Medicare Part B Premium
Year 2003 brought few changes to the charges paid for Medicare coverage, thanks to the Medicare Modernization Act. Before the enactment of this Act, everyone was paying the same amount no matter how low or how high his earnings were. But 2007 brought a positive change and retirees with higher incomes were told to pay higher premiums than others. In recent years, retirees were seen paying $96.40 every month as their Medicare Part B premium. The government would add its seventy five percent share to this amount so that the final amount could be reached. The amount paid by retiree would change, however, if his income crossed $85000. The same would happen with a couple earning more than $170000.
A number of different income brackets were designed like this and people had to pay more Medicare Part B premium if they cross that particular bracket. After a deep analysis, it turned out that the government would end up paying just twenty percent of the total amount while the retiree would be paying the rest eighty percent. The amount being saved by the state from the rich retirees would be used to help retirees with lower income for now they would be paying even lower premiums.
Medicare Part B premium depends on ones income as discussed earlier. The retiree pays for his percentage from Social Security funds, Civil Service Retirement or his Railroad Retirement finances. At the beginning of this plan, the individual need not submit any official documents for the calculation on his premium as the State does that on its own using other evidences. But if at a later stage a big change is encountered in the income, the policy taker needs to submit proof in order to get the amount changed. After this the government will be issuing a document stating the new premium one needs to pay.
Medicare Part B acts more like a support for Part A as it cover a lot many areas that are not covered by Plan A
Alone But whatever plan is taken up, the individual needs to carry out some extensive research to know all the clauses and conditions before opting for the most optimum plan. Medicare Part B premium or Part A premium should not be the only basis for evaluation but their summary of benefits, providers’ directory and Part D Formulary needs to be studied too.
Many things are covered only under Part B and not under Part A, these include diabetic screening, diabetic training classes, colorectal cancer screenings, flexible sigmoidoscopy, barium enema, home based heath care, doctor and hospital visits, lab tests, overall health examination, immunizations, blood tests, urinalysis, screening of cardiovascular system, glaucoma tests and bone mass measurement. The last few examinations are allowed once a year or once every two years but this is the demand of the tests nature. Medicare Part B premium does not seem that heavy after checking all the details about its services and coverage.