Is Original Medicare Enough?

In a word, NO. Not for most folks.

Original Medicare is great, but if all you have is original Medicare you have a Part A (hospital insurance) deductible of $1632 PER STAY in 2024, plus $408 per day for days 61 to 90 in the hospital. This is for each benefit period too! Past day 90 it is $816 per day until your 60 lifetime reserve days are gone. Then you pay 100% of all cost. That can add up to a tremendous amount of money YOU are responsible for.

For Part B (medical insurance) expenses you have an additional $240 annual deductible with original Medicare. Most Part B medically necessary services are covered at 80% while Part B preventative services are generally covered at 100%. Medicare Part B has very limited drug benefits. Even more to be concerned about.

Medicare Part Premiums are $174.70 for most Medicare Beneficiaries in 2023. Some higher income people will pay more due to IRMAA (Income Related Monthly Adjusted Amount)

Original Medicare does not cover Part D (most outpatient drugs).

Medicare Part A enrollment is automatic for most people but many need to apply for Medicare Part B. You can call Social Security, 1-800-772-1213, to apply or use the link below to self enroll.

(source medicare.gov)

There are a variety of cost effective ways to protect yourself from these type of expenses. I am a highly trained, experienced, independent agent. An independent agent is the best way to examine your Medicare insurance options and help you decide which plan works for you. Remember only an independent agent works for you and not an insurance company. Best of all my extensive expertise comes at no cost to you. The Medicare Open Enrollment runs from October 15th to December 7th annually.

Effective October 1, 2022 all insurance agents who sell MAPD and/or PDP plans are required to display this disclaimer on their websites. "We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options."

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