Deductible per benefit period, how long is each period?
@BoomerBenefits
6 ай бұрын
Each benefit period is 60 days.
@kelseymundfrom6088 Жыл бұрын
Good things in store for 2023 - thanks for great info!
@BoomerBenefits
Жыл бұрын
You're most welcome!
@joeryan8022 Жыл бұрын
I like your into " One of the most troubling surprises for new Medicare beneficiaries is that their healthcare in retirement is far from free " . Just when we though we were done with worrying now we find we have to do a Phd on all the pitfalls and gotchas and combos of Medicare
@BoomerBenefits
Жыл бұрын
Yes, you are not alone, Joe. When you see FICA taxes being deducted from your paychecks for Medicare for 40+ years, you would hope that Medicare would be paid for by the time you get there, but those taxes only cover Part A. We meet many people every year who are coming into Medicare soon and had no idea that they would have to pay for part of it.
@mimi1o8
Жыл бұрын
Yes, that’s the our , 65’s birthday present, sadly 🫤
@michaelvenditte2010 Жыл бұрын
Danielle you said you have to pay quarterly once you reach 65 what if I'm still working at age 65 which I plan on doing and not file for social security. do you mean to say that I still have to pay that quarterly premium for Medicare if I'm working? please advise. Thanks.
@BoomerBenefits
Жыл бұрын
Hi Michael - If you or your spouse work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire or lose active coverage (whichever comes first). You will only pay the Medicare premiums whenever you're enrolled in Medicare. Watch our video titled, Medicare & Employer Coverage | Should You Enroll In Part B?
@michaelvenditte2010
Жыл бұрын
@@BoomerBenefits Thanks, Danielle. My company has a thousand employees and I'm on the HSA high deductible plan, so I really can't go on Medicare being on HSA until before I retire. I will watch that video you told me to watch. thanks a lot for your help!
@g8way2k1 Жыл бұрын
I just viewed your video regarding "How to pay your Plan B deductible". The ophthalmologist was my first medical appointment for 2023 on 2/17/23. It is now 4/19/2023, two months hence and I have yet to receive a bill. Question is: Should I just sit back and wait further, or should I call his office? I don't want to be penalized for not paying my deductible for Plan B, if there is a penalty at all. Wife and I both have Plan G in addition, and we have been jumping for joy ever since. Thank you ever so much!
@BoomerBenefits
Жыл бұрын
Hi Bill - You can just sit back and wait for the bill. They do have 1 year to file your claim, but we see that most do them quarterly.
@MartySteinberg Жыл бұрын
I turn 65 next year, but will continue working. I Know I need to register during my 65th birthday year, but if I'm not taking medicare until I stop working, do I still need to pay for part B?
@BoomerBenefits
Жыл бұрын
Hi Marty, if you actively work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire or lose active coverage (whichever comes first). Check out our video titled, Retiring Past 65? Learn How Your Medicare Enrollment is Different!
@BoomerBenefits Жыл бұрын
📌Be sure you're prepared for 2023 Medicare costs! You can see an overview of the 2023 Medicare costs here: boomerbenefits.com/new-to-medicare/medicare-cost/ 📌Join our exclusive Medicare Q&A Facebook group to have your questions answered by Danielle and her team: facebook.com/groups/BoomerBenefits 📌New to Medicare? Attend our FREE Medicare 101 Webinar: boomerbenefits.com/medicare-101-webinar/
@carolinagirl220 Жыл бұрын
I just got my husband on PlanG and we're loving it. We've learned everything from your videos. Thanks for all you do!❤
@BoomerBenefits
Жыл бұрын
Thank you so much for the kind words, Joyce! We're so happy our videos were so helpful!
@coreyparker9984 Жыл бұрын
Happy to see some decreases for the new year!
@BoomerBenefits
Жыл бұрын
We are too!
@kelseymundfrom6088
Жыл бұрын
AGREE
@frankish5314 Жыл бұрын
I just realised (maybe I'm slow) but you have to pay part B premiums plus the advantage plan. A decent advantage plan with my Wife's old employer is about $250/m each + part B +drugs = about $1000/m. My SS payout will be around $1100/m... Maybe it was a good thing to not count SS in our retirement planning after all! If our great health continues it looks like a high deductible Plan G makes sense.
