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Medicare Supplemental Plans in Minnesota

Medicare Plans

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:

  1. You either receive or qualify for Social Security benefits

OR

  1. You live in the United States and are either
    1. A U.S. citizen or
    2. A permanent U.S. resident who has lived in the U.S. continuously for five years prior to applying
    3. 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 2018 the deductible for Medicare Part A is $1316 and Medicare Part B is $183.00. Here’s more detailed breakdown.

Who needs Medicare supplemental 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 Supplement, 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 2018 you will pay:

  • $1,316 2018 Medicare deductible for each benefit period
  • Days 1-60: $0 coinsurance for each benefit period
  • Days 61-90: $329 coinsurance per day of each benefit period
  • Days 91 and beyond: $658 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
  • Beyond lifetime reserve days: all costs

Medicare Part B deductible and coinsurance is $183 per year

After your 2018 Medicare deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.

  • 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.

Medicare 2018 Part A premium

Many, if not most people won’t have to pay a monthly premium for Part A Medicare in 2018. If you have to buy Part A – you will pay up to $413 each month.

Medicare 2018 Part B premium

The standard Part B premium amount is $134 (or higher depending on your income). However, most people who get Social Security benefits will pay less than this amount ($109 on average).