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How Much Does Medicare Part B Cost Living In WNY?

By Andrew L Hibbard
@WNYMrMedicare

Originally Posted: 30 JAN 2023
Edited & Updated:

Medicare Part B costs more than it should, let’s just say that off the get go. 

It should be free, like Medicare Part A, since you’ve given the government hundreds of thousands of dollars in forced FICA taxes over your, very likely, 40-year career, for them to say, “that wasn’t enough, and we need more money from you.”

But it isn’t free. Sorry to say, you’ve gotta pay for it, so let’s at least look at what you get before we look at what you owe.

Medicare Part B is considered “Medical Coverage,” which is quite vague in my honest opinion. “Medical” can mean many things to many people, but I’ll break things down for you.

To keep things as simple as possible, just remember any “outpatient” services will fall under the category of Part B.

Outpatient services being anything you do, or receive, which allows you to come home the same day, meaning completion of care in less than 24 hours.

The obvious would be your typical office visits with your primary care doctor, or certain specialists, eye exams, going for an x-ray or blood work. Similar sequence of show up, pay your copay, get done whatever needs to get done, go home.

However, some medical services traditionally requiring you to stay overnight as an inpatient, can now be done as an outpatient – even in a hospital setting (which therefore would NOT fall under Part A, even though Part A is called “Hospital Coverage”).

Things like cataract surgery, carpal tunnel surgery, even some hip and knee surgeries patients are showing up at the hospital for their pre-scheduled surgery time, being sliced and diced under the knife in the morning, and the same afternoon they’re being sent home with some pain pills in time to make a Manhattan and watch a rerun of Matlock.

Any out-of-pocket expense for these outpatient services will vary greatly based on what type of private Medicare insurance plan you pick. Too much variation to get into here. For this SmartStart Answers article we are just focusing on fundamentals.

So, the real question to be asking is...

How much does Medicare Part B cost living in WNY?

Unlike Medicare Part A (which most people enjoy as “Premium-Free”), Part B does have a cost to it --- and that cost is based on the income you earned the last two years working (or what your spouse earned the last two years if you are claiming dependent coverage as a non-working spouse).

Your Medicare Part B price will be paid monthly. It is typically taken (more like syphoned) right from your Social Security income check each and every month, first thing, before they deposit your money, because they want “their” money before they give you yours...

The monthly Medicare Part B price has reliably risen about 7.5% annually (about $10 a month) since inception in 1966 under President Lyndon B Johnson.

Looking at the last 5-year prices, we can project and proactively plan for the future to be better prepared: 

2019 $135.50 
2020 $144.60
2021 $148.50
2022 $170.10 (a 13.6% increase because of a back-door deal with BIG PHARMA)
2023 $164.90 (a first-ever reduction because back-door deal was discovered and deemed unethical)

Future 5-year projections: 

2024 $177.30
2025 $190.60
2026 $204.90
2027 $220.30
2028 $236.80

Fun Fact: If the government considers you a high-income earner (even if you don’t think you are), you will be subject to IRMAA and pay more money for the cost of your Medicare Part B price.

IRMAA, Income Related Medicare Adjustment Allotment, is a surcharge the government assess you based on your tax filing status (married-joint, married filing separate, or single filer), using a basic, tax bracket chart.

Essentially, they assume you don’t like the extra money you’ve worked hard to be worth, so they want you to give it to them. (To pay for the free healthcare given to those who choose not to work).

If you are subject to an IRMAA adjustment, you will be notified by letter, with your exact increases.

Good News! There is a form, that they don’t willingly tell you about (or really want you to know), which can document and disclose your higher earnings WHILE WORKING and, more importantly, how your income may have been reduced in retirement.  If this is the case, you can request to be reconsidered and have your monthly Medicare Part B price reclassed so you can pay a reduced rate (or best case scenario, the standard rate).

Ok, there’s a lot to deal with, right? I get it.

And as an active adult in WNY, who’s always on the run, you need a smart solution to cut through all the clutter. 

