Navigating your way through the Medicare system can be highly confusing. Selecting the right plan, managing your government insurance policy, and more can be frustrating. The information below will guide you and provide you with the answers you need regarding Medicare Part A, Part B, and choosing a Medicare Supplement Plan.
Medicare Part A
The 2022 Medicare Part A premium covers hospital services. To be eligible for this coverage, a person must be at least 65 years old and meet specific requirements. Those who have not paid taxes into the Social Security system must have worked for ten years to qualify for this type of coverage.
Most individuals do not pay a monthly premium for Medicare Part A because they or their spouse (if applicable) paid into the system while working. If a person needs to pay a premium, the amount will depend on how long they worked and when those years were completed. Individuals who need to pay a monthly premium will automatically receive a bill from Social Security every three months. Those who need to pay a premium should call Social Security directly if they are unsure how much they owe each month.
Medicare Part A Costs
Original Medicare Part A costs in 2022 will be the same as in 2021. But there are some exceptions to that rule, and it’s important to know what those exceptions are. As with all things Medicare, it can get complicated. If you’re well-acquainted with how Medicare Part A works and how much it costs, feel free to skip ahead to the next section. But if you could use a quick overview of how Original Medicare Part A works, read on.
Medicare Part A covers inpatient care received at hospitals and skilled nursing facilities (SNFs). It also includes services related to hospital stays, like hospice and nursing home care, and some home health care services. Most people get Part A automatically when they turn 65, and they do not have to pay a premium for this coverage if they or their spouse paid into Medicare through payroll taxes for at least ten years.
Medicare Part A Requirements
The Medicare Part A coverage requirements are fairly straightforward but have some important nuances to consider.
- You must be 65 years or older and be a U.S. citizen or permanent legal resident who has lived in the United States for at least five consecutive years.
- If you qualify for Medicare due to disability, you may also be eligible to receive Medicare Part A benefits; however, you will usually not have to pay a premium.
Medicare Supplement Plans
If you are enrolled in Original Medicare, you may be eligible for a Medicare Supplement Plan. In addition to Part A and Part B, these plans cover some of the costs associated with healthcare services that Original Medicare did not cover.
Here’s what you need to know about Medicare Supplement Plans:
Benefits. Medicare Supplement Plans can help pay for copays and coinsurance that Original Medicare doesn’t cover. They also include coverage for some services under Part A or Part B but aren’t covered explicitly by them (for example, ambulance services).
Copays and deductibles. These are charged when patients see their doctors or use other outpatient services, such as physical therapy or lab tests.
Neighborhood pharmacies. If you have a Medicare Supplement Plan, it will cover prescription drugs from a pharmacy in your plan’s network without requiring an additional payment. If you go outside of this network (for example, if your pharmacy is out of inventory), you’ll have to pay the total cost of those medications until they return to stock at another location within your plan’s network.
Decision Making
Medicare Part A can be confusing for individuals, especially when figuring out what precisely each category means. Knowing your plan and its requirements is vital, whether you are a senior or an individual that cares for a senior. You want to make informed decisions on your health matters and the health of your seniors. So do not rush into the decision-making process.
Take time, do the research, and read everything you can get your hands on before making confident decisions. You can find all the resources you need for Medicare Part A and other Medicare supplement plans at MedicareConsumer.com today, where you can compare all the best Medicare plans available to you from top carriers within minutes.
