Medicare Changes Part B Deductible

Name: Omaha Insurance Solutions
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Medicare changes came out in December. The Medicare changes Part B deductible was an increase. The Medicare Part B deductible for 2016 was $166. The 2017 Part B deductible is $183. While the $17 increase is small in dollar terms, it was a 10% increase. That’s big!

Part B Deductible

What is the Medicare Part B deductible? Medicare Part A and Part B have various deductibles and co-insurance costs that you pay. While Medicare covers the majority of medical cost, you have some significant responsibility, especially if there are frequent and/or high dollar medical need. Part B covers doctors visits and outpatient procedures, which is everything other than the hospital. Medicare will cover 80% of those costs. Your portion is 20%, but before the 20% starts, you have an annual deductible. The key to the Part B deductible is that it is an annual deductible. You pay the Part B deductible only once per year, which is different from the Part A hospital deductible.

Plan G Vs. Plan F

Medicare Supplement Plan G is becoming the most popular supplement plan available. Plan G covers all the Medicare Part A deductibles and Part B co-insurance EXCEPT the Medicare Part B deductible. You pay that directly to the provider after the Medicare discount. Once that is satisfied for the year, you pay nothing else out of pocket.

You may ask, ‘why don’t I do Plan F where the Part B deductible is also covered?’ If you were on a Plan F, your monthly premium would include the cost of the Part B premium and the increase. You also would pay a substantial fee to the insurance company for them to write the check for $183 for you. By being on Plan G as opposed to Plan F, you avoid the sizeable annual increase and the additional fee for paying the Part B deductible.

While the Medicare changes Part B deductible was not large in dollar terms, the reality is the cost of Medicare will continue to rise along with all medical costs. It is important to have an agent who can help you understand your plan and find the plan that best fits your needs at the lowest cost. Give us a call at 402-614-3389 for a free evaluation.

What Our Clients Are Saying About Omaha Insurance Solutions

Cheryl A.

After I acknowledged that I was nearing Medicare age, I realized I knew nothing about it so I reached out to two very informed friends. They both recommended Chris Grimmond. They praised his knowledge and helpfulness so I gave him a call. After meeting with Chris, I was 100% convinced that we would be working together. He answered all my questions and helped me understand the Medicare system. I feel confident I made the right decision to work with Chris and his team at Omaha Insurance Solutions.

Steve S.

When it came time for me to enroll in Medicare, I had no idea what the process was or what types of coverage to expect. Christopher at Omaha Insurance Solutions took care of all of those questions and alleviated any anxiety with the process. His patience is outstanding and is outdone only by his knowledge of the products he represents. His services cost nothing, and he advocated for the best plan to fit my specific needs. I highly recommend Omaha Insurance Solutions when looking for answers to Medicare questions.

Paul K

The Medicare decision process was overwhelming for me. Chris and Angi did an exceptional job of laying out pros and cons for each option and patiently listened to my concerns and answered my questions. I never felt pressured to make a decision or steered in a direction that I was not 100% comfortable with. I trust Chris and would not hesitate to recommend Omaha Insurance Solutions to my family and friends.