Medicare Part B payments are paid to the government not an insurance company and helps pay for outpatient services such as doctor visits.
Part B will pay 80% of Medicare approved services such as doctors’ fees. It will not cover the excess charges a doctor can charge. There is no cap on the 20% coinsurance that you pay. If the cost is $1,000 you owe $200, if it is $100,000 you owe $20,000 plus any excess charges.
In 2020 the Part B premium is $144.60 per month minimum and can increase due to income. But, depending on the area you live in there may be HMO Advantage plans which can help reduce this premium. You must pay the Part B premium to sign up for and keep your HMO Advantage Plan.
HMO Advantage Plans combine Part A which helps with hospital cost and Part B for outpatient services and may include Part D for drugs. In Orange County, California, there are several Medicare HMO Advantage Plans that offer Part B reductions amounting to $20, $52 or up to $115 per month.
If you sign up for an HMO Medicare Advantage Plan that offers a Part B reduction and you have your Part B deducted from your Social Security, the plan will coordinate with Social Security and reduce your premium by the amount that particular plan offers.
For more information and to find out if there is a Medicare HMO Advantage Plan that will reduce your Part B premium, call us today or click on the calendar below to book a FREE No Obligation consultation.