@BoomerBenefits
Жыл бұрын
Hi there! Yes, whether you enroll in a Medicare Advantage or a Medigap plan, you are still responsible for the Part B premium. Now, there are many Advantage plans with premiums as low as $0. If you ever want to shop the Medicare plans in your area, whether that be an Advantage plan or High Deductible Plan G, don't hesitate to give us a call at 817-249-8600, and we can help!
@frankish5314
Жыл бұрын
@@BoomerBenefits Thankyou I will do that as we get closer to 65. I did notice that in our area a Humana HD ($2500) Plan G can be had for about $50/m. Vs a zero deductible at $214/m. So your paying an extra $1968/yr to protect a deductible of $2500.. Honestly a HD plan makes the most sense assuming you can afford the risk and your in decent health.
@frankish5314
Жыл бұрын
I was wondering why so many British and European Ex-pats returned home when they got to 65.. Now I know why!...:)
@BoomerBenefits
Жыл бұрын
@@frankish5314 Yes, we definitely recommend having a rainy day fund set aside in case you ever need to meet the plan's High Deductible, but it can be a great fit for those who don't visit the doctor often. Just remember that the deductible can change each year.
@sct4040
Жыл бұрын
$1,000 for the 2 of you. Part B is $165/m + $250 your plan + Part D $30= $445 pp. It’s actually an excellent price. My Cobra for a PPO was $1,229/m and Obamacare HMO is now $1,095/m Silver Plan. My Obamacare is with Blue Cross and it’s is merging with Aetna and the 2024 price will increase by 20% and it’s an HMO. Cobra and Obamacare are ridiculously expensive.
@jeanettecherry1403 Жыл бұрын
Why is it Medicare advantage plans are pushed, but you don't hear much about the Medigap plans. They should be put out there as well.
@BoomerBenefits
Жыл бұрын
We have videos on this channel about both Medigap and Medicare Advantage plans, but the reason why so many of our competitors push Medicare Advantage plans is simply because it's easier to sell someone a $0 premium plan than one that has a monthly premium. The insurance companies themselves get paid many thousands of dollars each year by Medicare for every beneficiary that they convince to enroll in their plan, so they run endless commercials trying to sell their plans.
@sct4040 Жыл бұрын
Part B should be free as well as Part A.
@BoomerBenefits
Жыл бұрын
We understand how frustrating it can be having these premiums!
@SandfordSmythe
2 ай бұрын
Who pays for this?
@cherynenglish6561 Жыл бұрын
Plan G is not an Advantage Plan. It is great, in our county, hardly any providers accept advantage plans.
@joeryan8022
Жыл бұрын
Also there is only a one time windows to sign up for a Medigap policy otherwise it involves health checks and higher premiums , another gotcha !
@jeanettecherry1403
Жыл бұрын
Medigap plans do have higher premiums. However, there are never any surprises about your out of pocket costs. I have an F plan. After 5 days in the hospital, I never had a charge for anything. They pick up where medicare leaves off. No co-pays or deductibles. Even for doctors visits. Medigap plans pick it up.
@BoomerBenefits
Жыл бұрын
There are thousands of providers who accept Advantage plans, but there are certainly some important hospital systems that do not or that only accept 1 plan. We recently saw the Mayo Clinic warn it's members that they would not be accepting Medicare Advantage in one of their clinics. Also, you are correct that if you compare them, Original Medicare has over 1 Million providers whereas many Advantage plans only have a few thousand in their network, so when you have Plan G, you get access to all providers in the country that accept Medicare.
@BoomerBenefits
Жыл бұрын
Agreed - Plan F is the most comprehensive possible coverage, and it is awesome.
@BoomerBenefits
Жыл бұрын
Yes, exactly! In my book, this is chapter 8 and we call it the BIG MISTAKE. People confuse the one-time Medigap open enrollment period with the Annual Election Period in the fall, which actually has nothing to do with Medigap and is not a time when you can enroll in Medigap without having to go through underwriting.
@joannebrazier7003 Жыл бұрын
Widöw
@BoomerBenefits
Жыл бұрын
As long as you were married for 9 months or longer to your late spouse, you can get free Part A premiums under his or her work history if you don't have enough work history to get that on your own.
