Original Medicare is a social insurance program administered by the United State Government providing health insurance coverage to people who are aged 65 and over; to those who are under 65 and are permanently physically disabled or who have a congenital physical disability; or to those who meet other special criteria.
Once the Medicare deductible is met, Medicare will cover 80% of the Medicare-approved amount of any given medical cost. The remaining 20% of cost is the responsibility of the beneficiary. Medicare beneficiaries can purchase a Supplement Plan, also known as a Medigap, to cover the unmet 20%. Medigap plans are offered by private insurance companies and only pay when Medicare pays. To learn more about Medigaps and determine what plan may be right for you, please visit the New York State Insurance Department website.
Medicare Part A: Hospital Insurance
Premium:
Co-Insurance/Deductible:
Per Benefit Period in Hospital -
Skilled Nursing Facility -
Medicare Part B: Doctor’s Insurance
* The standard Medicare Part B monthly premium will be $99.90 in 2012, a $15.50 decrease over the 2011 premium of $115.40. However, most Medicare beneficiaries were held harmless in 2011 and paid $96.40 per month. The 2012 premium represents a $3.50 increase for them.
Medicare Part D: Drug Prescription Insurance (Optional)
Medicare Part D prescription coverage is available to those with Original Medicare and some Medicare Advantage Plans. View Medicare Part D plans available for 2012.
Medicare Advantage Plans, Medicare Part C
Medicare Advantage Plans, also known as Medicare Part C, are offered in many areas of the country by private companies that sign a contract with Medicare. These plans must provide Medicare-covered benefits and may offer additional benefits that Medicare doesn’t cover, such as prescription discounts, vision or dental services. People may have to pay an additional monthly premium for the extra benefits.
Enrolling Into Medicare
Enrolling into Medicare Parts A, B, C and D are only permitted during certain enrollment periods. To learn more, call 1-800-Medicare or visit Medicare.gov.
