I'll kind of run through that real quick and I have all the forms for you
I'll show you where to get them and how to do it all that stuff. So let's look at what the
Coverages on Part B and what your out-of-pocket expenses are so Part B
Covers outside of what Part A covers, so it's the outside the hospital stuff it pretty much
covers 80%
So it has a deductible first. So you're gonna pay the first hundred and eighty three dollars
That's the 2018 deductible
It usually changes a little bit each year, but not usually a lot but a little bit and then it's going to be pretty much
80/20 so Medicare is gonna pay eighty percent. You're gonna be responsible for 20% Now the problem with that it sounds pretty good
8020 coverage not so bad. The problem is the 20 has no stop to it. So
You know if you have $1,000 a year
No problem. You're gonna have a $200 out-of-pocket expense
If you have a $10,000 year, you're gonna have a $2,000 out-of-pocket expense
the problem is if something serious comes along and you have
$100,000 a year
Then you got a $20,000 out-of-pocket expense or god forbid and it certainly does happen
You have a million-dollar year you can have a $200,000 out-of-pocket expense
So for the most part when you have Medicare a Medicare B, most people generally get a Medicare supplement
That covers what a and B do not so you have a much lower out-of-pocket
So for instance if he had a plan G Medicare supplement, your only out-of-pocket would be the deductible on Part B
$183 it would cover the 20% it would cover the hospital deductible so forth and so on so
Certainly important to understand and that's what I do. I help people figure out their Medicare choices. I'm an insurance broker
I do not work for any insurance company. I work on your behalf and I help you. Make sure
That we get it right from the start. So I would certainly appreciate it if you'd allow me to help you
That's how I make my living. There's no cost to you for using me to help you and
Whatever insurance carrier, we do choose they pay me to act as your service agent
So it works out great for everybody involved and make sure that you get exactly what you want to get
when you come into Medicare, so this is the Part B premium chart so
if you make less than 85,000 single or
170,000 joint married, you're gonna pay the hundred thirty four dollars a month. So that's not a very high bar
So if you make more than that, you can see on this chart
It goes all the way to four hundred twenty-eight dollars a month
If you make more than one hundred and sixty thousand dollars
Filing a single or more than three hundred twenty thousand dollars filing joint and where they look at this
Information is two years ago. So if we're sitting in 2018, they're looking at income from
2016 because you haven't filed your taxes. It's not in place for sooner than that. So if you made
higher than eighty-five thousand
170,000 joint two years ago. This is what you're gonna pay for your Part B premiums and you can see
It it can fluctuate some so it changes year to year, but usually not a whole lot also
but you have the potential to
Pay more than three times to get to the
$428 a month then what some other folks pay so you want to make sure you
understand this completely and a lot of times people made income two years ago that they are not making now and
If that is the case, you can't appeal this and this is called herma is what the term is for their
additional premiums and I have all this stuff in the guides and forms on
Medicare on video comm I'll show you that in just a minute
But you can get the brochure that talks about how to appeal your mo premium
And I also have the form there for you to be able to easily fill it out and submit it to
Make that appeal and hopefully they can lower your Part B premium if that is the situation you are in
So make sure you know
You certainly visit and then I also have this which is your Medicare benefits
If you want to dig deep into what a and B cover
Specifically like how many pints of blood or what do they do for an ambulance or things of that nature?
It's pretty much regular health insurance so stuff that's medically necessary
Pretty much falls into it
But there are some specialty type scenarios that people
need a little more information so you can get this guide as well in my guys and forms and this stuff all you can just
Download it and it'll be on your computer. You can have it now. You can keep it for later
Whenever you need it, so just visit Medicare on video comm. I've got a lot of great information here that you
Might need now or you might need in the future
So just kind of keep an eye on it and know how to get back to it when you need it
But you can see right in the middle. You can get a immediate quote on your Medicare supplement insurance
and again
That's primarily what I do is help you figure that out find the right plan
with the right company in your zip code for the right price, and it's certainly
Important again to get it right the first time because we had an open window
When you come into Medicare where we can pick anything we want and they can't say no once we're in Medicare
It's different
You have to then go through medical underwriting and be approved now
So we want to get exactly what we want and put it in place
Where we want it. So while you're there you can also get a discount prescription drug card for free
Just click on that discount prescription drug
On top it'll download on your computer and it will save you some dollars on your prescription drugs
So feel free to make sure you get a copy of that visit the Resource Center so you can find my videos here
You can also find the guides and the forms that I'm talking about where I have
Lots of information that you can get on
Just about any piece of Medicare and this is where you can get all those Irma forms so you can get the how to appeal
You can get the appeal form
You can also get an employer coverage form if you are still working and you're gonna retire past 65
They're gonna need you to have this form filled out by your employer. So you don't have a penalty on your Part B
so if you're gonna retire in the next six months
Get this form now get it to your HR department for them to fill out so that you can give it to Social Security
When you're gonna sign up for Medicare that way you won't have a penalty on your Part B
So very important to have you could also get a copy of my book. I have a book called Medicare made clear
Which pretty much covers every piece of Medicare so whether you need it now
Or whether you might need it in the future
Great to have on your computer or your iPad and you can reference it whenever you need it
so make sure you download a copy of my book and
that will certainly help you as you go if you want to see more of my videos the best places on YouTube and
Trying to make it easy for you to get there if you go to
WWE
Video comm it's gonna take you right to my youtube channel and you can search through you can see right now
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That way you'll always have access to my videos
but that's a that's pretty exciting to have that many subscribers for
What basically is an insurance guy working trying to help people with Medicare and if you need?
Specific video information just use the magnifying glass as a search, but whatever topic you want
It'll bring up the videos that relate to that topic Part A Part B drug plans
Supplements whatever it may be it'll bring up the videos that relate to whatever subject it is you need
So I hope you found this helpful, and I'm certainly happy to help with any of it
So by all means visit Medicare on video comm sin
Give me a phone call. I'm happy to help with any of it
and what I can promise you is that we will make sure to get all your pieces in the right places and then that way
You don't ever have to think about health insurance again
It'll do exactly what it's supposed to do and you'll have it right from the start
So I hope you found this helpful and have a fantastic day