Medicare Part A
Medicare Part A
Original Medicare comprises of two main parts: Medicare Part A or hospital insurance as well as Medicare Part B or medical insurance. Medicare Part A covers Medicare inpatient care, which includes care received when staying in a nursing house, a hospital and in rare circumstances, at home. In addition to that, it also covers blood transfusions and hospice services. It does NOT, however, cover long-term care, like extended stays in a nursing home. Individuals can think about buying long-term care insurance if this is something they wish to plan for.
A majority of people become eligible for Medicare Part A automatically when they reach the age of 65 if they are already collecting retirement benefits from the Social Security Administration. You may also qualify for Part A before 65 in case you have a disability, ALS, or an end-stage renal disease. You must either be an American citizen or a legal permanent US citizen for a minimum of 5 consecutive years.
Cost of Medicare Part A
A majority of beneficiaries will pay nothing for Medicare Part A. However, Medicare Part A receivers pay taxes during their working years that are particularly for their future Medicare hospital coverage during retirement. These taxes go to compensate for the cost of Part A in the long run
As a beneficiary of Medicare A, you will receive coverage for hospital costs that are important to your inpatient care, like meals, a semi-private room, medications, nursing services that are part of your treatment, and other supplies and services from the services. This includes care that was received through:
- Critical access hospitals
- Mental healthcare
- Long-term care facilities
- Acute care medical facilities
- Participation in a qualifying clinical research study
- Inpatient rehab facilities
The cost for a private room (unless medically required), personal care stuff such as razors, shampoo, private-duty nursing, or other extraneous charges such as TV and telephone.
Part A Premiums
If you purchase Part A Medicare, you will pay around $422 every month in 2018. If you paid taxes related to Medicare for less than thirty quarters, the normal Part A premium is $422. On the other hand, if you paid those taxes for 30 to 39 quarters, the normal premium for Part A will be $232. If you have contributed for 40 or more quarters during your life, then there is no cost to Medicare Part A.
In a majority of cases, if you decide to buy Part A Medicare, you are required to have Medicare Part B or medical insurance.
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This book helps you learn about the different parts of the Medicare program, including Medicare Part A and Part B (together, they are often called “Original Medicare”), Part C (often called “Medicare Advantage”) and Part D (the part of Medicare that covers your prescription medications).
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