What Does Original Medicare include?
Original Medicare is a fee-for-service health plan that includes Part A and Part B.
- Medicare Part A (Hospital Insurance)
Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care.
- Medicare Part B (Medical Insurance)
Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
Medicare Part A in Detail
What qualifies you to be eligible for Part A Medicare? First, you need to be either 65 or disable. You or your spouse will also have to of worked for 10 years and have paid your taxes.
Does Medicare Part A have a premium? There is no premium for having Medicare Part A if you worked for 10 years or 40 quarters where you paid into Medicare.
How do you sign up for Medicare Part A? If you Qualify for Medicare Part A you will be automatically enrolled in Part A. You will receive your “Welcome to Medicare” letter in the mail approximately 3 months prior to your effective date. Your red white and blue Medicare card will be in this welcome package and will be needed if you wish to enroll in a Medigap or Medicare Advantage plan.
Medicare Part B in Detail
How do you qualify for Medicare Part B? To qualify for Medicare part B you must be of 65 years of age and have worked for the last 10 years and paid your taxes. You can qualify if you are disabled or have End-Stage Renal Disease.
Is there a premium for Part B Medicare? There is a premium for Part B Medicare. It will be automatically deducted from your benefit payments if you receive payments from one of these,
- Social Security
- Railroad Retirement Board
- Office of Personnel Management
How much does Part B Medicare Cost in 2022? The standard Part B premium in 2021 will be $148.50 A majority of people will pay this amount. Below is a chart that explains how your Medicare Part B might be higher based off of your adjust gross income as reported to the IRS from 2 years prior to enrolling in Medicare.
What is Medicare part D?
Medicare Part D is drug coverage that will provide you the medications you need. Part D plans are provided by private Insurance companies that are regulated by federal programs. You can sign up for a Part D drug plan on basic Medicare A and B, While on a Supplemental Plan, or when enrolled in a Part C Medicare Advantage Plan. With a Part C Medicare Advantage plan, Part D is included in the plan. With a Supplemental plan, you will need to add a separate Part D plan.
Frequently Asked Questions About Medicare Part D.
How much does Medicare Part D cost?
Am I eligible for Medicare Part D?
Do I need to get a Medicare Part D Plan?