Medicare Part B | Costs, Coverage and How to Enroll in Medicare Part B
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- Опубліковано 3 лип 2024
- www.abtinsuranceagency.com | (888) 465-9728 | email stephanie@abtinsuranceagency.com | Call us for free, unbiased Medicare assistance. Medicare Part B is a very important Part of Medicare, and in today's video I'm reviewing all of the basics you need to know about Medicare Part B. Medicare Part B enrollment can be tricky - you want to be sure you are enrolling at the right time in order to avoid penalties.
Should you enroll in Medicare Part B if you're still working? : • Do you REALLY need Med...
How to Apply For Part B Online When You're Turning 65: • Medicare Sign Up | How...
Retiring/Leaving Employer Coverage? To enroll in Part B you'll need to EITHER -
1. Submit these forms to Social Security.m : www.cms.gov/Medicare/CMS-Form... and www.cms.gov/Medicare/CMS-Form...
OR
2. Apply for Part B online with a Special Enrollment Period reason: www.ssa.gov/medicare-partb-sep
When Is Your Medicare Supplement Open Enrollment?: • Medicare Supplement Op...
I wish I found your videos a few months ago when I was struggling to figure things out. These video's are so helpful!
This is so helpful. I never knew medicare was so complicated. Your videos shine a spotlight on the penalties and that is a lot of help. Thank you!
Thank you !!!! Just what I needed. God bless!
Very good information, I appreciate your time it clarifies a lot of things I have been reading and didn't quite understand. Thank you so much.
Thank you. Very informative and easy to understand.
thank you for these videos, you are a life saver!
OMG this is such a great video!!!!!! Thank you!
Thank you for the very useful information! 🌺
Thank you for your videos! Great insight & learned a lot about medicare I will soon be a retiree advocate in a few weeks! 😊God Bless!
Excellent video. Thank you.
Thank you so much, you are so good🙏
Thank you so very much!!
Excellent Information
Thank you so much for this information. I've been so confused by everything that been coming through the mail to me.
Thank you Stephanie. You helped guide me through the mud. I'm going to re-view your videos again but you initially answered all my questions. I may have more questions later but for now you have put me at ease.
🙂
Do you have to pay the first quarterly all at one time? Can you pay month to month premium if it's like 148.00 each month and if how do you set it to make payments?
I just can't say enough good things about your videos. I'll be calling you when I get my medigap coverage.
FIVE_O_FEVER thank you so much. Looking forward to hearing from you!
Thanks for this information. Very helpful.
You are welcome!
Very helpful information and excellent communication skills. I'll watch all other videos as soon as possible.
I also subscribed.
Great video, thanks so much !!
Yes you are amazing!!
Leave your Medicare Part B questions below!
How much is the penalty and is it the same percentage each year?
@@Kayte... it’s 10% of the part B premium for every 12 months you were uninsured without creditable coverage.
Great video/advice
Thank you for the info, it is really helpful for someone like me who has no idea what medicare is about.
Thanks for watching! Be sure to checkout all of our other Medicare videos too :-)
It sure can be confusing. Thanks for the guidance.
You're right, definitely confusing. Thank you for watching!
I have met seniors who could not enroll because their soc sec was not high enough to pay for Medicare part b. In the last 3 years there have been increases in soc sec and that has made it possible for some seniors to enroll. However rents have gone up and it seems cruel to impose penalties for delayed enrollment.when you look at how much money is being given to Ukraine the message is that seniors in the us are trash.
It pays to have someone on my side that knows what all the options are!
Thanks for watching and commenting Gary :-)
thank you
You're welcome!
Thanks taking the time to share this information.
George thank you for watching!
this is just a huge information for part b?! ..as an aetna rep for member services...this are the questions sometimes...it adda up to my explanation?! thanks a lot! you guys are such a blessing for me! appreciate all your videos!!! it helps me towards my goal of becoming an expert to the field!! more power!!
Thank you!
Hey Tony, Hope you are doing good. Since you are working at Aetna, we might be able to work together as we specialize in routing dedicated prospects, Leads Generation with a high conversion ratio and bringing more business towards agencies. Kindly reply to this with either your contact info , incase you are interested in discussing more.
Fantastic video, Can you please post video regarding QMB when and how to enroll in both part. How to select plan. I am 68. I had both parts and medicaid . I canceled as I was out of country. Now how I start?
I tried to find a video that addressed this example but may have missed it. I retired from the USPS last Dec and turned 65 this past April. I have continued the FEHB family plan as an annuitant. My wife's work insurance is lousy. We also have a 24 yr old son. My question is, why do I have to pay into Medicare Part B? If I understand it correctly, if we went onto my wife's plan instead of mine, or if I was still working under my same plan, I wouldn't have to pay for Part B. I know it's the government, but what could be their thought process? p.s. your videos are wonderful!
