Pre-Existing Conditions - If You're over 50, You Haz 'Em.

[hedda_foil]

61. One thing that most people miss about the 80/20 split ...

You don't get charged 20% of your actual part B medical bills. Medicare pays a much, much smaller amount fixed per contract with all providers. Say your bill is $500. Medicare's formula reduces that to, say, $130. They pay 80% of the $130 and you pay the remaining 20% of that amount.

Same goes for Part A, but there are a couple of copays.

So even if your bill is in the six figure range, the amount you're left with is much less. That's what Medigap policies(Medicare Supplement Insurance) pay.

BTW, I can't believe the difference in premiums is between Minnesota and Illinois, where I live. The type of insurance MineralMan is talking about, where everything is paid for, is Plan F. It's the exact same plan wherever you live. In Illinois, the premium for Plan F has risen to nearly $200/month. I shop plans every year to find the least expensive premium and couldn't find Plan F offered by any company for less than around $170/month. That's ridiculous. I've had to switch to Plan N, where I have to pay $20 for doctor's visits and the relatively small Part B B deductible. Otherwise, it pays for everything. A few companies offer it for around $105.