Medicare Part A
If you’re wondering how to enroll for Medicare Part A, what the cost is, and what services and treatments are covered, you’re in the right place. We, at Generations Insurance, have all the answers to your questions.
Medicare Part A Enrollment
When it comes to Medicare, there are a few things you need to know. For example, some people get Medicare automatically, whereas some have to sign up. You may need to sign up for Medicare if you’re 65 and not attaining social security.
There is a window for Medicare enrollment. For example, the window for signing up with Medicare is seven months long. It starts three months before you turn 65 and ends three months after you turn 65. You have this time to decide which coverage you want and how you want to sign up.
Remember, if you subscribe to Medicare Part B when you’re eligible, you can avoid a penalty. Penalties occur when you sign up after the window closes. Therefore, whatever the initial cost would be at that time, you would have to pay 10% more. Other than this, there is a specific time frame for when you change your coverage.
What Does Medicare Part A Cover?
There are certain things Medicare Part A covers, in general, these are few of the services included in this coverage.
- In-patient care in hospital
- Skilled nursing care
- Nursing home care (in-patient care in a skilled nursing facility that’s not custodial or long-term care)
- Hospice care
- Home health care
Cost Of Medicare Part A
Often people don’t pay to sign up for a monthly premium for Part A. If you purchase Medicare Part A, you’ll be paying up to $458 every month in 2020. If you’ve already paid Medicare taxes for less than 30 quarters, the standard premium for Medicare Part A would cost only $458. However, if you’ve paid Medicare taxes for 30-40 quarters, the premium would cost $252.
Keep in mind there are some deductibles:
- The deductible for each benefit period is $1,408
- Days 1-60 include $0 coinsurance per day
- Days 61-90 include $352 coinsurance per day
- Days 91 and moving forward include $704 coinsurance per day or a lifetime reserve day
Let Medicare Experts At Generations Insurance Help You
The different parts of Medicare can be very confusing for some. However, we at Generation Insurance are here to help you with whatever concerns you may have. If you have any questions or want to learn more about Medicare Part A, give us a call today.
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