A deductible is the amount you pay out of your own pocket before your health insurance plan starts paying its share of the medical services or items you receive.
For example, if your plan includes a $2,000 deductible, you will be responsible for paying the first $2,000 worth of medical care yourself. Once you’ve contributed this amount, your insurance begins to pay its share of your health care.
Medicare Part A requires a deductible of $1,364 per benefit period in 2019. A benefit period begins the day you are admitted for inpatient care at a hospital or skilled nursing facility, and it ends when you have not received inpatient care for 60 days. The Medicare Part A deductible is not an annual deductible like many health insurance plans have.
The Medicare Part B deductible is $185 per year in 2019.
Deductibles for Medicare Part C (Medicare Advantage) and Part D (prescription drug plans) vary by each plan.
In order for your medical payment to be counted toward your deductible, it must typically meet each of the following requirements:
There are a few ways in which you might be able to avoid paying a deductible.
If you have additional questions about how deductibles work or would like some help finding the right Medicare Advantage plan for your needs, call to speak with a licensed insurance agent today.
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