How Much Will Medicare Cost in 2020

Within the Social Security an Medicare Trustees’ report that was recently released were many telltale hints regarding how much will Medicare cost in 2020. For one, Medicare Part A hospital insurance trust fund is projected to be depleted in just six years unless Congress addresses the hot button issue. The Medicare Part A shocker was something that pretty much stole all of the headlines regarding the release, though this report also exposed that the basic Medicare Part B premium, which assists seniors in paying for doctors’ fees and outpatient services, is...

Is Ambulance Transportation Covered in M...

Original Medicare consists of Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). Medicare Part B covers ambulance services in emergency situations and covers non-emergency services in limited situations. People need to understand what is and isn’t covered and how much they have to pay to secure ambulance services. Emergency Services Those who need emergency services are covered under Medicare Part B. Four criteria must be met for the coverage to kick in. The ambulance must be medically necessary. That means it is the only safe way to transport...

Just Turned 65 What You Need to Know Abo...

When people turn 65, they are eligible for Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance). The federal government does not formally notify people when they are eligible for Medicare coverage, and failure to enroll at the correct time can lead to penalties and high out-of-pocket costs. Thus, it is important to know when and how to enroll. Do I Automatically Get Medicare When I Turn 65? Some people automatically get Medicare Part A and Part B upon turning 65. Americans do not need to sign up for Medicare Part A and Part B if they have received...

Medicare Plan F is Going Away – What You...

One in four Medicare recipients is underinsured, according to The Commonwealth Fund. The underinsured can experience high out-of-pocket costs that can reach $10,000 or more. High out-of-pocket costs can be avoided by purchasing a Medigap plan such as Medicare Plan F. Medicare Plan F is going away, though, leaving many scrambling to determine how to cover costs. What Is Medicare Supplement Plan F? Many people ask, “What is Medicare Plan F?” It is one of the ten Medigap plans currently available. These plans provide supplemental health insurance that covers various...

The New Medicare Advantage Enrollment Pe...

Those who are enrolled in Medicare Parts A and B are eligible to enroll in a Medicare Advantage Plan. The Medicare Advantage General Enrollment Period begins on Jan. 1 and runs through March 31. It is important to understand what is and is not allowed during this enrollment period.   Return to Original Medicare During the open enrollment period, beneficiaries can drop their advantage plans and return to Medicare Parts A and B. Once the Medicare Advantage Plan is dropped, citizens are immediately re-enrolled in the original Medicare. Then, beneficiaries have the option of...