Thursday, October 21, 2021

Here's What You Need to Know About Medicare 2022

Know Your Medicare 2022 Benefits

Knowing about  your Medicare 2022 benefits is deeply important. You paid into it during your work life and you deserve all the benefits you have coming. You have come to the right place for all the information you need. 

Medicare has Four Parts
Part A is inpatient hospital insurance. It also covers skilled nursing facility stays, home health care, and hospice care.

Part B is medical insurance, covering doctors' services, diagnostic tests, durable medical equipment, and outpatient hospital services. 

Part C covers Medicare Advantage Plans, and Part D covers prescription drug plans. 

Part A, which is free for most Americans, and Part B, which charges a monthly premium of $158.50 for most people, provides the foundation of health insurance for Americans 65 and over.

But here's more. Medicare Part A has large deductibles (for example, $1,556 for a hospital stay of 60 days or less). Medicare Part B has no cap on out-of-pocket costs after Medicare pays 80 percent of approved expenses. 

Once the annual amount of $217 Part B deductible is met, as an example, Medicare will pay 80 percent of  your bill and you will have to pay 20% of whatever amount remains with no limits. The $217 is the 2022 deductible up from 2021. All deductibles, premium, and co-insurance amounts above are for Part A and Part B effective January 1, 2022. 

Medicare Additional Coverage
The limitations of Parts A and B prompts an estimated 39 percent of people on Medicare to enroll in a Medicare Advantage Plan. Medicare Advantage plans, Part C, are offered by private companies approved by Medicare, Besides services included in Medicare Parts A and B, they usually offer additional coverage, including vision and dental, health club membership, and both prescription drugs and transportation. 

Go to Medicare Advantage Plans And see what plans are available to you and take advantage of the benefits you have coming.

If you have additional questions call (773) 614-3201 or email me at