If you want some light shed on your situation, your hand held the whole way, and making your move to Medicare simpler, easier, seemingly stress-free and almost effortless, I can do just that. Here's how...

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HAVE MORE MEDICARE QUESTIONS?

Read the most common questions folks in WNY ask when they aren’t sure how to get started with Medicare. Click HERE to see the complete Medicare SmartStart Answers article archive.


ABOUT THE AUTHOR

Andrew L Hibbard is a prominent name when mentioning Medicare in WNY, but one you may have never heard of. Working behind-the-scenes, he is a best-selling author, expert advisor and successful agency owner. Focused on educating first, Andrew prides himself on being considered “the only advocate in WNY fighting for better and more reliable Medicare resources, free from insurance company conflict of interests.”

To take away the stress of trying to tackle Medicare alone and feeling forced to figure it all out by yourself --- Andrew created the WNY Medicare SmartStart Program; a free, step-by-step plan, that holds you by the hand to sign up and start Medicare smartly. (More than 850+ people have gone through the program and call it “the lazy way to get Medicare done for you without costing you a dime”).

**SPECIAL FREE GIFT** If you want to see how hundreds of WNY'ers each year are doing things different with Medicare, and getting it all done in record time, you can request a special "Medicare SmartStarter Info Kit” at no-cost to you, Andrew will give it to you as his free gift. It will prove, without a doubt, why his Medicare SmartStart Program is widely considered the most popular and preferred way to sign up and get started with Medicare in WNY, Guaranteed! Simply click HERE right now, and everything will be rushed to you right away. It's that easy!

You Can Feel Confident Knowing What To Do With Medicare.

I Can Take Away The Stress Of Trying To Tackle It On Your Own.

Figuring out all the fine print with Medicare doesn't need to feel stressful. You don't have to spend your scarce free time at home, alone, in isolation, relying on your own assumptions and hit-or-miss guesses, attempting to do-it-yourself.

Confidently knowing exactly what to do (and when) with Medicare is the key to avoiding future fines and fees and only my Medicare SmartStart Program will show you how.

If you don't have the time or the desire to deal with Medicare directly, and want a BETTER, SMARTER, time-saving solution to short-cut hours of your own trial and error so you know --- without question --- you aren't messing anything up making a mistake...

Let me put my proven Medicare SmartStart Program to work for you. 

Click the link below to take the next step and schedule a complimentary Medicare SmartStart Strategy Session with me --- it's that easy!

You Can Feel Confident Knowing What To Do With Medicare.

I Can Take Away The Stress Of Trying To Tackle It On Your Own.

Figuring out all the fine print with Medicare doesn't need to feel stressful. You don't have to spend your scarce free time at home, alone, in isolation, relying on your own assumptions and hit-or-miss guesses, attempting to do-it-yourself.

Confidently knowing exactly what to do (and when) with Medicare is the key to avoiding future fines and fees and only my Medicare SmartStart Program will show you how.

If you don't have the time or the desire to deal with Medicare directly, and want a BETTER, SMARTER, time-saving solution to short-cut hours of your own trial and error so you know --- without question --- you aren't messing anything up making a mistake...

Let me put my proven Medicare SmartStart Program to work for you. 

Click the link below to take the next step and schedule a complimentary Medicare SmartStart Strategy Session with me --- it's that easy!
medicare help sign up for Medicare Part B Erie county
Who Is Andrew Hibbard?
Since 2015, Andrew has helped over 850+ Western New Yorkers through his nationally recognized Medicare SmartStart Program, taking away all the stress from folks trying to tackle Medicare on their own. His impressive record of success has been gotten Andrew featured in Forever Young Magazine and the BEE Group Newspapers, exclusive interviews on WECK Radio's Senior Matter's Program, and author an #1 Amazon best-selling guidebook on the subject, "Starting Medicare Smartly," revealing how the rules specifically and significantly differ for NY residents versus other states.
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