Medicare is a federal health insurance plan run by the Centers for Medicare and Medicaid Services. It covers health Insurance for three main populations: people 65 and older, younger people with disabilities, younger people with end-stage renal disease. There are multiple parts of Medicare, some that are mandatory and some that are optional. Read on to learn more about what Original Medicare covers.
Parts of Medicare
There are two main parts of Original Medicare. These are Parts A and B. Each part covers different services. There are also additional parts of Medicare, Parts C and D. These parts of Medicare are often thought of as optional and not traditionally part of Original Medicare. Today we will focus on Parts A and B.
Medicare Part A
Medicare Part A focuses on covering inpatient services. This means that part a covers healthcare costs associated with hospital stays and other inpatient stays. Part A specifically covers the services listed below:
- Inpatient hospital stays
- Skilled Nursing Facility Care
- Hospice Care
- Some Home Health Care
Part A is the only mandatory portion of Original Medicare. This means that everyone who signs up for Medicare will be enrolled in Part A. Fortunately, Part A is often free for anyone who has paid at least 10 years of taxes and is a US citizen or legal resident. This means that you will not have to pay a monthly premium for part day. However you are subject to the yearly deductible and certain out-of-pocket costs.
Medicare Part B
Medicare Part B is the part of Medicare that pays for outpatient costs. This means that Part B covers services such as doctor office visits, preventive health services, tests, and equipment. You can check out the specific things covered by Part B on our website.
Part B is technically optional, but it is often a requirement for other parts of Medicare. Specifically, you must be enrolled in Part B in order to enroll in Medicare Advantage Plans or Medicare Supplement plans. Part B does have a monthly premium, which is $148.50 in 2021.
What is not covered by Parts A and B
While Original Medicare is comprehensive, it does not cover everything that patients need.One major category of medical needs that Parts A and B do not cover are prescription medications. Other parts of Medicare, like Part D and Medicare advantage plans, do cover prescriptions for an additional monthly premium. Parts A and B also do not cover hearing, vision, or dental healthcare costs. Certain Medicare advantage plans do cover these costs, but the specific details depend on the plan.
Understanding the details of Medicare can be confusing. Contact us today to learn more about which parts of Medicare are best for your health goals.