Medicare Deductibles - How and When Do You Pay Them (Our Pro Tips)
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- Опубліковано 12 вер 2019
- What is a Medicare Deductible? Medicare deductibles are the amount of money you will pay out of your own pocket before your benefits kick in. This is the money you pay upfront. This video explains how and when you pay your Medicare deductibles.
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What costs with Medicare are you the most concerned about? Let us know here in the comments!
I will sign up on 12/1/2020
@@michaelstokes7314 is your birthday in December?
No, I will still be employed to the last day of November.
My birthday is in March
Just so you know, your Medicare won't start until March 1st. You may go 3 months without coverage since your employer coverage will likely end the day your stop employment.
One of the hardest parts of Medicare! Thanks for a great explanation
This is such a great video! Especially the part about when to pay the deductible to the physician. That is so confusing.
I start Medicare in November and have signed up for a Supplement plan and Drug plan thru Boomer Benefits. Robin was a great help in finding and explaining the right plans for me.
So glad to hear this Bob! We'll be here for anything you need.
I turn 65 in October. That's a really good idea to use your current insurance and get the prescriptions that will last till the end of the year!! Thank you for this valuable information!!
You are welcome, Donna! Thanks for watching.
Thanks for clearing that up and the free resources! Great channel
Well done, thank you.
My month is December. Thank you for this; very informative.
If you turn 65 in December, you're initial enrollment period begins September 1st, 2019
Outstanding video! We plan to use your company for Medicare in about 20 months and need to enrolled in Medicare.
I will enter Medicare in June 2021 but my wife will be 58 and she does enter Medicare until December 2029.
That makes our day, Alberto! We'll be here when you are ready.
Beginning Part B October 1. Have a scheduled Doctor visit in December, and that usually involves lab work.
Hi Glenn, Part B will pay 80% of medically necessary lab testing after you first pay the once-annual Part B deductible. If you have Medigap plan F or C, those plans will pay that deductible for you.
I think this is wrong. Medically necessary Lab tests should be covered at 100% with no deductable or coinsurance.
@@annmcconnell2099 No. Medicare Part B only covers 80% of medically necessary services. There are a few preventive care services that Medicare Part B will cover at 100% once a year or so, but not lab work.
Yes
Not yet eligible for Medicare, but I've been watching your videos for awhile now and feel more informed. I'll be contacting you in March of 2021 to take care of my Medicare insurance for me! Thanks!
We're happy to hear that we can clear some of the confusion. We look forward to being able to help you.
I'm eligible to enroll now, B'day in Nov. Good info on the late en-rollers maybe paying the deductible twice.
You do a great job with these informational videos, I'll be calling Boomer Benefits in a couple of weeks 👍.
Thanks for that feedback and for the opportunity to earn your business. We'll take great care of you!
My month is February. Thanks for this video.
If you turn 65 in Feb 2020, you're initial enrollment period begins November 1st, 2019
Mahalo 4 the info..aloha
great advise, thank you
august, already in medicare. used boomer benefits for plans tnahks
Glad you are part of our client family now, Tom!
Tom Casey what’s boomer benefits ? Tom
May thanks.
If you turn 65 in May 2020, you're initial enrollment period begins February 1st, 2020
Started 1 Aug,,, So, there is another Gap plan for Part A as well?? I have one for part B, but not realize there was another one for A...My Goodness...( Yes I went thru Boomer Benefits for all my Medicare needs..Awesome service. I have recommended you guys to many of my friend that are needing assistance)
Thanks for the referral Connie! You only need one Medicare supplement - most supplements pay for the Part A deductible. Plan F also covers the Part B deductible. You only need the one supplement, fortunately!
Thanks for the information. I have an active date of December 1, 2019. I turn 65 December 22nd
Your initial enrollment period is already happening then, so if you haven't signed up for Medicare yet, you can do so any time.
I turn 65 12/25/2020. Like your info. I'm subscribed.
Another tip for those New to Medicare late in the year is to enroll in a $0 deductible Part D for the current year and enroll in the lowest out of pocket cost for next year.
