Medicare Advantage costs include:
You will not have to pay a premium for Medicare Part A if you or your spouse have worked and had payroll taxes deducted for ten years (40 quarters) or more. That is called premium-free Part A.
If you do not meet the minimum work requirement, you may still be able to enroll in Medicare Part A, but you will need to pay a monthly premium. The amount of the premium depends on how many work credits you have earned.
You will pay a monthly premium for Medicare Part B. The amount varies depending on your income.
Medicare Advantage plans set a maximum on the amount you will have to pay for out-of-pocket costs each year. If your costs exceed that amount, you will not have to pay for covered services again until the next calendar year. This is different from Original Medicare, which has no limit on the amount you can spend.
Once you are enrolled in a Medicare Advantage plan, you will receive an Evidence of Coverage (EOC) document every year. It includes details about what the plan covers, how much you pay, and more. Your plan will send you information about how to access the EOC by October 15 of every year.
You will also receive an Annual Notice of Change (ANOC). This document lets you know about any changes that will be implemented in the plan in the coming year, including any change in costs. Your plan will send you the ANOC by September 30. Any changes in costs go into effect on January 1 of the next year.
You can elect to have your Medicare Advantage premium deducted from your retirement benefits each month. Or, you can get billed directly by your plan.
There are several ways you can pay your Medicare Advantage premium:
Learn more about Banner Health’s Medicare Advantage plans.
Contact Banner Medicare so we can answer any questions you may have and even help you enroll.
Call (888) 788-1931 (TTY 711) to speak with a licensed sales agent.
Use our online form to have a licensed sales agent contact you.
Have questions or need help enrolling?
Call (833) 516-1007 (TTY 711) to speak with a licensed sales agent.
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