Original Medicare

Original Medicare

I have a live call-in radio show every Thursday at 7:00 pm EST on an Oldies station in Palm Beach Florida. To listen go to trueoldisfla.com. On the upper right on the homepage, you will see a listen live button. Just click on that button and you can listen to the Mr. Medicare show live every Thursday at 7:00 pm EST.

The topic of last week’s show was Original Medicare. I will review some of the questions that came up regarding Original Medicare.

“How is original Medicare different from regular health insurance?”

The major difference is that Medicare is a federal government program. It is not run by private for profit insurance companies. Everyone who is 65 is eligible for Medicare. There are no networks in original Medicare. You can go see any doctor, go to any hospital or see any specialist. As long as the doctor, hospital or specialist accepts Medicare. This is a major difference from regular health insurance because they often limit where you can be treated and covered.

“What does Original Medicare cover?”

Original Medicare covers you in two parts. Part A covers you if you are hospitalized. Part B covers all of your Medical items. There is a part A hospitalization deductible then Medicare covers 80% of your hospital bill and the individual is responsible for the remaining 20%. There is an annual part B deductible then Medicare pays 80% of all of your medical bills and the individual is responsible for the remaining 20%.

“What does part A of original Medicare cost?”

There is no monthly premium for part A of Original Medicare, if you have at least 40 quarters of social security benefits.

“What does part B of original Medicare cost?”

The current part B monthly premium for 2021 is $148.50 a month. If you are receiving social security benefits, the Part B monthly premium will be automatically deducted from your monthly social security. If you are not receiving social security at this time you must contact social security and make payment arrangements until you begin to receive social security.

People who are very healthy, take no medications and tell me their parents are doing well and they take no medications may feel comfortable with just signing up with original Medicare and nothing else. However, if you are taking prescriptions and want peace of mind that if you get sick you will not have to worry about medical bills, you should look at Medicare Supplemental coverage. These plans cover what original Medicare does not cover and you will not have to worry. This will provide you with 100% coverage.

In some areas of the country with large senior populations, the Medicare Advantage plans are popular. These plans are not federal Medicare. These plans are from private health insurance companies.

If you have more questions about this topic please reach out. Call me toll free: (844) 466-7283(SAVE) or email me at: harold@thesolomoninsurancegroup.com.