Hi, I’m Alex with Health Benefits Associates. In this video, I’m going to explain Medicare Nevada Parts A and B
When you turn 65 there are two benefits you’re eligible from the Social Security Administration. The first is your social security retirement income and the second is your Medicare eligibility. Both of these just take one phone call into Nevada Medicare. I would recommend speaking with a financial adviser before turning 65 to determine the best way to take your retirement income. In the rest of this video, I’ll cover the Medicare Nevada Parts A and B portion.
Medicare has 4 parts, A, B, C and Medicare Part D. A and B are provided through Nevada Medicare while C and D are provided through private insurance companies. You do not need all 4 parts.
Medicare Nevada Part A
Part A is the In-Patient Hospital coverage. This covers you while you’re in the hospital. Many people elect part A even if they continue to be covered under a company health plan. Most people don’t pay a premium for Part A. If you have worked and paid into Medicare for 10 years, part A will be free.
Let’s go over what it covers.
Part A includes an initial deductible amount that you would pay if you go into the hospital. Since these change every year I have included a link in this video to the most recent figures. This will be somewhere around $1,400. After you pay this deductible, you have no further payments for the hospital for the first 60 days. Days 61 through 90 have a certain per-day cost. If you are hospitalized more than 90 days you start using “lifetime reserve days”. As the name implies, you only get so many of these. If running out of lifetime reserve days is a major concern for you I would suggest looking into long-term-care policies. Medicare Nevada Parts A and B are not intended to replace long-term care coverage.
Medicare Nevada Part B
Part B has a monthly premium. This is somewhere around $140. Again, I’ll include a link to the most recent figures in this video since it changes every year. This amount could be less if you are taking social security benefits. If you’re taking Social Security they will deduct this from your social security payments. This amount also could be more if you’re a higher earner. They call this the Income-Related Monthly Adjustment Amount. Here is a link to a grid to find out if you are in this category.
That was the Part B cost, now let’s look at the coverage.
Medicare Nevada Part B covers the doctors. This is normally your medical insurance portion. Part B has a relatively small deductible. It’s somewhere around $185. After this deductible, Medicare splits you the cost 80/20. Medicare pays 80% and you pay 20% for most doctor services.
If you have any other questions about Medicare Nevada Parts A and B please contact our office. We can also help enroll you in a Medicare Supplement Reno or Medicare Advantage Reno plan.
Here are some other Tips for Enrolling in Medicare Nevada.
Find out how a health insurance broker can help you.