You cannot sign up for a supplemental plan, like a part G, until you are approved for part B. I thought I could do this all the same week. As it turns out, social security is so bogged down, that my part B on line application is delayed.... weeks. My employer supplied insurance will end Jan. 1 and I will be un-insured.
SO, do if you have delayed part B, start the application process waaayyyyy before you need it.
My wife was self-employed (weekly newspaper) from age 65-69. She had Part A but not Part B. She was getting Social Security, though. She was also covered under my employer's healthcare insurance until I had to take a medical leave in 2020. Is she still eligible for Part B without a penalty?
Is there a new cost breakdown for 2021? To know how much Part B will cost per income?
My part B was suspended last September 19/20 due to non payment of my premium when I first newly enrolled April 2020. I finally got Part B June 2021 after paying the penalty but was told to enroll for Medicare supplement on October and will then be effective January the following year. I’m not sure what I should do next. B.G.
Will a small inheritance affect the IRMA? I know the inheritance is not taxable, but, will it be considered in the adjusted gross income?
What I don't see is: Surgical Procedures / Operating Room / Anesthesiologist / Pathology / Lab costs. This is my only concern about Medicare. Are these covered or do I need a supplement ? Government language on coverage is vague to me.
My husband turned 65 may 30 he is working still full time with health coverage with high deductible and out of pocket over 9000 to be more exact. He did not enroll in madicare part A until today sept 14,2021. He was hospitalized end of June for 6 day for gall bladder surgery and complications.
He wants to why when he signed up today it only mentioned part B enrollment and nothing about A.
Is he automatic enrolled and how would he know and he also wants to know if he didn’t ask on enrollment that only listed part B for retro coverage to help with amounting bills how can he get that 6 month retrocoverage in the state of Texas.
He plans on working till 70 and only wants to use medical part of gov benifits at this time.
...They already sent a Medicare A & B card and it's still 4 months away from my birthday....
Your videos have been a Godsend for me. Question: I have been retired just over a year. My wife was covered under my retiree coverage. I just got a notice last month that she will be removed from my coverage because they were notified she is on SS disability. She has been on Medicare but we removed the part B portion years ago because of my employer coverage. Now we have to reinstate her part B. Does this count as a special enrollment period we could take advantage of without penalty?
In order for her to delay Part B without penalty, she must be covered under an "active" employer group plan - generally COBRA and retiree plans don't count. I would recommend contacting Medicare (1-800-MEDICARE) or Social Security directly to see if she will face penalties upon reinstating Part B. I hope this helps!
Hi I’m trying to help my uncle, he had a full time job up until he was 66 and than he got laid off in April. They gave him a cobra deal where he will be reimbursed for all insurance he pays towards cobra. But it ends in the new year, he needs to sign up for part B and he got letters in the mail it has to be done before dec 7th but everything I’m reading is January - March. He also has cancer and there is a pill that costs 15,000 so we are looking to get a smooth transition. Do you know what we should do
Will medicaid pay your medicare preminms
I will start working on November 2 2021 they offer medical coverage but I don’t want because will take a chunk of my paycheck. Can I still apply for Medicare Plan B? Thanks
Great video. However, you use the acronym "irmaa" without defining it. I paused and googled it and it stands for income-related medicare adjusted amount. If you ever re-do this video, I would connect those dots. (Define what irmaa is the first time you use it, even if you have already said the phrase "income-related medicare adjusted amounts." People (including myself) get thrown off when they hear an acronym, especially when it sounds like a word. (If you had said i r m a a) you would still have to explain it, but at least it's identifiable as an acronym. People who are new to this subject may not have heard of irmaa before.
Thanks for the feedback - Medicare has so many acronyms and they should always be explained!
Is it possible for people who did not work and paid any SS or Medicare to have Medicare card? I always thought only people who work have Medicare card and the indigent only have Medicaid.
Stephanie, your video is so informative, thank you. I do have a question. I am currently employed and on a group plan. I won't retires for another year and a half. I turn 65 in March. I signed up for Part A but did not take Part B since I'm staying on my group plan. Now I've been told that since we have less than 20 employees, I still need to sign up for Part B. Do I just do the process you speak of in you video? Will there be any additional paperwork needed to complete the process or is it just a matter of signing up?
Karen, If you have already enrolled in Part A then I would recommend contacting social security directly to enroll in Part B. You can call them at 1-800-772-1213 or fill out the form CMS 40B.
