Medicare , What insurance company is Part A and what about Part B? I know $134 will be taken out of my Soc Sec payment?

  • by Anyone
  • Feb 08,2018
  • 7 answers

Medicare , What insurance company is Part A and what about Part B? I know $134 will be taken out of my Soc Sec payment?


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Insurance Answers (7)

Rick 3 months ago

Part A is if you are hospitalized, it is pre paid via the money taken from your paychecks while working
Part B is for office visits, ER visits, etc, that's what the $134 a month is for
Neither are an Insurance Company, both are run by the government
You are not required to take part B if you do not want it however you would be 100% responsible for all bills in case of an accident or sudden illness. And don't say you are healthy and never get sick. My Dad always said that too and never saw the Dr, on his 75th birthday he slipped, fell and fractured his elbow and from then on was in the hospital once a year until he passed at 84

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curtisports2 3 months ago

Part A is free if you had at least 40 quarters or ten years of significant earnings. Part A is hospital.
Part B is doctors and other medical care outside of the hospital. Part B carries a premium of $134 if you are turning 65 this year and also are signing up to collect SS or are already collecting SS.
These are not 'insurance companies'. It is the federal government.
Optional Part C is the Medicare supplemental plan. These ARE sold by insurance companies and premiums vary.

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Judith 3 months ago

Medicare is federal; doesn't matter if you are talking about Part A, B, C or D. However, the federal government has contracts with private insurance companies to process the federal Medicare claims. As to which company, it depends upon the state you live in. It is still a federal program.
Some people have a private insurance to supplement Medicare. I do. I have Medicare and a BCBS supplement. Between the two insurances I have no out-of-pocket medical bills to pay except for my prescription copays.

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H. Marie 3 months ago

A and B are automatic and there is no insurance company as such, the medical bills are submitted to Medicare for payment
if you have supplemental insurance as you should then there is an insurance company involved

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StephenWeinstein 3 months ago

Neither of those is an insurance company. Both of them are medicare, a government program. Part A is funded through payroll taxes on workers who have job. Participants pay for part B, usually through deduction from their social security payments.

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Zarnev 3 months ago

Part A is hospital coverage which is given to you free of charge as long as you have the required credits.
Part B is doctor and outpatient coverage and does have a premium, which for most people is $134 per month. You are not required to keep Part B if you don't want but be aware that you can only sign up for Part B in the future between January 1 and March 31 for a July 1 effective date and you'll have a permanent penalty you'll have to pay every month.
Part C is the Medicare Advantage plans, many of which have Part D coverage included. Many people get these plans so they won't have to pay the Part A deductible of $1340 or the Part B deductible of $183, plus the co-pays and co-insurance. You must have Part A and B to get on this type of plan. Many of these plans have additional coverage such as dental and vision coverage in addition to many other extras.
Part D is not required but be aware that if you don't get Part D, either as a stand alone policy or as a part of a Medicare Advantage plan, you'll have a permanent penalty you'll have to pay each month if you ever do get on Part D. In addition, if you delay you can only get on a Part D plan in January so if you get sick in March requiring $1000 per month medications you can't get coverage for the remainder of that year.
Medicare is federal so it doesn't matter in which state you reside. The Part D plans are state specific so you can only get on a CA plan. Medicare Advantage plans are county and sometimes even zip code specific so you can only get on a plan offered in your area.

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Flower 3 months ago

You can read up on their website. Part B is what you pay $134 a month for. It covers out-patient services. Part A is free if you worked and paid taxes in the U.S. long enough. That covers in-patient services. Your insurance is Medicare, the government, unless you have an Advantage plan. That works like an insurance network of doctors and hospitals.

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