I have a question about "Not on Formulary" drugs. When running a comparison, PlanFinder assigns a cost to drugs NoF for the pharmacies selected. The cost is often different for the 3 plans and pharmacies. And the current PlanFinder includes the full price for NoF drugs in the out of pocket costs for the three plans you are comparing. Is the price listed what you would pay for that drug at that pharmacy even though the Plan says it isn't on their formulary?
The new plan finder tool definitely has it's flaws. For example, the total cost of drugs for the remainder of the year on the new plan finder tool doesn't include your monthly premium, whereas the old plan finder tool includes that in the total. We are still learning all about the new plan finder tool too. After looking into the plan finder tool for your specific question, yes, the estimated cost for the rest of the year includes NoF drug costs. The price of the NoF drug listed is what you would pay at that pharmacy that you're viewing. We hope this helps.
Thanks Danielle
I am mid year entering Part B as of July 1st.
I will be starting Medicare on 5/1/20.
Hi Mark, your initial enrollment period will begin on February 1st then.
If you turn 65 in May 2020, you're initial enrollment period begins February 1st 2020
I get answers and a clear explanation here that are hard to find on other Medicare sites on the internet.
Do you wait for the pharmacy to bill the Part D before you pay the deductible or just pay the pharmacy when you pick up the drugs?
The pharmacy submits a claim live to the plan, get feedback of what they should charge you, which would include deductible. So you would pay towards the deductible at the pharmacy.
I will turn 65 this October. I have good coverage thru my employer now, but the company is eager for me to get on Medicare ASAP and off the company plan. The deductible for my current insurance is paid for this year, so I want to get all the use out of it before I lose it. As I understand it, I can wait until January 2020 to sign up for Medicare and a Medigap Plan. Is that correct?
Thanks, Ken W.
If you turn 65 in October 2019, you're initial enrollment period started July 1st 2019. You have until January 31st to enroll in Medicare, but if you enroll after your birthday, your Medicare coverage will be delayed. View the chart on this page to show you when your Medicare will start based on when you apply. boomerbenefits.com/new-to-medicare/apply-for-medicare/
I'm calling your office during the California Birthday Rule period to switch my Supplement Plan to a different Plan G provider. Can I also review my Part D during this period was well? Thank you, really good videos.👍🏾
You can only change your Part D plan during the Annual Election Period. That period ended on December 7th.
I turn 65 in June 2020 so I'll sign up for Medicare A and B in March 2020
I start in December 2019
HI Tom, you are already in your Medicare initial enrollment period then. You can sign up for Medicare immediately if you wish to do so.
I am currently employed with a very good health plan. I am 68 and will most likely retire in January 2020. Should I enroll in now (during the current enrollment period which ends December 7, 2019 or wait? I will have health coverage from my company for one month after I retire.
Hi Chris - this is a great question - thanks for asking. You will have a Special Enrollment Period when you retire so you don't have to make any plan selections during the Fall open enrollment. If your work coverage will end on January 31st, you'll be able to get your Medicare supplement to start on February 1st using that special election period, etc
Why doesn’t the medical offices who knows the patients that have Medicare not ask for the deductible ? Some patients want to be treated or get their exam will be pressured to pay first if you want to see the doctor. There should be penalties for doing that to the older generation. Your videos are so informative. Thanks...I entered in October of 2020 and your last part about part D was excellent info.
We agree, it's frustrating that they don't just know not to request payment up front. But unfortunately. most doctor's majority of patients aren't Medicare beneficiaries and they are used to billing methods for under 65 insurance plans. Medicare is a whole new ball game and many offices aren't fully aware of Medicare's nuances.
We're happy to hear you're enjoying our videos :)
I started Medicare in March 1st...When will my deductible start..I like your channel..its informative.....I am worried starting this,I had Cigna before and im concerned....
Your Part B deductible is annual (from January 1 until December 31st and restarts again on January 1st). You will start paying your deductible as you use Part B services.
