Medicare Part A (Hospital)
In general Medicare Part A covers:
Skilled nursing facility care
Home health services
How much do I pay for Part A?
As long as you have worked for 40 quarters (10 years) and have paid your taxes then you pay nothing for Part A.
When am I eligible for Part A?
You are eligible to begin receiving your benefits under Part A of Medicare on the 1st day of your 65th birthday month. If your birthday happens to be on the 1st day of the month then you are eligble to receive Part A on the 1st day of the month before your 65th birthday month. If you are already receiving Social Security benefits then you will be automatically enrolled into Part A and will receive your red, white and blue Medicare card roughly 3 months before your 65th birthday month. If you are not receiving Social Security benefits then you will need to contact Social Security to sign up for Part A. You can sign up for Part A as early as 3 months before your birthday month.
Some individuals will be eligble to receive Medicare before turning 65 if they become permanetly disabled.
How much do I pay for covered Part A services?
For Medicare covered services you are generally left with some sort of deductible or co-insurance. Below we will explain what Medicare pays for covered Part A services and how much responsibility you will be left with. Keep in mind these amounts are if you have Part A only and do not have any extra coverage (like a Medigap plan). You may be eligible to purchase a separate policy that could help you pay or even eliminate these expenses. Contact us today for information on what coverage is available to protect yourself from these expenses.
Days 1-60: $1,484 deductible (unless you were admitted for the same illness within the past 60 days)
Days 61-90: $352 per day
Days 91 and beyond: $704 per each "lifetime reserve day" after day 90 for each "benefit period" (up to 60 days over your lifetime)
Skilled Nursing Facility:
Days 1-20: Covered in full by Medicare
Days 21-100: $185.50/day
Days 100+: You are responsible for ALL COSTS