CoverRight CEO, Richard Chan explains the key Medicare out of pocket costs you should plan for when signing up for Medicare. We review original Medicare out of pocket costs including premiums, coinsurance, deductibles, and max out of pocket costs. We offer advice on how you can plan to manage your healthcare costs by considering different private Medicare options. We review each of the following Medicare plans:
✅ Medicare Part A out of pocket costs and how much you’ll have to pay when you go to the hospital once you’re covered by Medicare.
✅ Medicare Part B and what you’ll pay each month, your annual deductible requirements, how coinsurance works, and if there is a maximum out of pocket cost.
✅ Medicare Part D for prescription medications and the importance of understanding what your specific medications will cost based on where you live, type of drug, and plan you’re on.
✅ Medicare Part C – How to analyze out of pocket costs and what you should know about these plans
✅ Medigap – How a Medicare Supplement can help reduce unexpected out of pocket costs by adding additional Medicare coverage when your enroll in Medicare.