How does Medicare Part A and Part B work?

Robert Bache, MedicareBob, explains in this video how Medicare Part A and Part B work. The concepts presented in this 2013 video are still accurate today in 2020. However, the costs have changed. This article will provide you with up to date Part A and Part B costs for 2020. 

How Medicare Works

In 2020, Medicare Part B monthly premium will cost you $144.60 per month. If you only have Parts A and B, MedicareBob says, “Every time you have to go to the hospital, you have to pay the first $1408 before Medicare pays a single penny.” This $1408 Part A deductible will last for 60 days every time you go to the hospital. That’s how Medicare Part A works, so how does Medicare Part B work?

MedicareBob says Medicare Part B is “for all your medical and doctor bills: labwork, doctor visits, x-rays, surgeries, and therapies.” Medicare Part B deductible is $198 per year. After you pay this small deductible, MedicareBob says, “The problem is Medicare will step in and pay 80% of your bills.” Consequently, you have to pay for the other 20%. 

Furthermore, MedicareBob adds, “There is no max out of pocket. There is no ceiling to Medicare Part B, so your exposure is unlimited.” Therefore, MedicareBob recommends you look into getting a Medicare Advantage or Supplement plan. 

MedicareBob Office

Call a licensed agent at MedicareBob’s office 1-855-468-4717, and we can help you figure out which type of coverage is best for you. Alternatively, you can get a quote or learn more about Medicare Advantage and Medicare Supplement Plans

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