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
- Jul 7, 2023
- 3 min read

Unleashing the Power of Gratitude: Transforming Lives and Elevating Well-being

Updated: Sep 13, 2023

In the pursuit of holistic well-being, Islam offers profound insights and teachings that not only nourish our spiritual selves but also impact our physical and mental health. At Ikhlas Insurance, we believe in the power of gratitude as a transformative force that aligns with Islamic principles and elevates our overall well-being. Join us on this enlightening journey as we explore the extraordinary connection between gratitude, Islamic teachings, and how they contribute to our pursuit of optimal health and happiness.

Gratitude as an Act of Worship: In Islam, gratitude, or "shukr," is deeply rooted in faith. The Quran reminds us of the importance of expressing gratitude to Allah for His countless blessings. When we recognize and appreciate the blessings bestowed upon us, we engage in an act of worship that strengthens our connection with the Divine. This spiritual gratitude positively impacts our mental and physical health, fostering a sense of contentment and peace.
Gratitude and Mental Well-being: Islamic teachings encourage believers to focus on gratitude as a means of cultivating a positive mindset. When we appreciate the blessings in our lives, we shift our perspective, allowing us to navigate challenges with resilience and optimism. This positive outlook promotes mental well-being, reducing stress, anxiety, and depression. Gratitude unlocks the doors to serenity and emotional balance.
Gratitude and Physical Health: The Islamic principles of gratitude extend beyond the spiritual realm and impact our physical health as well. When we express gratitude for our bodies, acknowledging them as trusts from Allah, we are inspired to take better care of ourselves. Gratitude fuels healthy habits, such as nourishing our bodies with wholesome food, engaging in regular exercise, and seeking proper medical care. By caring for our physical health, we honor the blessings bestowed upon us and embrace the concept of holistic well-being.
Gratitude and Relationships: Islam places great emphasis on fostering harmonious relationships with others. Expressing gratitude to our family, friends, and community strengthens the bonds of love and compassion. Gratitude enhances our interpersonal connections, promotes forgiveness, and creates an atmosphere of positivity. Healthy relationships contribute to our mental and emotional well-being, ensuring a supportive environment that nurtures our overall health.
Gratitude and Financial Well-being: In Islam, gratitude extends to the realm of financial well-being. Recognizing the blessings of sustenance and provision, we develop a sense of contentment and gratitude for what we have. This mindset helps us make wise financial decisions, practice moderation, and prioritize essential needs, including health insurance. By appreciating the blessings of financial security, we cultivate a balanced approach to wealth, ensuring its proper use for the betterment of ourselves and others.

Gratitude, deeply rooted in Islamic teachings, serves as a pathway to holistic well-being. By embracing gratitude as a core aspect of our lives, we nurture our spiritual, physical, and mental health. Islamic principles guide us towards appreciating the blessings bestowed upon us, fostering gratitude in every facet of our existence. At Ikhlas Insurance, we invite you to integrate gratitude into your journey of health and happiness. Let us navigate the path together, ensuring comprehensive coverage and nurturing your well-being in alignment with Islamic values.

As we express gratitude for the blessings of life, let us remember that true gratitude is an act of worship that connects us to Allah and enhances our relationship with ourselves and others. Embrace gratitude as a way of life and witness its transformative power.

Connect with our sincere experts at Ikhlas Insurance to explore how Islamic values intertwine with health insurance and discover comprehensive solutions for your well-being.

Book your consultation today:

📞 (855) 200-6335

✉️ support@ikhlasinsurance.com

💻 www.ikhlasinsurance.co m/book

Unleashing the Power of Gratitude: Transforming Lives and Elevating Well-being

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