Seniors

The ABCD’s of Senior planning for those individuals aging into 65 and anyone 65 and older..!!!

If you are approaching 65 or you are 65 and older your primary healthcare as of January 1st, 2014 will be from Medicare or Medicaid….!!! J You will have to relearn your “A, B, C,D’s” and how they apply to medicare and your future Healthcare after you turn 65….!!!


Part” A” is related to your Hospitalization….!!!!!

Detailed Medicare cost information for 2014

  • Monthly premium (for people who pay a premium ):

If you buy Part A, you’ll pay up to $426 each month. Most people get premium-free Part A.

  • Late enrollment penalty: If you don’t buy it when you’re first eligible, your monthly premium may go up 10%. (You’ll have to pay the higher premium for twice the number of years you could have had Part A, but didn’t sign up.) Learn more about the Part A late enrollment penalty.

Part A costs if you have Original Medicare Note All Medicare Advantage Plans must cover these services. If you’re in a Medicare Advantage Plan, costs vary by plan and may be either higher or lower than those in Original Medicare. Review the “Evidence of Coverage” from your plan.

  • Home health care
  • Hospice care
    • $0 for hospice care.
    • You may need to pay a copayment of no more than $5 for each prescription drug and other similar products for pain relief and symptom control while you’re at home.
    • You may need to pay 5% of the Medicare-approved amount for inpatient respite care .
    • Medicare doesn’t cover room and board when you get hospice care in your home or another facility where you live (like a nursing home).
  • Hospital inpatient stay
    • $1,216 deductible for each benefit period .
    • Days 1–60: $0 coinsurance for each benefit period.
    • Days 61–90: $304 coinsurance per day of each benefit period.
    • Days 91 and beyond: $608 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime).
    • Beyond lifetime reserve days : all costs.Note

You pay for private-duty nursing, a television, or a phone in your room. You pay for a private room unless it’s medically necessary.

  • Mental health inpatient stay
    • $1,216 deductible for each benefit period
    • Days 1–60: $0 coinsurance per day of each benefit period
    • Days 61–90: $304 coinsurance per day of each benefit period
    • Days 91 and beyond: $608 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
    • Beyond lifetime reserve days : all costs.
    • 20% of the Medicare-approved amount for mental health services you get from doctors and other providers while you’re a hospital inpatient.Note

There’s no limit to the number of benefit periods you can have when you get mental health care in a general hospital. You can also have multiple benefit periods when you get care in a psychiatric hospital. Remember, there’s a lifetime limit of 190 days.

  • Skilled nursing facility stay
    • Days 1–20: $0 for each benefit period .
    • Days 21–100: $152 coinsurance per day of each benefit period.
    • Days 101 and beyond: all costs.

These are the basic costs for people with Medicare. If you want specific cost information (like whether you’ve met your deductible , how much you’ll pay for an item or service you got, or the status of a claim ), visitMyMedicare.gov  


Part “B” covers your Doctors Care…..!!!!!!!!!

  • Monthly premium:

Most people pay the Part B premium of $104.90 each month. However, if your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount, you may pay more.  

If your yearly income in 2012 (for what you pay in 2014) was You pay (in 2014)
File individual tax return File joint tax return File married & separate tax return
$85,000 or less $170,000 or less $85,000 or less $104.90
above $85,000 up to $107,000 above $170,000 up to $214,000 Not applicable $146.90
above $107,000 up to $160,000 above $214,000 up to $320,000 Not applicable $209.80
above $160,000 up to $214,000 above $320,000 up to $428,000 above $85,000 and up to $129,000 $272.70
above $214,000 above $428,000 above $129,000 $335.70

 Get more information about your Part B premium from Social Security.

  • Late enrollment penalty: If you don’t sign up for Part B when you’re first eligible or if you drop Part B and then get it later, you may have to pay a late enrollment penalty for as long as you have Medicare. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it. Learn more about the Part B late enrollment penalty.

Part B costs if you have Original Medicare Note All Medicare Advantage Plans must cover these services. If you’re in a Medicare Advantage Plan, costs vary by plan and may be either higher or lower than those in Original Medicare. Review the “Evidence of Coverage” from your plan.

  • Part B annual deductible:

You pay $147 per year for your Part B deductible .

In 2014, there may be limits on physical therapy, occupational therapy, and speech language pathology services. If so, there may be exceptions to these limits. 

  • Outpatient mental health services
    • 20% of the Medicare-approved amount for visits to a doctor or other health care provider to diagnose your condition or to monitor or change your prescriptions. The Part B deductible applies.
    • 20% of the Medicare-approved amount for outpatient treatment of your condition (like individual or group psychotherapy, often called counseling or therapy).
    • If you get your services in a hospital outpatient clinic or hospital outpatient department, you may have to pay an additional copayment or coinsurance amount to the hospital. This amount will vary depending on the service provided, but will be between 20-40% of the Medicare-approved amount.
  • Partial hospitalization mental health services: You pay a percentage of the Medicare-approved amount for each service you get from a doctor or certain other mental health qualified professional. You also pay a copayment for each day of partial hospitalization services provided in a hospital outpatient setting or community mental health center, and the Part B deductible applies.
  • Outpatient hospital services
    • You generally pay 20% of the Medicare-approved amount for the doctor or other health care provider’s services, and the Part B deductible applies.
    • For all other services, you also generally pay a copayment for each service you get in an outpatient hospital setting. You may pay more for services you get in a hospital outpatient setting than you would pay for the same care in a doctor’s office.
    • For some screenings and preventive services, coinsurance , copayments, and the Part B deductible don’t apply (so you pay nothing). 

These are the basic costs for people with Medicare. If you want specific cost information (like whether you’ve met your deductible , how much you’ll pay for an item or service you got, or the status of a claim ), visitMyMedicare.gov  


Part ”C” provides coverage for what Medicare does not pay for….

 


Part D (Medicare prescription drug coverage)

These are the basic costs for people with Medicare. If you want specific cost information (like whether you’ve met your deductible , how much you’ll pay for an item or service you got, or the status of a claim ), visit MyMedicare.gov Find out if Medicare covers a specific test, item or service that’s not listed on this page. For additional information Contact John W. Collier, LUTCF, FSS at 775-829-1221, Cell 775-250-2326, or email john@nvsilver.com …. Or go the, Medicare.gov website for seniors: http://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html


GET A QUOTE NOW

Your Name (required)

Mailing Address

City

State

Zip Code

Your Email (required)

Phone

Effective Date of Part "A"

Effective Date of Part "B"

.