MEDICARE PART A
$0 for most people (because they or a spouse paid Medicare taxes long enough while working - generally at least 10 years). If you get Medicare earlier than age 65, you won’t pay a Part A premium. This is sometimes called “premium-free Part A.”
If you don’t qualify for premium-free Part A: You might be able to buy it. You’ll pay either $278 or $505 each month for Part A, depending on how long you or your spouse worked and paid Medicare taxes.
Remember:
You also have to sign up for Part B to buy Part A.
Deductible | $1,632 for each inpatient hospital benefit period , before Original Medicare starts to pay. There’s no limit to the number of benefit periods you can have in a year. This means you may pay the deductible more than once in a year. |
If you have Just Part A there is NO MAXIMUM OUT OF POCKET. SO I YOUR GROSS BILL IS 200,000 YOU PAY $40,000.
WITH ALL MEDICARE ADVANTAGE PLANS YOU HAVE A MAXIMUM OUT OF POCKET WHICH IS A CAP ON HOW MUCH YOU WOULD PAY IN A YEAR, BETWEEN $4000 AND $6700 IN MAINE..
MEDICARE PART B
DEDUCTIBLE-
You’ll pay $240, before Original Medicare starts to pay. You pay this deductible once each year. | |
Costs for services (coinsurance) | You’ll usually pay 20% of the cost for each Medicare-covered service or item after you’ve paid your deductible. |
If you have Just Part A there is NO MAXIMUM OUT OF POCKET. SO I YOUR GROSS BILL IS 200,000 YOU PAY $40,000.
WITH ALL MEDICARE ADVANTAGE PLANS YOU HAVE A MAXIMUM OUT OF POCKET WHICH IS A CAP ON HOW MUCH YOU WOULD PAY IN A YEAR, BETWEEN $4000 AND $6700 IN MAINE..
PART D- YOU WILL NEED TO PICK UP A MEDICARE PART D PRESCRIPTION PLAN THE COST IS BETWEEN .50 PER MONTH TO OVER $100 PER MONTH. EACH PLAN HAS A FORMULARY AND WE CAN LOOK UP WHICH PLAN WILL SAVE YOU THE MOST.
Medicare Advantage Plan (Part C):
Monthly premiums vary based on which plan you join. The amount can change each year.
You must keep paying your Part B premium to stay in your plan.
Deductibles, coinsurance, and co-payments vary based on which plan you join.
Plans also have a yearly limit on what you pay out-of-pocket. Once you pay the plan’s limit, the plan pays 100% for covered health services for the rest of the year.
MOST MEDICARE PLANS PART C INCLUDE A PRESCRIPTION DRUG PLAN AND SOME PLANS ARE AVAILABLE FOR AS LOW AS ZERO PER MONTH.
YOU NEED MEDICARE A AND B TO HAVE A PART C MEDICARE ADVANTAGE PLAN.
PART A IS USUALLY FREE IF YOU WORKED 10 YEARS AND PART B IS $174.70 each month (or higher depending on your income). The amount can change each year. You’ll pay the premium each month, even if you don’t get any Part B-covered services.
SO THE ANSWER TO WEATHER TO JUST HAVE PART A AND B..IT IS NOT RECOMMENDED BECAUSE OF THE DEDUCTIBLE AND THE LACK OF A MAXIMUM OUT OF POCKET.