Kentucky Medicare plans are broken down into four main parts. These Inclde Part A, Part B, Prescription Drug Programs (PDP), and Medicare Supplements. We will be exploring each of these four parts of the Kentucky Medicare Plans and what your costs will be when you are on a Medicare insurance
Kentucky Medicare Plans – Part A
Part A is dedicated mostly to inpatient hospital care but also covers skilled nursing services, hospice care, and home health services. Most people are automatically enrolled in Part A when they turn 65. While there are not premiums (monthly charges) involved with Part A there is a deductible and coinsurance. Before we get into these costs you need to understand the benefit period for Kentucky Medicare Part A. A benefit period in Part A is defined as 63 days after you no longer have the status of being inpatient. So if you have a surgery and are sent home and then have a complication 54 days later that is part of the same benefit period. If that same complication happened on day 67 then it would open a new benefit period. Understanding this concept makes it easy to grasp your exposure to the costs of Part A.
Kentucy Medicare Plans – Part A – Your Costs
Now that you understand the benefit period we can look at what Part A will cost you. On a monthly basis Part A will cost you nothing. It is a premium free insurance policy. When it does cost you is when you use any inpatient services. We are going to break down the two most common services people use; hospital services and skilled nursing care.
Kentucky Medicare Plans – Part A – Hopsital Care Costs
For each benefit period you will pay:
- A deductible of up to $1,156 and nothing more for the first 60 days in the hospital as of 2012
- $283 per day for days 61-90 in the hospital
- $566 per day for days 9-155 in the hospital
- All costs for days 156 on for time spent i the hospital
Kentucky Medicare Plans – Part A – Skilled Nursing Costs
- Days 1-20 No Charge
- $141.50 per day for days 21-100
- All costs for all days after day 100
If you really want a break down of all the costs you can find them in the guide that the governement put out on the Medicare home page
You can limit your exposure to these costs by getting a Kentucky Medicare supplement insurance plan. These plans are specially designed to help with the gaps in Medicare. This is the last topic we will cover in this article.
Kentucky Medicare Plans – Part B
Part B was designed to help with outpatient care and doctors visits. It has a monthly premium, an annual deductible (what most private insurance plans have), and coinsurance.
Kentucky Medicare Plans – Part B – Your Costs
- $99.90 per month premium
- $140 annual deductible
- 20% coinsurance
This all seems well and good but if you hate math then this looks more like Sanskrit that an insurance plan. To give you a more practical example: Lets say Jonny Does had to go in for outpatient surgery. The total cost for the surgery was $1000. What he would pay right off the bat (other than his monthly $99.90 premium) would be $140 plus 20% of the remaining amount. So that would be $1000 – $140 = $860 then multiply $860 X 20% = $172.80. So your total cost would be $312.80. Now if you had another outpatient procedure before the end of the year you would only pay 20% of those charges because you would have already covered the annual deductible.
Just like in Part A you can limit your exposure to these costs using Kentucky Medicare Supplement Insurance, which is the last topic in this article. So make sure you keep reading to get a full explanation of how that works.
Kentucky Medicare Plans – Prescription Drug Programs
Prescription Drug Programs (PDPs) were created in the early part of this century to help seniors with their prescription drug needs. These plans are managed by private insurance companies and are highly customized based off of an individuals specific prescription needs. For this reason it is difficult to give an exact amount for how much a PDP will cost a specific individual. We do know that the average for all people who are currently on a plan is $31 per month. Your individual plan may be more or less than this average.
If you would like a free, no hassle, custom quote for a prescription drug plan use our contact form and one of our representatives will be happy to correspond with you to get a listing of your prescriptions and give you a quote that is tailored for your needs.
Kentucky Medicare Plans – Kentucky Medicare Supplement Insurance
Kentucky Medicare Supplement Insurance is a highly regulated privately managed insurance option that works with your Kentucky Medicare Plans to give you the most comprehensive coverage. These plans are specifically designed to fill some or all of the gaps in your medicare coverage. There are currently ten different types of plans that can be purchased and they will fill the gaps in medicare to varying degrees. Medicare supplement plan F and Medicare supplement plan G are the most popular plans that we see people getting because they fill almost all the gaps that are left by Kentucy Medicare Plans part A and part B. If you are interested in getting a Kentucky Medicare supplement plan then we can give you a free, no hassle, quote via e-mail if you fill out our QUOTE FORM.
We guarantee that your information will not be shared with any other company. You will receive an easy to read quote with details of the plans we recommend to most of our clients. No one will show up at your house and you will not receive any mail or phone calls that you do not specifically request. You can contact us directly and get a live human being that lives in the United States to help you understand all your medicare options. We look forward to serving you and helping you secure your future.