Does the total gross household income (for calculating monthly cost) include pensions, annuities and investments? Is it just Social Security earnings only?
They base IRMAA charges on adjusted gross household income.
If you go with a medicare advantage plan (since the dental coverage is minimal) can you also enroll in a separate dental plan?
Yes, you can!
Hi, great information. I received the medicare card, the part A start on my dob, 03/09/2020, but the part B will be start at July 2021. Would you please explain more. Thank you.
That sounds off. Part A and B effective dates are the 1st of the month, so having a 9th of the month effective date wouldn't be right. Also, there would be no reason to have a July 2021 effective date for Part B if you turned 65 and enrolled in Medicare A and B this year. I'd be happy to help you sort it out - you can give us a call at 888-465-9728. The folks at social security should be able to help too (800-772-1213).
I need a lot of prescriptions. What program covers that?
A Part D plan, or Medicare Advantage with Part D coverage.
Is there any way to get it part b for cheaper..
Medicare Part B is optional right? i mean is not mandatory?
Thanks you for the video. I have friend living in Columbia and need to return to the States for treatment. He is a retired US Citizen and ask if he can use our address to apply for Plan B. Do you think this is a good idea and allowed? Appreciate the help
How do you setup payment for Part B?
What does Part B not cover? I’m always surprised when I hear that Medicare does NOT pay for a yearly physical. Is there a game you have to play to get around this?
Thanks!
You can learn more about how to set up Part B Payments here -- ua-cam.com/video/U2oRK9lQ7PA/v-deo.html, and we have more information on how NOT to get billed for an annual physical on Medicare, here -- ua-cam.com/video/LgBsTrEXZKs/v-deo.html . Thank you so much for watching!
I would like to speak with you about the SEP application process and get a quote for an advantage plan.
Call my office! 888-465-9728 😊
Love your videos. Question - You note 8 mos. window from losing group insurance (in my case, covered by husband's employee plan; I do have Part A) to obtain Medicare B. Wouldn't that then leave a potentially huge gap of time with no medical insurance? And Part D only two mos. window? How does one ensure no disruption of medical coverage and get supplemental insurance , as well? I am a bit confused about this. Thanks for you input.
The 8 month window is for Part B enrollment after loss of employer coverage before any penalties kick in. However you would want to enroll in Part B/Part D/Medicare Supplement insurance prior to losing your employer group coverage in order to avoid any gaps in coverage.
@@AbtInsuranceAgency Thanks for your response; that's what I thought, but, wanted to verify. Much appreciated! Have a lovely Easter weekend.
plan on Soc Sec to take over 2 months to process your part B application. Then and only then will any insurance company sell you a supplemental plan like G. You can buy a part D drug plan tho....
Thanks for the video. I do have one question about part B online application form section B, which asks for employer's name and address. I had my insurance coverage under my wife's employer medical benefit before she retired. Can you confirm whether the employer's information should be from me or from my wife? One specialist told me I should enter my wife's employer name, but the form help page says it asks for the applicant's employer information.
Yes, you should enter your spouse’s employer name if your coverage was through her company. I hope this helps!
I am retired and currently on my spouse's health insurance plan for coverage. I turn 65 in September 2021. During the IEP if I decide to sign up for both parts A & B do I have to pay the $144.60 monthly premium for part B if I continue to stay under my spouse's health insurance coverage?
Yes, if you sign up for Part B you will have to pay the premium regardless of whether you have other coverage. In 2021 the Part B premium is $148.50/month. Also, you may want to delay Part B if you plan on keeping your spouse's employer plan...please call us directly and we'd be happy to provide more information! (888) 465-9728
Are supplement plan costs different in each state.
Daniel Hernandez yes they are. Costs vary based on several factors, including location - ua-cam.com/video/xvRe_hlGXe4/v-deo.html
Hi Stephanie, I just enrolled medicare benefits online; however, the application doesn't specifically says if I'm applying for part A or Part B. Somewhere down in the application it does have a question, "Want to enroll in medicare part B?"
But I was under the impression that I am suppose to fill in two application one for Part A and one for Part B.
Or is it one application for both part A&B during initial enrollment?
It is one enrollment online, not two separate applications. I hope this helps!
"forward slash" Medicare
Cannot find or lost my Medicare card. Just turned 65. Plus how do I obtain CMS-40B and CMS-L564 forms . Thank you
The two forms are linked in this video description below. You can also call Medicare to request a new Medicare card at 1-800-633-4227. I hope this helps!
What happens when a single lower middle class woman can't afford Medicare b but the government decides she isn't eligible for assistance or compassion?
Hi, Can I use my HSA account to pay for Medicare part B?
