The Part B deductible is $203 for 2018.
The Part B deductible will change every year as Medicare and the federal government make changes to the cost of healthcare in the United States.
Most Part B plans cover 80 percent of the cost of inpatient and outpatient medical services. However, some plans have a higher deductible, which is the amount that the insurance company must pay before they pay anything.
In 2018, the Part B deductible is $203 for hospital services, and $183 for most other medical services.
The Part B deductible can be waived if a person qualifies for a Special Needs Plan (SNP).
SNPs are plans that help people pay for healthcare costs associated with a chronic illness, disability, or end-stage renal disease.
SNPs may also cover costs for a person with a condition such as diabetes.
A special needs plan is different from a Special Needs Plan (SNP) or Special Needs Trust (SNT). A Special Needs Trust is a type of asset protection trust that allows a person to use the funds from their insurance plan to pay for long-term care.
Medicare and Medicaid plans
Medicare and Medicaid are health insurance programs that cover people with low to moderate income.
Medicare is health insurance that is administered by the Social Security Administration (SSA). Medicaid is health insurance that is administered by the states and is funded by federal and state tax money. Medicare and Medicaid are often referred to as “original Medicare” or just “Medicare.”
Most Americans who are 65 or older get their healthcare through Medicare.
People can also get Medicare if they have a disability or an end-stage renal disease (ESRD).
After a person turns 65 years old, they can get Medicare if they have a disability or an ESRD.
Medicare can help cover the cost of healthcare, including:
- Doctor’s services
- Hospital services
- Hospice care
- Some medications
- Some inpatient rehabilitation services
- Some mental health services
In addition, Medicare can help cover some of the cost of long-term care.
However, Medicare does not cover:
- Dental services
- Some prescription drugs
- Some long-term care services
Medicaid is a healthcare program funded by state and federal governments. It is designed to help people who do not have access to private health insurance.
Some examples of Medicaid services are:
- Long-term medical and nursing home care
- Home care
- Some hospice care
The federal government pays 80 percent of the cost of Medicaid services. The remaining Part A deductible is $0 for 2018.
How much does Medicare Part A cost for a person who is 65 years old?
Medicare Part A costs $1,484 per month in 2018.
This amount includes:
- The premium of $144.50 per month for people who are 65 years old or older
- Part A deductible of $1,484
- Part B deductible of $203 per year
A person can change their coverage when they turn 65 years old. However, they do not have to pay a deductible each month.
The cost of Medicare Part B for a person who is 65 years old in 2018 was $198.50 for hospital services, and $183 for most other medical services.
What is a Medicare Supplement (Medigap) plan?
Medigap plans are plans that cover the cost of some of the costs that original Medicare doesn’t cover.
Medigap plans cover:
Medicare Part A coinsurance and 20 percent of Medicare Part B cost-share
Medicare Part B coinsurance and 20 percent of Medicare Part D cost-share
Medicare Part D coinsurance and 20 percent of Medicare Part A cost-share
The amount that a person pays for a Medigap policy depends upon the plan that they choose.
Some examples of Medigap plans are:
- Medigap Policy A
- Medigap Policy B
- Medigap Policy C
Most Medigap plans cover the same costs that original Medicare does.
However, some Medigap plans have a lower out-of-pocket maximum than original Medicare.
How much does Medicare Part C cost for a person who is 65 years old?
Medicare Part C is healthcare coverage that people can get after they turn 65 years old.
Medicare Part C costs more than original Medicare. The cost is $471.50 per month in 2018, and $471 per month in 2019.
Medicare Part C is known as “Medicare Advantage.” Most Medicare Advantage plans cover the same costs as original Medicare.
However, some Medicare Advantage plans include extra coverage that original Medicare does not.
Some examples of Medicare Advantage plans are:
- Medicare Advantage Plan G
- Medicare Advantage Plan N
Most Medicare Advantage plans also include prescription drug coverage.
The cost of Medicare Part D for a person who is 65 years old in 2018 was $148.50 for brand-name drugs and $7.50 for generic drugs.
How much do Medicare Part D costs for a person who is 65 years old in 2019?
Medicare Part D costs $148.50 for brand-name drugs and $7.50 for generic drugs for a person who is 65 years old in 2019.
The cost of Part B is lower for a person who is 65 years old in 2019 than it was in 2018.
The cost of Part B for a person who is 65 years old in 2018 was $198.50 per month.
Some examples of Medicare Advantage plans include:
- Medicare Advantage Plan K
Which parts of Medicare can people get without a Medicare card?
People can get Medicare without a Medicare card if they and their doctors agree that they do not need the coverage.
For example, a person can get Part A without a Medicare card. However, they need a Medicare card to get Part B.
If a person is enrolled in Medicare Part A and they are no longer eligible for Medicare, they can choose to delay enrolling in Part A.
However, they do not have to enroll in Part A if they do not want to.
People can also choose to delay enrolling in Part A if they have not had a heart attack or stroke in the past year, or if they have diabetes.
What’s the takeaway?
(Read “Medicare cost” to learn more about the Medicare programs and costs.)
According to the AARP, Medicare Part A costs $1,484 in 2018 for a person who is 65 years old.
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