Effective July 1, 2020.
Oxford has changed their position regarding having MEDICARE PART B. If you are over 65, and have Oxford Medical Coverage, Oxford will determine whether your Medicare was Primary or Secondary before payments to doctors will be made.
Medicare Primary insurance simply means that Medicare pays first and any other insurance pays secondary. The real question then is When does Medicare become primary? Medicare pays first or second depending on what types of other health coverage you have. Some people have no other coverage so Medicare becomes primary by default.FEDERAL RULE
Medicare will be considered Primary if your Company averages less than 20 employees. Full or part time employees are counted whether they are on your Medical Plan or not.
Medicare PART A (hospital) is Free. Medicare PART B (Doctors) has a cost depending on INCOME.
| 2020 FILING SINGLE |
2020 FILING JOINTLY |
2020 MONTHLY PREMIUM |
|---|---|---|
| $85,000 or less | $170,000 or less | $144.60 |
| $85,001 up to $107,000 | $170,001 up to $214,000 | $214.60 |
| $107,001 up to $133,500 | $214,001 up to $267,000 | $320.70 |
| $133,501 up to $160,000 | $267,001 up to $320,000 | $426.70 |
| Above $160,000 | Above $320,000 | $532.70 |
Additionally, if you were to decide to leave Oxford and be on Medicare, most people take a Medicare Supplement that costs between $200 to $300 monthly.
Please call Margolis And Associates at 212 684-0711 for further assistance.