Medicare Insurance Services in Crystal, MN
Who qualifies for Medicare
At age 65 most US Citizens qualify for Medicare. Medicare Part A covers your hospital visits. Medicare B covers your doctor visits. Medicare Part D covers your prescription drugs. When you turn 65, you become eligible for Medicare if:
- You either receive or qualify for Social Security benefits
OR
- You live in the United States and are either
- A U.S. citizen or
- A permanent U.S. resident who has lived in the U.S. continuously for five years prior to applying
- Some people may qualify for Medicare if they are not 65. Those who are disabled and have been on Social Security receiving payments for 24 months.
How much you have to pay for your Medicare coverage depends on your work history (if and how long you have paid Medicare taxes). Most Medicare beneficiaries must pay a monthly premium for their medical insurance (Part B). Exception low income Medicare beneficiaries may qualify for help paying Part B and Part D premiums. Beneficiaries with Medicare get their hospital insurance (Part A) premium free of charge.
Why you should have a Medicare Plan
If or when you incur medical bills, either doctor visits or hospitalization, once your deductibles are met Medicare only covers about 80% of these costs. For 2024 the deductible for Medicare Part A is $1632 and Medicare Part B is $240.00. Here’s more detailed breakdown.
Who needs Medicare insurance
Hospital and doctor bills can add up. Only having Medicare could cost you thousands of dollars. Medicare plans can fill in the gaps that Original Medicare leaves behind. Medicare plans are very affordable, you will want to supplement your Original Medicare with a good Medicare Cost or Advantage plan. These types of Medicare plans all will help pay for deductibles and coinsurance that Original Medicare will not cover.
Part A hospital inpatient deductible and coinsurance
In 2024, the Medicare Part A deductible is $1,632 per benefit period and the Part B annual deductible is $240. The Centers for Medicare & Medicaid Services (CMS) releases new premiums, deductibles and coinsurance amounts for Part A, Part B and the Medicare Part D income-related monthly adjustment amounts every fall.
Original Medicare requires that you pay a deductible for each inpatient hospital “benefit period, which means you may have to pay a deductible more than once in a single year.
A benefit period begins the day you’re admitted to a hospital or skilled nursing facility and ends when you haven’t spent the night in one of them for 60 consecutive days. If you’re admitted to a hospital or skilled nursing facility after one benefit period has ended, then a new one begins, and you’ll have to pay another deductible.
The 2023 Medicare Part A deductible for each benefit period is $1,600.
The annual deductible for Medicare Part B
Medicare Part B Premiums/Deductibles
Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.
Medicare Part B covers most doctor services, including those you receive while hospitalized, as well as outpatient therapy and the rental or purchase of durable medical equipment, which is equipment your doctor prescribes because it is medically necessary, like blood sugar monitor test strips, walkers or wheelchairs. After your deductible is met, it’s typical to pay 20% of the Medicare-approved amount for these services.
The total 2024 Part B deductible is $240 for the year. No benefit periods apply to Part B coverage.
The increase in the Part B premiums and deductible is largely due to rising spending on physician-administered drugs. These higher costs have a ripple effect and result in higher Part B premiums and deductible.
From day one, President Trump has made it a top priority to lower drug prices. Currently, for Part B, the law requires CMS to pay the average sales price for a drug and also pays physicians a percentage of a drug’s sale price. This incentivizes drug companies to set prices higher and for physicians to prescribe more expensive drugs because that leads to a higher Medicare payment. Through the President’s drug pricing blueprint, the Trump Administration is working to lower drug prices in Medicare Part B drugs.
- The Part C monthly premium varies by plan. Compare costs for specific Part C plans.
- Part D premium monthly premium varies by plan (higher-income consumers may pay more). Compare costs for specific Part D plans.
At Mr Health Insurance, we believe in providing our clients with personalized Medicare insurance services that can help them live comfortable and happy lives. We have served countless clients throughout Crystal, MN, and the surrounding areas, and we are excited to help you too. We can offer you helpful supplemental Medicare insurance so that your medical needs can be fully covered.
We understand that finding the right insurance coverage can be complicated. Let our team of licensed and experienced Medicare insurance experts provide you with the counsel, tips, and plans that can ensure your medical needs are covered in the event of an emergency or unexpected medical condition. We can offer you affordable rates that are sure to give you peace of mind.
Reach out to a friendly member of our team today and see the difference that our Medicare insurance coverage can provide to your medical needs. For more helpful information and to learn more about our Medicare insurance services, be sure to visit our helpful contact page and speak with a member of our team.
Contact us
sales@mrhealthinsurance.net
612-991-3546
“Currently we represent seven organizations which offer 37 products in your area. Please contact Medicare.gov, 1–800–MEDICARE, or your local State Health Insurance Program to get information on all of your options.”