Another helpful video! I am interested in checking out a high deductible supplemental (either G or N) plan. However I have searched your YT site and don't see any videos. Do you have one that explains the ins/outs of HD Medigap plans? Thanks.
Hi Dan, there are only two high-deductible plans, high-deductible Plan F and high-deductible Plan G. A video on high-deductible Plan G is in the works! In the mean time, feel free to read more about these types of plans here: boomerbenefits.com/medicare-supplemental-insurance/medicare-supplement-plans/high-deductible-plan-g/
I will be entering medicare in April of 2020.
If you turn 65 in April, your IEP will start January 1st.
Note: Birthday 07/21/55 so will be on medicare starting 07/01/20, I am trying to create a budget for next year, plan to purchased MedaGap plan “G” so what deductibles does it pay? Do I need to call to get this information? I am a male, zip 28561, go not smoke or use tobacco and am 64 yo.
Thanks
lgm
Plan G covers all Part A and Part B cost-sharing expenses except for the Part B deductible. In 2019, the Part B deductible is $185. To get quotes for Plan G, yes, you would have to call us as 855-732-9055.
So you didn’t mention Part “B” premium, surely Plan G doesn’t cover that???
Thanks so much
lgm
@@lawrencegmyers5306 This video focused on the deductibles of Medicare. No Medicare plan covers your Part B premium for you. The Part B premium in 2019 is $135.50/month. You can read more about costs here: boomerbenefits.com/new-to-medicare/medicare-cost/
My husband will be turning 65 on 2/1/2020. When should he apply for Medicare and supplemental insurance? He is currently in the individual insurance market.
If his actual birthday is on 2/1/2020, then he could have applied for Part A and Part B as early as October 1 2019. If he applies before January 1, his Part A and part B will start Jan 1 since his birthday is on the 1st of February.
Once he knows his Medicare ID number, that's when he can apply for is Medigap plan. He will have 6 months from his part B effective date to get a Medigap plan without underwriting.
My parents were in an auto accident and my father was in icu for a month, a specialty hospital for 20 days, and a rehab for 2 weeks. They only have the basic Medicare. They have paid the deductible that Medicare billed them. Now they received a bill for $30,000. Do they need to figure out how to pay this or not?
That $30,000 is likely the 20% of Part B for all their doctor services. Before paying it, they should call Medicare and verify what this charge included to make sure they don't overpay.
When I turned 65 in March, I signed up for Medicare Part A only. My employer has more than 20 employees and they told me that it is creditable coverage. I plan to retire in July 2020. How soon can I sign up for Part B? Thank you.
You can sign up for Part B at anytime while having employer coverage. However, you have 8 months from the day you lose employer coverage to enroll in Part B without penalty.
November 2019. Thanks for the great suggestion of delaying dr visits to Jan 2020 to avoid paying the deductible twice
You bet, Tom - hopefully we can save you from paying that $185 twice.
Birthday was in mid July, I was eligible for Medicare in April because of disability. Currently I am on my husbands commercial healthcare plan that has medical and prescriptions. I only joined part A back in April. When can I join Medicare part B and D in the future?
HI Susan, if your husband's employer has more than 100 employees, that coverage is primary. When he leaves that employer and you lose your coverage, you will have a special enrollment period to add Part B.
His employer has less than 100 but good coverage and it is good as Medicare I was told.
So much to learn...birth date is January...will be 65...will stay tuned for more information
We're happy to help! We also have a ton of free learning tools on our website, such as
boomerbenefits.com/webinars
boomerbenefits.com/learn-medicare
December
May
Hi Sue, your initial enrollment period will begin in February then.
I start in June 2020
If you turn 65 in June 2020, you're initial enrollment period begins March 1st 2020
I would like my Medicare part A and B to start January . When should I apply.
It all depends. When do you turn 65 years old?
I was just released from a week at a skilled nursing facility. I came there from a 18 day stay in hospital for surgery. Who do I pay the 1560.00 deductible to ? Do I wait for a bill for that amount to come ? I am confused as this is the first time using part a.... Thank you for any help
Yes, you should receive a bill from the facility. The amount you pay for your services will go towards the deductible!
