Medicare is different this year because of health care reform, and if you’re not aware of how this important program has changed, pay attention.

Be aware of deductibles, co-insurance, out-of-pocket limits and prescription drug costs
If you’re new to Medicare it’s important to know that both parts of Original Medicare (A and B) have deductibles. And, the Part A deductibles are not tied to a calendar year. Instead, they’re tied to a 90-day benefit period, with some exceptions.

The Medicare Part B benefit also includes coinsurance after you meet your deductible. With coinsurance, Medicare pays a percentage of each bill and you pay the rest (between 20 and 45 percent, depending on the service), after applicable premiums and deductibles.

New and existing benefits to help you fill in Medicare’s gaps
People concerned about some of the gaps in original Medicare have the option to enroll in insurance products regulated by the government but provided by private companies. These are products designed specifically to fill some of the different gaps in Medicare.

More at specialsections.suntimes.com…