MEDICARE 2022 “IN A NUTSHELL”
M•M
COMMUNITY RESOURCES AND SERVICES
Medicare 2022 “In A Nutshell” (Parts A, B & Medigap Plans) Original Medicare is a government health insurance program primarily for people age 65 and older. It has four main parts: A, B, C & D. The chart below is an example of how Parts A & B work together with a traditional Medicare supplement also known as a “Medigap Plan.” Medicare Part A Hospital Insurance
Medicare Part B Medical Insurance
Supplemental Policy Plans A - N Medigap
Generally no cost (If you paid Medicare taxes while working)
Most people pay monthly $170.10 (Premium could be higher based on income)
Premium varies by company, age, location & other factors.
$1,556 deductible (per benefit period) It is possible to pay the $1,556 deductible and other daily charges for multiple stays & extended care.
$233 annual deductible. (this can increase each year) 80/20 after deductible.
Guarantee Issue at initial enrollment (Other special enrollment periods may be avalable) These plans generally pay the 20% not covered by Part B & other Medicare eligible benefits
Plan covers: Inpatient hospital care, home health care services, hospice, inpatient skilled nursing & more.
Plan covers: health care providers, ambulance, emergency care, outpatient surgical, wellness & other Medicare approved benefits
When this coordinates with Medicare, many benefits are 100% covered
Providers are paid by Medicare assignment.
Most doctors accept Medicare.
Can provide benefits outside USA
No coverage outside USA.
No coverage outside the USA.
No out-of-pocket maximum.
No out-of-pocket maximum.
Plans are available through insurance companies.
Many people add a Medigap plan, Part D or an Advantage Plan (Part C) to fill the “gaps” in the coverage.
Many people add a Medigap plan, Part D or an Advantage Plan (Part C) to fill the “gaps” in the coverage.
Important to add Part D plan to cover prescription drugs & avoid penalties. Must have Part A & B to enroll.
There is NO additional cost to use the services of a full time insurance professional. Please call us or a broker in your local area for additional assistance. This article was written by Craig N. Anderson, President of Anderson Benefits, Inc. located in Salt Lake City, Utah. To contact call: 877-363-9575 or craig@andersonbenefits.com 38 ALABAMA GULF COAST – SPRING–SUMMER 2022