January 2020 is when I cross the threshold.
December 13th.
HI there, if you turn 65 in December then you are already in your initial enrollment period for Medicare and can sign up anytime.
July 24 2021
I'm probably gonna sound extremely dumb but do you actually have to pay your "yearly" deductibles even if you don't receive medical services apart from preventative care?
No. Your deductible only applies as you use your insurance. If you never use your insurance for things other than preventive care that is 100% covered, then you wouldn't ever owe your deductible.
November
October
Your initial enrollment period will begin in July
I will enter soon, I turn 65 on July.
Great! You can always visit our channel, website for more information, or give us a call at 817-249-8600 if you ever have any questions.
Could you explain to me what that Medicare tax I paid on every paycheck that I made for the last 40 years, what was that applied to? I thought I was paying my premium up front. I think somewhere along the way I was scammed.
Whenever you pay payroll taxes for ten years (40 quarters) you will receive a premium-free Part A. The money that was deducted from your taxes has funded your Medicare Part A premium. If you did not pay any payroll taxes in the U.S., your Part A premium would be $471 per month in 2021. However, you will be responsible for the Part B premium regardless of your work history.
Check out our video, 2021 Medicare Costs
, to learn more!
I watched the video, but I am still confused about the part B deductible. I understand it as it applies to health care providers, but I do not understand it as it applies to DME, specifically diabetic supplies- lancets & test strips. I was charged 20% of the cost, but thought I should have paid for it all since this is my first Part B claim. I guess I’ll figure it out when I see the EOB!
Hi there - did you pick these up for the pharmacy? Sometimes they have trouble billing your Medigap plan. If they do not have your Medigap on file, go back to your pharmacy to have them bill and then they can submit for a refund.
Questions on Medigap plans
Hi there - what are your questions?
October 2 2021
Your Initial Enrollment Period begins July 1st and ends January 31st.
I used to think life gets easier as you get older....boy was I wrong
I start in February 2020
If you turn 65 in Feb 2020, then your IEP starts November 1st 2019
What is the monthly premium?
For Part B in 2020 it is $144.60/month. If you have a higher income, you may pay more.
I love the part where if I don't know what to do or if there is a problem, I just call Boomers and they handle it. They email me to make sure I'm up to date on things. It's like a huge weight lifted off of me. They got my back. Thanks Bill!
That's right - we provide free claims support for all of our policyholders and we love to help so that you are never alone in dealing with Medicare. We'll take great care of you - thanks for your business!
My month is March.
March 9
Hi Marcia, your initial enrollment period will begin in December then!
Can you link the medicare costs doc? I could not find it in your description...
Hi Kiki - Here is the link to our Medicare Costs PDF: boomerbenefits.com/get-your-medicare-cost-pdf/
@@BoomerBenefits TY very much.
@@kikimugi2717 You're welcome. :)
January
HI there, if you turn 65 in January then your initial enrollment period for Medicare starts October 1st.
AUGUST OF 2021
That's great! Your Medicare Initial Enrollment Period will begin on May 1, 2021 and end on November 30, 2021.
OK I am 64 in December 2019 and eligible for Meidcare in December 2020. Since I have taken early SS benefits at 62, I understand I will be automatically enrolled in Medicare A in the month of my 65th BD.Is that correct? I know I am not permitted to deposit into an HSA once enrolled in Medicare. However, if I stick with my wife's employer coverage for a while after enrollment in medicare, can I participate in her flex spending account without running afoul of IRS or Medicare rules since I am not actually using medicare in this scenario? Thanks
Yes, you will be auto enrolled in Part A and Part B. If you don't want Part B, you will need to fill out the form the SSA sends to you in your Medicare packet to let them know you will be delaying Part B. You can delay Part B without penalty if you have coverage through your wife's employer and the employer has 20+ employees. You can participate in an FSA regardless of your Medicare coverage.