How about to pay for a Supplement like Aetna?
Thanks!
You can use HSA dollars to pay Part B premiums, yes, but not Medigap premiums.
If you sign up 3 months prior to your 65th birthday, when will charges start?
Daniel Hernandez during your birth month.
I have never worked but I am covered under my husband’s employer’s health insurance. When should I apply for Part A and Part B?
That can depend on several factors. You may want to apply for Medicare when you are first eligible, or you could delay it if your husband is actively employed. Please give us a call at 888-465-9728 and we would be happy to review your situation!
I made the mistake of inquiring about Medicare on an advertisement and had my phone get blown up by telemarketing people.
I’ve just found your site and am so relieved
I am 65 and still working I turn 66 in September, my full retirement age is 66 in 2 months
I plan on having my social security started then but to continue to work for 1 additional year while drawing social security
I still have my employers insurance plan
But intend to drop it in September for Medicare part B
Can I get a Medicare supplement plan from you that I can schedule to start at the same time?
Absolutely! Give us a call at (888)465-9728. We would be happy to assist. 😊
I’m retired but I received medical insurance coverage from my former employer. Do I still need to apply for Medicare coverage Part A & B?
Typically yes you do.
I believe that you misspoke in describing a persons out of pocket expense. You said that someone would be responsible for 20% of the total medical charges. But Medicare has approval rates that they use and you would only be responsible for 20% of the APPROVED charges. This makes a big difference. Also, while it is true that there is no cap on these charges, I think that most people would never have to worry about that. In all the time I have had insurance I have only met my deductible twice and never hit the out of pocket maximum.
What if my husband gets his insurance through my work. I will be working for about 8 more years and he is covered under my insurance. Can he stay on mine and then apply when I retire?
Yes! As long as you are actively employed and he’s covered under your employer plan he can delay Part B until you retire.
I got my Social Security benefit at the age of 62. But Bever applied for Madicare at the age of 65. Now I am 70 years old and will be 71 soon. I would like to know... 1) If I have to pay a penalty for not getting Medicare insurance at 65! And if so, how much will it be? . 2) What will be the best time to apply for Madicare Insurance?
If you are collecting social security prior to age 65 then you are automatically enrolled in Parts A and B at age 65. Did you decline Part B at that time?
Thanks for the great informative video. I will try to call you or email you in few daya
I have Medicare Part A since Oct 2015. Did not get Part B because spouse had health insurance. He just got laid off & I need Part B & C. Our health insurance ends 3/20. General Enrollment ends 3/31 but Special Enrollment due to job loss also seems to apply. Will I have a 60% penalty? Is there insurance for the gap between coverage that I need to get?
You will have a Special Enrollment Period for up to 8 months after the loss of employer coverage. You will not have a penalty, but you will need to fill out certain forms, or provide proof of your prior creditable coverage. This Video explains more: ua-cam.com/video/Tc5_VmzBXME/v-deo.html
How do you qualify for Medicare? Can just any unemployed person from this co-vid 2020 time we are in apply? or is there an age restriction?
Medicare is for people age 65 and older, and some people under age 65 with certain medical conditions.
I am a retired veteran, and will be turning 65 in December. I don’t use medical coverage from my civilian employer (federal government )How do I apply for Medicare part B?
You can apply on ssa.gov/Medicare ! And call us anytime for help -- 888-465-9728
What about if you retired from your job at age 65 and your husband adds you to his insurance? Is that possible .. Thx in advance
If your husband is actively employed, you can get on his employer sponsored insurance and delay Part B without penalty. You would want to be sure to compare the costs of joining his employer plan with the costs of going on to Medicare. I hope this helps!
Stephanie, my wife turned 65 four years ago, at that time she elected part A only, how does she sign up for part B at this time. She is on social security and I realize there is a penalty, but can't figure out how to sign up. We do have a primary insurance BCBSF but also want part B.
Is your BCBS insurance an employer plan? If one of you is still actively working and you are covered under an employer plan, then you can use a Part S Special Enrollment Period to enroll in Part B. This video explains more - ua-cam.com/video/Tc5_VmzBXME/v-deo.html
If not, then she has to wait until the Part B general election period to enroll, Jan 1st - March 31st each year, by contacting social security.
@@AbtInsuranceAgency She will have to wait. Thank you
I am a veteran receiving VA medical benefits, my full retirement age is 66.5.. do I still have to enroll in part b at 65 or can I wait to 66.5 because my VA medical is credible?
You can Delay Part B, but you may or may not want to. If you delay Part B at age 65 and then decide to enroll in Part B at a later date (to use non-VA providers), then you may be subject to the Part B late enrollment penalty.
