Agent's Medicare Resources

This page is intended for licensed agent's only.

Original Medicare Part A 

2024 PART A DEDUCTIBLE & COVERAGE

1)The 2024 PART A  HOSPITAL DEDUCTIBILE: The 2024 Part A deductible is $1,632 for each inpatient hospital benefit period before Original Medicare starts to pay. A benefit period begins the day you're admitted to a hospital or skilled nursing facility and ends when you haven't spent the night in one of them for 60 consecutive days. If you're admitted to a hospital or skilled nursing facility after one benefit period has ended, then a new one begins, and you’ll have to pay another deductible.  
2) Medicare Part A hospital insurance covers but is not limited to inpatient hospital care, skilled nursing facility, hospice, Etc...

LINK TO MEDICARE.GOV PART A

Original Medicare Part B

2024 PART B MEDICAL COINSURANCE, COPAYS AND COVERAGE

1) The 2024 PART B  MEDICAL DEDUCTIBILE: The 2024 Part B annual deductible is $240 before Original Medicare starts to pay. You pay this deductible once each year.  No benefit periods apply to Part B coverage.
2) Dont forget the 80/20 rule. Original Medicare Part B will pay 80% of the Medicare covered service and the patient will be responsible for the other 20%. Unless the Medical practice accepts assignment.
3) Medicare Part B covers but is not limited to Primary Care Office visits, Specialist Office visits, Part B medications typically medications administered by and in a doctors office, DME (durable medical equipment) including but not limited to diabetic monitoring supplies, etc...
LINK TO MEDICARE.GOV PART B

MEDICARE ENROLLMENT PERIODS

Medicare Annual Enrollment Period

October 15th to December 7th

1) During the Medicare Annual Enrollment period from October 15th to December 7th the beneficiary can make all the different changes they would like until the last product picked. For instance if a client decied to enroll into one MAPD plan and then chooses to enroll into another MAPD plan the last plan chosen will be the plan that will be applied for the January 1st effective date.
2) New benefits cannot be disclosed until Ocotber 1st and no enrollment applications can be accepted until October 15th.
3) AEP applications are effective January 1st of the new year.

Medicare Open Enrollment Period

January 1st to March 31st

1) During the Medicare Annual Enrollment period from January 1st to March 31st the Medicare beneficiary can change from one MAPD to another MAPD or they can drop there MAPD and go to a PDP.
2) You can not solicit the Medicare Open Enrollment period.
3) OEP applications are effective typically the first of the following month.

LINK TO MEDICARE.GOV ENROLLMENT PERIODS

PART D PENALTY CALCULATOR

The cost of the late enrollment penalty depends on how long you went without Part D or creditable prescription drug coverage.

Medicare calculates the penalty by multiplying 1% of the “national base beneficiary premium” ($32.74 in 2023) ($34.70 in 2024) times the number of full, uncovered months you didn’t have Part D or creditable coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium.

The national base beneficiary premium may increase or decrease each year, so your penalty amount may also increase or decrease each year.

***Please note that this calculator is only an estimate of what the Part D penalty may be, please contact social security and or Medicare to find out what the actual cost may be.