June 2020
If your turn 65 in June 2020 your IEP started March 1, 2020 and ends September 30, 2020.
December 30, 2022. I'm getting as much information as I can before I reach retirement age.
If you turn 65 in 12/22, your IEP will start September 1st 2022 and end March 31st 2023
April 2022
My wife's 65th birthday is on 1/4/2020. So the initial sign up period begins 10/4/19?
That's correct, Glenn! Does she plan to enroll in both Parts A and B?
July
Your IEP will be from April 1st until October 31st. boomerbenefits.com/medicare-enrollment-calculator
June
If you turn 65 in June, your IEP will start in March and end in September.
May 2020
If you turn 65 in May 2020, your IEP starts February 1st 2020.
November 2021
Is getting a medicare supplement ,at 65, a must. Or do we wait for a full retirement age?
Hi Mark - A Medicare Supplement is 100% optional. However, if you are interested in a plan, you would want to make sure you apply for a Medigap plan during your 6-month Medigap Open Enrollment. This 6-month window is based around your Part B effective date. If you don't enroll in a plan during this time, you will go through medical underwriting in most states. If you cannot pass the health questions, you would either be denied a plan or will be charged a higher monthly premium. Check out our UA-cam video, Your One Time Medigap Open Enrollment Period
@@BoomerBenefits Does Full Retirement Age apply in a number way?
Your full retirement age has nothing to do with your Medicare eligibility. You become eligible for Medicare at age 65!
Thanks.
December 2021
June 15
February 2020
october 20
January 2020
Your initial enrollment period will begin in October then - just a few weeks away!
Should I get a additional cancer insurance
Hi Bonnie - Give our team a call at 817-249-8600 and we can discuss cancer insurance and the benefits of the plan! Feel free to also check out our UA-cam video, Why You Need a Cancer Plan with Medicare Advantage
By LAW your provider has up to ONE YEAR to even bill you, SURPRISE!
The more complex the plan the more you WILL BE SCREWED.
THE MORE IT WILL COST YOU.
crazy boy you didn’t lie about that! I don’t know why this is so complicated as you get older that the last thing anyone wants
I have an eye appointment tomorrow. The provider does not take medicare. The cost of the exam is $65. Can I send a copy of the paid bill to you to apply it to Part B deductible under my Medigap Plan G I have with you?
Medicare does not cover Eye Exams.. You have to have a separate plan for Eyes, Dental and Hearing...Yes, more insurance..
Hi Judith, Medigap plans can only pay their share of healthcare services if you treat with a Medicare provider and if Medicare approves the claim. Also, Medicare generally does not cover routine eye exams.
September 5th
1/1/2021
I will enter Medicare 7/1/20 Thanks
HI Lawrence, your initial enrollment period will begin on April 1st then and you can sign up for Medicare at that time.
How can I avail of the benefits offered by your agency? I have Medicare A&B , Plan D and Medigap F. Please send information by email. Thanks.
We help people enroll in Medigap, Medicare Advantage, and Part D plans. To become a client of ours, you would need to enroll in a Medigap plan through our agency.
12/31/2019 retirement starts
Exciting! If your birthday is in December, then your initial enrollment period began on September 1st.
My birthday is July 2...... I may retire Dec 31 of this year
March 2020
Then your IEP starts December 1st 2019 and ends June 30, 2020.
12/1/2019
HI Michael - that means you are already in your initial enrollment period and can apply for Medicare now.
I signed up for part A in March of this year. I will continue to work until the last day of November 2020. I will be contacting you at some point to get all the information and help. Thanks
February 2020 my wife will turn 65
Then her IEP starts November 1st 2019
I’ll be 70 in August and I’m retiring in August
I will hit 65 April 2021
Hi there - thanks for watching! Your initial enrollment period will begin on January 1st of that year then.
01/01/2020
If you turn 65 in January 2020, you're initial enrollment period begins October 1st, 2019
I turn 65 on 7-19-20
Then your IEP starts April 1st.
Help
Hi, how can we help you?
I will be 65 on Sept 15 2020
Dec