by Kristin P. Sinclair March 3, 2019
We know that Medicare has several different parts. Today we will be focus on Medicare Part B after a brief paragraph on Part A of Original Medicare.
Medicare Part A has a Hospital Deductible of $ 1,364.00 per benefit period deductible. You might be wondering what a benefit period is ? Well it is a continuous or unbroken number of days within a calendar year. So a person in the hospital as an inpatient on different occasions during a year could face several Part A Hospital Deductibles. It is very important to understand the potential Part A Deductible financial responsibility you might face. Therefore, it is very important to understand that Medicare does not cover all potential health care costs.
However this article is about Medicare Part B. In Medicare Part B, you have premiums, one annual deductible amount that applies to all of Medicare Part B covered medical events for annual period in any given year. Followed by co-pays. Let us look at Medicare Part B more closely.
In 2019 the Standard Part B Premium is $135.50 each month for most Medicare Part B beneficiaries. Premium is not the same thing as a deductible.
As you receive medical care which is a Medicare covered event, you have a deductible amount you are responsible for, and that amount is $185.00 for first
dollar out of pocket exposure. If the first care received is considered a covered preventative care service no out of pocket would be expected. However, if the care is not for covered preventative care you would have the applicable out of pocket amount due for care received for your situation until you have paid the $185.00 annual deductible for 2019.
After the deductible is reached you have coinsurance amounts you are responsible for. Medicare would pay 80% of the Medicare covered services and you would be responsible for 20% of the Medicare covered services.
It is important to know that the original Medicare has no CAP on your financial exposure if you have a lot of health care needs. So it is important to know that Medicare alone is no enough coverage. We have other articles that help you understand additional options you have.
Updated in Rock Hill SC and Charlotte NC
by Kristin P Sinclair A Accu Tax (803)329-0615
March 3, 2019