Do I have to pay a deductible?

Yes. The Part A deductible for 2022 is $1,556. That means you will not receive any Medicare Part A benefits unless you fully pay off the deductible. This is a per-visit deductible, meaning that if you go to the hospital on Monday and then again on Wednesday for a different reason, you will have to pay for the deductible twice!

What happens after my deductible is met?

Great question! Once your deductible is met, you need to be admitted to a 2-night stay in a hospital before your hospital benefits kick in. After the 2 nights, you are fully covered at a 100% rate for nights 3 through 60.

What happens after 60 days?

Between days 61 and 90 at the hospital, you are responsible for a daily deductible of $352.

Am I covered after 90 days at all?

Yes, however, the daily deductible after day 90 becomes a whopping $704! This continues until day 150 at the hospital.

Am I covered after day 150?

You are not covered under Medicare Part A after day 150. This means that any incurred costs after day 150 needs to be fully covered out of pocket by the patient!

Am I eligible for Medicare Part B?

Anyone who is eligible for Medicare Part A is also eligible for Medicare Part B. Enrollment is required for Part B and the current 2020 premium is $144.60 (varies depending on income and marital status - see chart below for details).

That's the monthly premium. Is there also a deductible?

Yes, there is also a deductible for Part B. The current annual deductible for Part B is $198, so your Part B coverage won't start until that is fully paid.

That's a really low deductible!

Yes, it is! However, once the deductible is met, you have to pay a 20% coinsurance fee for every visit uncapped -which means you could be responsible to pay large sums of money for ongoing outpatient care and/or significant surgeries!

How can I protect myself and my wealth from this?

To protect from these excessively high medical bills, many seniors will consider purchasing private insurance called Medicare Supplement insurance policies (also known as Medigap policies).

Whew. Where can I learn more about these Medicare Supplement policies?

Click on the Medicare Supplement tab to learn more, or schedule a free appointment/consultation with one of our experienced agents by calling 855.200.6335 or by scheduling a free consultation session with us!

When Can I Switch Back To Original Medicare?

If you are currently on a Medicare Advantage plan and you're trying to switch back to traditional Medicare, you have two times to do so: Annual Enrollment Period - (October 15th – December 7th) Medicare Advantage Disenrollment Period (MADP) - (January 1st – February 14th)

Where can I learn more about Medicare Part C?

If you have any questions about switching your plans, feel free to contact us at 855.200.6335 or schedule your free consultation now!

How do I enroll in Medicare Part D?

here are two ways to enroll in a Part D Plan: A stand-alone Medicare Part D Plan (PDP). A Medicare Advantage plan that includes drug coverage (MAPD).

What is Donut Hole (Coverage Gap)?

The "donut hole" is a gap in coverage that can occur in certain Medicare prescription drug plans (Part D) when an individual's total drug costs reach a certain threshold. During the coverage gap, known as the "donut hole," the individual must pay more out-of-pocket for their drugs before their plan's coverage kicks in again. The Affordable Care Act (Obamacare) has closed this coverage gap over time so that by 2020, beneficiaries will pay no more than 25% of the cost of their drugs while in the coverage gap.

How much coverage does Medicare Part D give me?

Medicare can only give a certain amount of drug coverage for each person, so once your full cost (a combination of what you pay and the insurance company pays) reaches $4,020, you will go into the coverage gap where you would pay 25% of the cost of both brand name medication and generic medication. Once you reach $6,350 out-of-pocket, you will get out of the Coverage Gap and reach Catastrophic coverage and the costs of your medications will drop significantly to just 5% or $3.35 for generics and $8.35 for brand-name drugs, whichever is greater.

What is a late enrollment penalty?

Choosing not to enroll in Medicare Drug coverage when you are first eligible could lead to a late enrollment penalty. The penalty does not apply if you had other creditable drug coverage (such as employer/union coverage, VA benefits) or if you get Extra Help. The late enrollment penalty is 1% of the average cost of a Medicare Part D plan. That average for 2020 is about $32.74, which would be around $.30. That small penalty accumulates for the number of months you go without drug coverage. Once you do enroll in a drug plan, that extra penalty is added on to your monthly cost. For example, if you go two years without drug coverage and then enroll in a plan, Medicare would add on about $7.20 a month to the cost of your drug plan.

Can I get additional help for Medicare Part D?

You may qualify for very little to zero premium and co-pays on your prescription plans if you meet certain income and resource qualifications. You may qualify if in 2019 your annual income was below $18,735 if you're single ($25,365 for married) and your resources add up to $14,390 if you’re single ($28,720 for married). Resources that count are money in a checking or savings account, stocks, and bonds. Resources that don’t count are your home, one car, burial plot, furniture, and other household and personal products. If you’re on Medicaid or other state programs, you may automatically qualify for Extra Help. To find out more about Extra Help and to see if you qualify, fill out an application with Social Security.

Jawad Bushnaq
- Apr 5, 2023
- 2 min read

Protecting What Matters Most: Introducing Ikhlas Insurance Group

Updated: Sep 13, 2023

Assalamualaikum and welcome to Ikhlas Insurance! We're a team of insurance experts dedicated to providing affordable and reliable insurance options to individuals, families, and businesses in the Muslim community. We believe that everyone deserves access to quality insurance coverage that aligns with their values and beliefs.

happy family with Ikhlas Insurance Group

At Ikhlas, we offer a range of insurance options to meet the diverse needs of our clients. From Medicare to individual and family plans, dental and vision coverage, hearing insurance, and more, we've got you covered. We're committed to helping our clients find the best insurance coverage for their needs, with a focus on affordability and quality.

Book Now

happy with Sharia-compliant life insurance

But perhaps our most important offering is our Sharia-compliant life insurance. We understand the importance of providing for your loved ones in the event of your unexpected passing, and we're here to help you do just that. Our Sharia-compliant life insurance plans are designed to meet the requirements of Islamic law while providing you with the peace of mind that comes from knowing your family will be taken care of.

According to a study by the National Funeral Directors Association, the median cost of a funeral in the United States is over $7,000. This is a significant financial burden for many families, and Sharia-compliant life insurance can help alleviate this burden Ikhlas Insurance Group. Our plans provide a lump-sum payment to your beneficiaries in the event of your death, which can be used to cover funeral expenses, outstanding debts, and other financial obligations.

But our commitment to our clients goes beyond just providing insurance coverage. We believe in building strong relationships with our clients and serving them with sincerity and transparency. Our team of experts is here to help answer your questions, address your concerns, and provide you with the guidance you need to make informed decisions about your insurance coverage.

We're also passionate about supporting the Muslim community, and we're proud to offer group insurance plans to businesses. Group plans can be a cost-effective way for business owners to provide insurance coverage to their employees, which can help attract and retain top talent. According to a study by the Kaiser Family Foundation, over half of all Americans receive health insurance through their employers.

But we know that finding the right insurance coverage can be overwhelming. That's why we offer free consultations with our team of experts, who can help you navigate the complexities of the insurance world and find the coverage that's right for you.

At Ikhlas Insurance, we're more than just an insurance company. We're a trusted partner in protecting your health and well-being, and we're committed to serving you with sincerity and transparency. Contact us today to learn more about our insurance options and how we can help you find the coverage you need.

Book a Free Consultation Today!

Book Today

Protecting What Matters Most: Introducing Ikhlas Insurance Group

Recent Posts

Let's get social