At Emerald Medicare, we know how important it is for you to have a clear understanding of your healthcare options. In this post, we’ll break down Medicare Parts A and B — often referred to as “Original Medicare” — to help you make informed decisions about your health coverage.
What is Medicare Part A?
Part A (Hospital Coverage) covers essential services such as inpatient hospital stays, home health care, and skilled nursing facility care. Together with Medicare Part B, these services form the core of Original Medicare.
Q: “Is Medicare Part A free?”
A: Most people don’t pay for Part A if they have paid Medicare taxes (FICA) while working. However, if you don’t qualify for premium-free Part A, it can be purchased for a monthly premium. The exact amount may vary based on how long you or your spouse worked and paid Medicare taxes.
What is Medicare Part B?
Part B (Medical Coverage) is designed to cover doctor visits, outpatient services, X-rays, lab tests, and preventive screenings. It’s a key component of your healthcare, granting you access to a wide array of medical services.
Q: “Do you need Medicare Part B?”
A: Yes and No; If you have health insurance through a current job or your spouse’s employer plan, you can delay your Medicare Part B enrollment without penalty*. Once the employer coverage ends, you have an eight-month window to sign up for Part B. Further, you MUST be enrolled in Medicare Part B if you want to sign up for a Medicare Advantage and/or MediGap plan. Reviewing the costs associated with your employer coverage is essential when making this decision.
*company providing coverage must be greater than 20 employees.
How Do Parts A and B Work Together?
Together, Medicare Parts A and B provide coverage for both hospital and medical care at 80% coverage. While Part A focuses on inpatient care, Part B covers all outpatient services, making them complementary in providing comprehensive healthcare coverage throughout retirement & beyond the age of 65.
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Key Points to Consider
Enrollment
When you’re eligible, you can enroll in both Medicare Parts A and B through the Social Security Administration (SSA). Enrollment for original Medicare is automatic if you’re already receiving Social Security benefits. However, if you are not collecting Social Security, you’ll need to be proactive and sign up either by going online to SSA.gov, In-Person to your local Social Security office, or by calling Social Security for a phone appointment.
Coverage
Original Medicare covers the essentials, but there are services it doesn’t include, such as prescription drugs (covered via Part D), routine dental or vision care, and/or hearing aids. Understanding these gaps is crucial as you consider additional coverage options like Medigap or Medicare Advantage plans.
Costs
While Part A is typically premium-free, Part B comes with a standard monthly premium which can increase based on your income. When you apply for Part B, your income level is calculated using your tax return from 2 years prior. Additionally, depending on your supplemental coverage, you should expect some out-of-pocket costs, such as deductibles, co-pays and coinsurance. The amount will vary depending on the plan you choose.
Emerald Medicare is your Trusted Medicare Resource.
Making the right decisions about your Medicare coverage can be confusing, timely, and/or stressful. If you have questions about Medicare Parts A and B, or need help navigating your options, our team of Licensed Medicare experts is here to assist throughout retirement & beyond.
Contact Us:
Phone: (888) 683-6372 or (845) 358-1220
Email: office@emeraldmedicare.com