If I enrolled in Part A only successfully within my initial enrollment period intending to work another year past 65 and now changed plans to leave my employer earlier but still within my 7 month initial enrollment period, can I bypass the special forms CMS 40B & CMS L564? How?
If you are still in your 7 month initial enrollment period then you can apply over the phone for Part B only (1-800-772-1213) or fill out form CMS 40 B (only) to submit to social security.
@@AbtInsuranceAgency Awesome, thanks for the quick response!
Can you waive Medicare part B. I don’t use doctors that accept Medicare. I don’t use any treatments that are Medicare approved. Total waste of money.
Recently discovered that part B will cost me 442/month. I filed taxes for 2021 with an AGI of 143686. I guess that makes me rich. Most confusing part is that the increased premiums will not start for another 2 years. I dont understand the delay?
Medicare bases your “IRMAA” on taxes filed from two years prior. You can also appeal IRMAA if you have had a life change or change in income since then.
@@AbtInsuranceAgency thanks for your reply
Is that adjusted gross income?
Yes, agi is used to determine Part B premiums.
Why do I have to pay part B while living overseas? I need that money to pay medical bills.
You can cancel Part B if you want to. But if you want to re-enroll again the future you will face penalties.
im turning 65 this year and my Question is can apply for Part A and B even i have still health insurance from my Wife? i would like to Start part B as soon as i start take my pension this year after my birthday at 65/ so i will have Part B and health insurance from wife? is that okay?
I would recommend reaching out to us so we can review the details of your situation. In most cases it’s ok to have Part B and health insurance through your spouse, but it may not be your best value financially and could leave you with more limited options down the road. Call 888-465-9728 or email stephanie@abtinsuranceagency.com.
Our health benefits will end this first week of July 2022 . We both have part A and have delayed part B participation.....would we incur any penalty to apply for part B before July as it seems we state on the forms the beginning date of our part B coverage, which in our case is July 1. Or is it best to apply after that July date.....I was concerned about the latter in regards to any lapse in coverage ....thx .
If you will be losing coverage on 7/1 then you should apply for Medicare now (up to 3 months prior) and request a July 1st start date. I hope this helps! This video explains more : ua-cam.com/video/Tc5_VmzBXME/v-deo.html
@@AbtInsuranceAgency thank you again. Have really learned quite a bit from ur presentations. Sure wish you were licensed here in Wi. I was led to believe that I have to wait 60 days in advance to apply for part b even if I stipulate July 1. Honestly I trust your assessment above all others 😁
@@mediumdun18 you’ll see on page one of this document that you can elect your Part B special enrollment period effective date to be the first day of any of the 3 months following the date of your enrollment 🙂 : www.ssa.gov/pubs/EN-05-10012.pdf
Hi can you help me to
Enroll in Medicare part B
Yes! Please call us at 888-465-9728
It's a racket, Medicare was charging me $433.80 a month. I couldn't afford it.
If you pay that much for Medicare, you can afford it.
Medicare is socialized medicine for the elderly. My Part B premiums are only $578, without the government subsidy they would be much higher.
Your payments are very high, and what subsidies are you talking about?
@@SandfordSmythe My payments are based upon my income. The premiums for all of us would be much higher if Medicare was not socialized medical care.
@@tomblevins5020 Everyone seems to have their own definition of "socialism", for whatever political purpose. Many people would define Medicare as "Social Insurance" under a "social democracy" form of government. I don't see the benefit of painting many different approaches with the broad brush of "Socialism".
@@SandfordSmythe In this case it fits the definition. Socialism is not a bad word. It describes the health care bureaucracy we have created to give the elderly a handout. A handout that is being paid for by young Americans. My premiums are only $578 a month. This is way below the private market rate.
@@tomblevins5020 The Medicare B premiums cover the relatively inexpensive out-patient care.
.
Wy you do not say anything about part D. Plan G doesn't pay for medicines.....prescriptions I'm not pleased. I was shocked.
Yes, many people are surprised to find out that Medigap Plans like Plan G do not cover prescription drugs. If you would like to speak to a licensed agent who can help you go over plan options (and thoroughly explain what is and is not covered) please call us anytime at 888-465-9728. 🙂
Hello. I am still working and I have group medical coverage. My employer has way over 20 employees. My wife is covered under this coverage, but she is turning 65 in June. Does she have to enroll in medicare B as long as she is covered under my policy?
No, she can delay Part B without penalty. This video explains more: ua-cam.com/video/UlgLlvfmD6c/v-deo.html
Thank you!
ya Part B is a very important SCAM cash cow for the underwriters. lol.