@bradart7289 Жыл бұрын
My new cola benefits are already wiped out !
@BoomerBenefits
Жыл бұрын
The Medicare Part B premium actually went down this year from $170.10 to $164.90 so for once there is finally a year where the COLA went up considerably and the Part B premiums went down.
Пікірлер: 48
Your videos are always so 'on point', Danielle!
@BoomerBenefits
Жыл бұрын
Glad you think so! Thanks, David.
Deductible per benefit period, how long is each period?
@BoomerBenefits
6 ай бұрын
Each benefit period is 60 days.
Good things in store for 2023 - thanks for great info!
@BoomerBenefits
Жыл бұрын
You're most welcome!
I like your into " One of the most troubling surprises for new Medicare beneficiaries is that their healthcare in retirement is far from free " . Just when we though we were done with worrying now we find we have to do a Phd on all the pitfalls and gotchas and combos of Medicare
@BoomerBenefits
Жыл бұрын
Yes, you are not alone, Joe. When you see FICA taxes being deducted from your paychecks for Medicare for 40+ years, you would hope that Medicare would be paid for by the time you get there, but those taxes only cover Part A. We meet many people every year who are coming into Medicare soon and had no idea that they would have to pay for part of it.
@mimi1o8
Жыл бұрын
Yes, that’s the our , 65’s birthday present, sadly 🫤
Danielle you said you have to pay quarterly once you reach 65 what if I'm still working at age 65 which I plan on doing and not file for social security. do you mean to say that I still have to pay that quarterly premium for Medicare if I'm working? please advise. Thanks.
@BoomerBenefits
Жыл бұрын
Hi Michael - If you or your spouse work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire or lose active coverage (whichever comes first). You will only pay the Medicare premiums whenever you're enrolled in Medicare. Watch our video titled, Medicare & Employer Coverage | Should You Enroll In Part B?
@michaelvenditte2010
Жыл бұрын
@@BoomerBenefits Thanks, Danielle. My company has a thousand employees and I'm on the HSA high deductible plan, so I really can't go on Medicare being on HSA until before I retire. I will watch that video you told me to watch. thanks a lot for your help!
I just viewed your video regarding "How to pay your Plan B deductible". The ophthalmologist was my first medical appointment for 2023 on 2/17/23. It is now 4/19/2023, two months hence and I have yet to receive a bill. Question is: Should I just sit back and wait further, or should I call his office? I don't want to be penalized for not paying my deductible for Plan B, if there is a penalty at all. Wife and I both have Plan G in addition, and we have been jumping for joy ever since. Thank you ever so much!
@BoomerBenefits
Жыл бұрын
Hi Bill - You can just sit back and wait for the bill. They do have 1 year to file your claim, but we see that most do them quarterly.
I turn 65 next year, but will continue working. I Know I need to register during my 65th birthday year, but if I'm not taking medicare until I stop working, do I still need to pay for part B?
@BoomerBenefits
Жыл бұрын
Hi Marty, if you actively work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire or lose active coverage (whichever comes first). Check out our video titled, Retiring Past 65? Learn How Your Medicare Enrollment is Different!
📌Be sure you're prepared for 2023 Medicare costs! You can see an overview of the 2023 Medicare costs here: boomerbenefits.com/new-to-medicare/medicare-cost/ 📌Join our exclusive Medicare Q&A Facebook group to have your questions answered by Danielle and her team: facebook.com/groups/BoomerBenefits 📌New to Medicare? Attend our FREE Medicare 101 Webinar: boomerbenefits.com/medicare-101-webinar/
I just got my husband on PlanG and we're loving it. We've learned everything from your videos. Thanks for all you do!❤
@BoomerBenefits
Жыл бұрын
Thank you so much for the kind words, Joyce! We're so happy our videos were so helpful!
Happy to see some decreases for the new year!
@BoomerBenefits
Жыл бұрын
We are too!
@kelseymundfrom6088
Жыл бұрын
AGREE
I just realised (maybe I'm slow) but you have to pay part B premiums plus the advantage plan. A decent advantage plan with my Wife's old employer is about $250/m each + part B +drugs = about $1000/m. My SS payout will be around $1100/m... Maybe it was a good thing to not count SS in our retirement planning after all! If our great health continues it looks like a high deductible Plan G makes sense.
