Medicare Part Bcovers Outpatient Service. The standard Part B premium amount is $134 (or higher depending on your income). However, most people who get Social Security benefits will pay less than this amount ($109 on average). Part B has a $183 Deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment.
There is no Prescription Drug Benefit in Original Medicare.
To get Medicare drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.
Two ways to get drug coverage
If you do not buy a Part D Plan when you are first eligible, you will limit your ability to enroll in the future and you will pay a Late Enrollment Penalty when you do enroll and for as long as you have coverage.
A type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans.
If you’re enrolled in a Medicare Advantage Plan, most Medicare services are covered through the plan and aren’t paid for under Original Medicare.
Each Medicare Advantage Plan can charge different out-of-pocket costs. Each plan can also have different rules for how you get services, like:
These rules can change each year.
A Medicare Supplement Insurance (Medigap) policy, sold by private companies, can help pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles. You pay the private insurance company a monthly premium for your Medigap policy in addition to the monthly Part B premium that you pay to Medicare.
Medicare Supplement policies are Standardized by Medicare. The only difference between the same type of plan between different insurance companies, is the monthly premium you pay them.
Medicare Part A covers Inpatient Hospital Services and has a $1,340 Deductible for each benefit period. Most people don't pay a monthly premium for Part A (sometimes called "premium-free Part A").
Customized Medicare Planning