Are you getting ready to turn 65? Congratulations on reaching this milestone! As you prepare for Medicare Part A, it’s essential to understand all of the benefits that come with it. For example, that is the part of Medicare that covers hospital stays. But what does it cover, exactly?
Part A includes hospitalization, skilled nursing facility care, hospice care, and some home care. Furthermore, suppose you paid Medicare taxes for ten years while employed. In that case, you are exempt from paying a monthly premium for Part A coverage.
We’ll provide an overview of what Medicare Part A covers and help you understand how to enroll in it. Keep reading for more information!
What Does Medicare Part A Cover in 2022?
Medicare Part A covers inpatient hospitalization, post-hospital treatment services, and brief post-hospital home care. Part A of the End-of-Life Care Benefits Act was designed to fill gaps in state law regarding end-of-life care. In addition, Part A covers palliative care, durable medical equipment, counseling, and social services. Medicare hospice benefits also cover short-term respite care for caregivers.
Part A also covers certain in-hospital home health services received after an inpatient stay. Skilled nursing care, medical social services, and physical therapy are all covered. However, home health aid services are only available when skilled nursing is provided.
Medicare does not cover long-term care, such as longer accommodation in a nursing facility needing help and assistance. People who want to prepare for this option should consider long-term healthcare coverage. Some expenses, however, may be classified as Part B instead of Part A, such as outpatient operations. It’s usually a good idea to get advice from your Medicare insurance broker when determining if something is inpatient or outpatient. What is covered by Part A, on the other hand, is generally hospital-related for emergency or acute care of an injury or sickness.
How Much Does Medicare Part A Cost?
As we stated above, if you worked and paid Medicare taxes for at least ten years, you likely won’t have to pay a monthly premium for Part A coverage. If you have less than 30 quarters of credit history, the premiums are $499 in 2022; if you have 30-39 quarters, your premium is $274 per month in 2022
It’s important to note that you will still have to pay a deductible, coinsurance, and copayments. The Medicare Part A inpatient deductible increased to $1,556 per benefit period in 2022, up from $1,484 in 2021.
When Can You Enroll in Medicare Part A?
Citizens who receive Social Security income are immediately enrolled in Medicare Part A. You will receive your card two to three months before your 65th birthday. So keep an eye out for your card in the mail. The card is red, white, and blue.
Suppose you haven’t yet started receiving Social Security or Railroad Retirement benefits. In that case, it’s a good idea to sign up for Part A at age 65 if you have qualified for “premium-free” Part A. You can do this on the Social Security website.
What is My Medicare Cost-sharing Under Part A?
Following satisfaction of your Part A deductible, you are responsible for the following Part A hospital inpatient coinsurance:
- Days 1-60: $0
- Days 61-90: $389 per day of each benefit period (an increase of $18, or 4.85%, from $371 in 2021).
- Days 91 and beyond: After day 90 for each benefit period, you’ll get $778 in coinsurance per each “lifetime reserve day,” up to a maximum of 60 days over your lifetime (an increase of $36, or 4.85%, from $742 in 2021).
A benefit period starts the day you access a hospital or skilled nursing facility and stops when you are out for 60 consecutive days. If you visit the hospital again within 60 days, the deductible is re-established, and a new benefit duration starts.
What Does Medicare Lifetime Reserve Days Mean?
Unless you have a Medigap policy, Medicare Part A provides you with 60 reserve days. These days are activated if you spend more than 90 days in the hospital. For example, if you have a hospital stay that lasts 100 days in a row, you will have used 10 of your lifetime reserve days. If you go back to the hospital after having another lengthy stay of 120 days, you will have used up 30 (10 + 20) total years of reserves. Once you’ve used up all your lifetime reserve days, you’ll be on the hook for all Part A expenses from day 91 forward for any hospitalization that lasts longer than 90 days.
Skilled Nursing Facility Rates
Medicare pays for the first 20 days of a skilled nursing facility stay. The daily copay for your stay from 21 to 100 will be $194.50 in 2022. Fortunately, Medigap insurance and Medicare Part C Advantage plans will assist with these expenses. Regardless of the type of plan you pick, you’ll be able to reduce your financial risk substantially.
What are the Most Frequently Asked Questions about Medicare Part A?
How Can I Sign up for Medicare Part A Only?
Contacting the Social Security Administration website is the easiest place to enroll in Medicare Part A. You may also call social security at 800-772-1213.
What is the Difference Between Medicare Part A and Part B?
Medicare Part A is inpatient hospital coverage, while Medicare Part B provides outpatient medical services.
How Much Does Part A Medicare Cover?
Meet the eligibility requirements and have worked at least ten years or 40 quarters in the United States. You could be qualified for a $0 monthly Part A premium. Moreover, if you do not meet the criteria for premium-free Part A, you may have to pay up to $499 for Part A.
