Medicare Supplement | Part B Deductible Rider
Wisconsin Medicare Supplement | Part B Deductible Rider
Medicare Supplement Plans in Wisconsin
A Medicare Supplement in Wisconsin does not follow the lettered A-N plans like most of the country. In Wisconsin, the Medicare Supplements use the base and the riders. In this article, we discuss the Part B deductible rider and some of what Medicare Part B covers. You can read more about the riders for Medicare Supplemental Insurance in Wisconsin by visiting our Blog.
What is the Part B Deductible
The part B deductible is the amount of the yearly deductible for your Part B services. This amount is set by CMS which administrates Medicare.
The amount of the part B deductible can change but is normally it is very low compared to under 65 health insurance plans. The deductible for 2023 is $226.00.
Starting January 1, 2020, Medicare Supplement plans (Medigap) can no longer cover the Medicare Part B deductible unless they are renewing a plan that was purchased prior to January 1, 2020.
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Part B Deductible Rider – Medicare Supplement Plans WI
This might be a little obvious but… the Part B deductible rider covers the Part B deductible. Once the deductible is paid for either by you or by the insurance company your Medicare Part B will pay 80% of the Part B services and either you or the “base” of your Medicare Supplemental Insurance will pay the remaining 20%.
The Part B deductible rider is one of the riders that we recommend for you to NOT take. There are changes coming in the year 2020 that do not make it a wise choice today.
We recommend that you pay the Part B deductible out-of-pocket
If you took the rest of the riders and left out the Part B deductible that would be Medicare Supplement Plan G. If you took the Part B deductible rider and the rest of them that would give you the equivalent of a Plan F.
Medicare Part B
Medicare Part B (medical insurance) is a component of Original Medicare and provides coverage for services and supplies that are medically essential to managing your health and wellness.
This will include doctors office, outpatient health care, preventive services, ambulance service providers, and durable medical-related equipment. It also will cover part-time or periodic home health and rehabilitative services, like physical therapy, if ordered by a health care provider to treat and manage your condition.
Who is Eligible for Part B?
Anybody who is qualified for premium-free Medicare Part A is also eligible for Medicare Part B by simply enrolling and then paying a monthly premium. If you aren’t eligible for Medicare Part A, you can qualify for Medicare Part B by fulfilling the following conditions:
- You must be 65 years or older.
- You must be a U.S. citizen, or a permanent resident lawfully residing in the United States for at least five continuous years.
You must pay your Part B premium every month for as long as you have Part B (even if you don’t use it).
You might also be eligible for automatic Medicare Part B enrollment through some form of disability. If you less than 65 years old and receiving Social Security or Railroad Retirement Board (RRB) disability benefits, you will immediately be enrolled in Medicare Part A and Part B after 24 months of disability payments. You could also be eligible for Medicare Part B enrollment prior to age 65 if you have got end-stage renal disease (ESRD) or amyotrophic lateral sclerosis.
When You Should Enroll in Part B
At the age of 65 or if you meet the requirements for Medicare through disability, you will have to sign up for Medicare Part B during the course of your Initial Enrollment Period (IEP).
The IEP is the seven-month enrollment period that starts three months prior to you turning age 65, including the month you turn age 65 and ends three months afterward. Your Medicare coverage beginning date will be dependent on which month you signed up during the course of initial enrollment.
If you obtain health coverage from an employer health care plan, you may decide to delay enrollment, because Medicare Part B charges a monthly premium.
If you don’t enroll during the course of your initial enrollment period and you do not qualify for a special enrollment period, you could also sign up during the yearly General Enrollment Period (GEP), which extends from January 1 to March 30. You may possibly have to pay a late enrollment penalty for not enrolling when you were first eligible.
Signing up for Medicare
For more details on Medicare in Wisconsin and how to sign up for Medicare, click the button below for the free guide.
I hope this helps explains the Part B deductible rider and how it works with the Wisconsin Medicare Supplement Plans. We are always here to help and answer any questions you might have. There is never a cost for our services and you could reach us at the number below.