Medicare part abcd chart3/24/2024 Upon turning 65, one is “encouraged” to enroll in Medicare Part A however there are circumstances where this is not advised. Please click here for the 2024 IRMAA income chart. This is called the Income Related Monthly Adjustment Amount or IRMAA. The Medicare Part B premium is determined by income higher income seniors pay more for Part B based upon the extent their income from two years prior exceeds $103,000 and $206,000 for married couples (these are 2024 figures). While Part B is partially paid from taxes, it is supplemented with a Part B premium and covers a wide range of medical expenses (office visits, lab, x-ray, surgery, therapies, medical equipment and more). Part A is funded in full from the Medicare taxes you paid while working (or from the Medicare taxes a spouse paid) and primarily covers Hospital claims. However, Medicare Advantage Plans can also provide additional benefits that Original Medicare does not cover, such as routine vision or dental care.The two main parts of Medicare are Part A and Part B (known as Original Medicare). On the other hand, Medicare Advantage Plans typically have network restrictions, meaning that you will likely be more limited in your choice of doctors and hospitals. For instance, in Original Medicare, you are covered to go to nearly all doctors and hospitals in the country. How you choose to get your benefits and who you get them from can affect your out-of-pocket costs and where you can get your care. It is important to understand your Medicare coverage choices and to pick your coverage carefully. Each Medicare Advantage Plan must provide all Part A and Part B services covered by Original Medicare, but they can do so with different rules, costs, and restrictions that can affect how and when you receive care. ![]() This means that you must still pay your monthly Part B premium (and your Part A premium, if you have one). Remember, you still have Medicare if you enroll in a Medicare Advantage Plan. Instead of Original Medicare, you can decide to get your Medicare benefits from a Medicare Advantage Plan, also called Part C or Medicare private health plan. Unless you choose otherwise, you will have Original Medicare. Note: There are a number of government programs that may help reduce your health care and prescription drug costs if you meet the eligibility requirements. If you want prescription drug coverage with Original Medicare, in most cases you will need to actively choose and join a stand-alone Medicare private drug plan (PDP). ![]() There are limits on the amounts that doctors and hospitals can charge for your care.You typically pay a coinsurance for each service you receive.You are responsible for a monthly premium for Part B.You do not need to get prior permission/authorization from Medicare or your primary care doctor. You go directly to the doctor or hospital when you need care.You can see any doctor and hospital that takes Medicare (and most do) anywhere in the country. Under Original Medicare, the government pays directly for the health care services you receive. It is sometimes called Traditional Medicare or Fee-for-Service (FFS) Medicare. Most beneficiaries choose to receive their Part A and B benefits through Original Medicare, the traditional fee-for-service program offered directly through the federal government. ![]() Generally, the different parts of Medicare help cover specific services.
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