What is Medicare Part A?

Medicare Part A covers hospital and skilled nursing facility stays, hospice care, and some home health care costs. This is one of the two parts of Original Medicare. Most people get Part A for free (no premium) as long as they have worked at least 10 years and paid Medicare taxes. Even if you are…

What is Medicare Part B?

Medicare Part B helps to cover doctors’ appointments, as well as preventative and specialty services, outpatient care, home health care, and some medical equipment. This is the second part of “Original Medicare.”

What is “Original Medicare”?

Medicare Part A and Medicare Part B are often referred to as “Original Medicare.” This government health coverage program is a fee-for-service plan, meaning you usually pay a fee for each service. Medicare will pay an approved amount up to a certain limit, and you will pay the rest. The alternative to Original Medicare is…

Can I delay my Part B enrollment without a financial penalty?

If you have creditable health insurance coverage as good as Medicare; yes, you can delay your Part B. If you don’t enroll when you’re first eligible for Part B, you can delay Part B enrollment and sign up for Part B later without paying a late enrollment penalty.

When can I add Part B to my Part A Medicare?

IEP: If you apply for Part B during “Initial Enrollment Period or Open Enrollment Period”, you won’t have to pay a late enrollment penalty. GEP: If you apply for Part B during the “General Enrollment Period”, the coverage will be effective July 1st. If you delay your Part B and do not have creditable health…

Do I need anything else if I have Parts A and B?

Part A covers hospital insurance such as hospital care, skilled nursing facility care, short-term nursing home care, home health-care and hospice.   Part B covers medical services and supplies that are needed as necessary according to patient’s health condition such as doctor visits, outpatient care, preventive services, ambulatory services, and durable medical equipment.   Although…

What’s better: Original Medicare or Medicare Advantage plans?

Original Medicare covers only Parts A and B. There is no limit on your out-of-pocket expenses. It doesn’t cover medical services outside of the U.S., even in emergency situations. It generally covers medical services with any doctor or facility that accepts Medicare assignments. No referrals are required to visit providers nationwide. It does not include…

Is Medicare Part A free?

If you or your spouse have worked for at least 10 years (40 quarters) and paid Medicare taxes, you are eligible for premium-free Part A. If you have not met the 40 quarters, you can pay the Part A premium which in 2019 is $437. If you paid Medicare taxes for 30-39 quarters, the standard…

Is Medicare Part B free?

You pay a monthly premium for Part B. Premium amounts vary depending on your income. The higher your income, the more you pay for the premium. For those who earn low-income, there is a government program, called Medicaid or Low-Income Subsidy, that helps cover premium payments for Part B.

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