What You Should Know About Medicare Part B

[MULTIZ321]

What You Should Know About Medicare Part B.

What You Should Know About Medicare Part B

Learn all about Medicare Part B, also known as the Medical Insurance program, which helps cover the costs of medical services.

www.verywellhealth.com

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Richard

 

[simpsontruckdriver]

Here is my post about 2021 (current) Medicare, including Part-B

TS

 

[jackio]

thank you for the post. I have just asked if DH has to sign up for part B at age 65. It looks like he will automatically get it unless he opts out.

 

[Laurie]

thank you for the post. I have just asked if DH has to sign up for part B at age 65. It looks like he will automatically get it unless he opts out.

He does have to choose and sign up for a Supplement plan if he wants one, to cover the other 20%, since Part B covers 80%. He would be automatically accepted in the plan of his choosing if he signs up right at age 65. If he waits, then he would have to qualify and can be refused. At least, that's what I recall.

Also he has to choose and sign up for a Part D, an Rx plan.

 

[bogey21]

The good news is once you have Medicare Parts A and B, a Supplement and a Prescription Drug Plan things run smoothly. But understand that Medicare is no free lunch. There are premiums for Part B, your Supplement and your Prescription Drug Plan. Mine including the IRMMA high income penalty cost me about $5,000 annually. If cost is a major consideration and you are healthy, I'd consider a Medicare Advantage Plan which is less flexible but also way less expensive...

George

 

[Talent312]

You can use Medicare.gov to help select a drug + supplement plan.
Input your medications and they show you drug companies + premiums.

Medicare's handbook compares standard supplement plans.
Your state insurance office may list the companies & their premiums
I asked my doc's insurance clerk which ones she preferred to work with.
That led me to select United HealthCare from AARP.
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[Luanne]

I know you can find out the answer to all of your questions on the Medicare site, but as I remember when dh turned 65 he automatically got Part A. He didn't sign up for Part B as he was still covered under my health insurance. When I retired he then had to sign up for Part B. I turned 65 after I had stopped working and I'm pretty sure that I did need to sign up for Part B, it wasn't automatic. We both have Supplemental plans as well.

The advice I was given from several people was, if you are going to get a Supplemental plan go with the company that charges you the least.

 

[jackio]

Thanks. He currently has his primary insurance through federal retiree BC/BS. When he becomes Medicare eligible, that coverage will revert to secondary, and they will refund him part of his part B premium.
I don't think he will need a part D, as I think the Federal policy will cover his drugs. But he will call to find out.

 

[Conan]

Medicare 2022 rates, including all the IRMAA penalties, are here:

2022 Medicare Parts A & B Premiums and Deductibles/2022 Medicare Part D Income-Related Monthly Adjustment Amounts | CMS

On November 12, 2021, the Centers for Medicare & Medicaid Services (CMS) released the 2022 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2022 Medicare Part D income-related monthly adjustment amounts. Medicare Part B Premium and Deductible

www.cms.gov

 

[pedro47]

2022 Medicare Premium are increasing by $10.00 per year.

 

[Bucky]

2022 Medicare Premium are increasing by $10.00 per year.

Medicare Part B is increasing by 21.60 per month. But, since we are suppose to receive a 5.9% COLA increase it is more than offset.

 

[bogey21]

Medicare Part B is increasing by 21.60 per month. But, since we are suppose to receive a 5.9% COLA increase it is more than offset.

When I retired about 20 years ago my Social Security was about $1,500 per month. Today despite numerous COLA increases it is about the same. Increases in deductions from my Social Security for Medicare Parts B and D and IRMMA have eaten up all my Social Security COLA increases...

George

 

[MdRef]

Medicare Part B is increasing by 21.60 per month. But, since we are suppose to receive a 5.9% COLA increase it is more than offset.

The new Part B premium will be $170.10 a month for 2022, a jump of $21.60 and the most considerable increase ever. The 2021 Medicare Trustees report published in August had projected a much smaller increase of $10 from the current $148.50.

Aduhelm, the Alzheimer's medication causing the hike, is priced at $56,000 per year - but a nonprofit think tank pegged Aduhelm's actual value between $3,000 and $8,400 per year based on its unproven benefits, AP said.

The Food and Drug Administration (FDA) approved the drug in an accelerated manner this June, bypassing an independent panel of outside experts, according to CNBC.