@BoomerBenefits
Жыл бұрын
Hi there! Yes, whether you enroll in a Medicare Advantage or a Medigap plan, you are still responsible for the Part B premium. Now, there are many Advantage plans with premiums as low as $0. If you ever want to shop the Medicare plans in your area, whether that be an Advantage plan or High Deductible Plan G, don't hesitate to give us a call at 817-249-8600, and we can help!
@frankish5314
Жыл бұрын
@@BoomerBenefits Thankyou I will do that as we get closer to 65. I did notice that in our area a Humana HD ($2500) Plan G can be had for about $50/m. Vs a zero deductible at $214/m. So your paying an extra $1968/yr to protect a deductible of $2500.. Honestly a HD plan makes the most sense assuming you can afford the risk and your in decent health.
@frankish5314
Жыл бұрын
I was wondering why so many British and European Ex-pats returned home when they got to 65.. Now I know why!...:)
@BoomerBenefits
Жыл бұрын
@@frankish5314 Yes, we definitely recommend having a rainy day fund set aside in case you ever need to meet the plan's High Deductible, but it can be a great fit for those who don't visit the doctor often. Just remember that the deductible can change each year.
@sct4040
Жыл бұрын
$1,000 for the 2 of you. Part B is $165/m + $250 your plan + Part D $30= $445 pp. It’s actually an excellent price. My Cobra for a PPO was $1,229/m and Obamacare HMO is now $1,095/m Silver Plan. My Obamacare is with Blue Cross and it’s is merging with Aetna and the 2024 price will increase by 20% and it’s an HMO. Cobra and Obamacare are ridiculously expensive.
Why is it Medicare advantage plans are pushed, but you don't hear much about the Medigap plans. They should be put out there as well.
@BoomerBenefits
Жыл бұрын
We have videos on this channel about both Medigap and Medicare Advantage plans, but the reason why so many of our competitors push Medicare Advantage plans is simply because it's easier to sell someone a $0 premium plan than one that has a monthly premium. The insurance companies themselves get paid many thousands of dollars each year by Medicare for every beneficiary that they convince to enroll in their plan, so they run endless commercials trying to sell their plans.
Part B should be free as well as Part A.
@BoomerBenefits
Жыл бұрын
We understand how frustrating it can be having these premiums!
@SandfordSmythe
2 ай бұрын
Who pays for this?
Plan G is not an Advantage Plan. It is great, in our county, hardly any providers accept advantage plans.
@joeryan8022
Жыл бұрын
Also there is only a one time windows to sign up for a Medigap policy otherwise it involves health checks and higher premiums , another gotcha !
@jeanettecherry1403
Жыл бұрын
Medigap plans do have higher premiums. However, there are never any surprises about your out of pocket costs. I have an F plan. After 5 days in the hospital, I never had a charge for anything. They pick up where medicare leaves off. No co-pays or deductibles. Even for doctors visits. Medigap plans pick it up.
@BoomerBenefits
Жыл бұрын
There are thousands of providers who accept Advantage plans, but there are certainly some important hospital systems that do not or that only accept 1 plan. We recently saw the Mayo Clinic warn it's members that they would not be accepting Medicare Advantage in one of their clinics. Also, you are correct that if you compare them, Original Medicare has over 1 Million providers whereas many Advantage plans only have a few thousand in their network, so when you have Plan G, you get access to all providers in the country that accept Medicare.
@BoomerBenefits
Жыл бұрын
Agreed - Plan F is the most comprehensive possible coverage, and it is awesome.
@BoomerBenefits
Жыл бұрын
Yes, exactly! In my book, this is chapter 8 and we call it the BIG MISTAKE. People confuse the one-time Medigap open enrollment period with the Annual Election Period in the fall, which actually has nothing to do with Medigap and is not a time when you can enroll in Medigap without having to go through underwriting.
Widöw
@BoomerBenefits
Жыл бұрын
As long as you were married for 9 months or longer to your late spouse, you can get free Part A premiums under his or her work history if you don't have enough work history to get that on your own.
My new cola benefits are already wiped out !
@BoomerBenefits
Жыл бұрын
The Medicare Part B premium actually went down this year from $170.10 to $164.90 so for once there is finally a year where the COLA went up considerably and the Part B premiums went down.