Medicare Part B
While most people refer to Medicare Part B as the "Doctors" part of Medicare, it in fact covers much more. People are referring to Part B when they say Medicare covers 80% this is the easiest way to think of Part B.
Doctors and Outside Services
Annual Deductible
Each year you are responsible for the first $226 of your Medicare Part B approved expenses.
Medicare Approved
You are responsible for 20% of all Medicare-approved expenses, some of these expenses include doctors’ services for both inpatient and outpatient medical and surgical services, physical and speech therapy, durable medical equipment, diagnostic test, and blood after the first 3 pints.
Excess Charges
Doctors have the option to charge over and above the Medicare-approved amount; these charges are referred to as excess charges.
You are responsible for 100% of all excess charges.
Important
There is no cap to the amount of money Medicare is willing to pay for your approved medical bills, and while this is a good thing, this also means there is no cap to the 20% and Excess Charges you may have in your life.
Here’s the takeaway...
Although original Medicare covers 80% of your medical bills... and yes you have been paying into it your entire life... you are still responsible for 20% of your medical bills with no limits.
Yes.... you read that right...
If your medical bill is $100,000, then you will be responsible for $20,000, leaving you at great risk of financial burden!
Luckily for you... a Medigap Policy will take care of those gaps!
You may start shopping six months prior to your 65th birthday! One of our licensed medicare specialists can help you pick the right plan for your needs.
There are ten standardized plans to pick from. These plans are great for people who enjoy the finer things in life, like being able to go to any doctor or facility nationwide (no networks to obey), and do not like asking for referrals to see their specialists!
If you are turning 65, there is no underwriting and you will be able to get whatever plan you want. Our most popular plan is Plan G since it has a low deductible and everything else is covered at 100%!
Our company represents the major insurance companies in the market and at no cost to you, we will review your needs and help you pick a plan!
We just reviewed a lot of information and are happy to answer any further questions you may have! Feel free to get your free quote below or call us directly at (800) 691-7972!
Medicare Open Enrollment
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We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800 MEDICARE to get information on all of your options.
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Last updated: 01.05.2023 at 12:01 AM MULTIPLAN_SHDLEAWE002_M