Medicare Part B Is Not Mandatory: You May Want To Consider It
By Joanna Hamilton on December 23, 2010, 5:38 pm
Medicare Part B covers many services, tests, preventive treatments, etc. that are common among health care patients, but are not covered in the Part A plan. Though many services and products are covered, keep in mind that Part B is still not a 100% insurance coverage plan. So, as with any other insurance policy, you should understand the plan and coverage completely upon enrolling.
Is Your Plan Canceled
People whose plans will be axed should have received a notice in October. They have until Dec. 31 to choose a new Medicare Advantage plan or original Medicare. Those who choose original Medicare can buy a Medigap policy, regardless of their health. They should also enroll in a Part D drug plan.
Extra Coverage
Medicare Part B is considered a Medicare supplemental insurance and there is a monthly premium for the extra coverage. In some cases if an individual is in the lower income brackets they can qualify for Medicaid to help pay for the expenses. Other private insurances are available to the senior residents of Mississippi such as Medicare Part C also known as Medigap which covers expenses not paid by regular Medicare as well as helping to pay for the out of pocket expenses such as deductibles and co-payments. Many Medicare Part C plans also include Part D which is the prescription drug program for Medicare recipients. Without Part D your medicines will not be covered by insurance. When checking out health insurance for seniors find out what your extra supplement plans include so you are not caught unaware when the need presents itself.
Premium
For all others, the standard Medicare Part B monthly premium will be $115.40 in 2011, which is a 4.4% increase over the 2010 premium. The Medicare Part B premium is increasing in 2011 due to possible increases in Part B costs. If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher than $115.40 per month.
