When it comes to making the right Medicare decision, you first have to understand the basics of Medicare. There are two main parts of both Original Medicare and Medicare Advantage and that is Medicare Part A and Medicare Part B.
Learn more about Medicare Part B.
Part A covers things like:
- Hospital visits
- Skilled Nursing
- Home Health
- Hospice Care
Most of you won’t pay anything for your Part A premiums, because you or your spouse have prepaid this premium through 40 qualifying quarters.
If you or your spouse don’t have enough qualifying quarters, Part A can cost about $505 a month in 2024.
When you use Part A services, there are rules as to what you will pay and what you will cover. That includes the deductibles that apply.
The good news is, you likely don’t need to worry about these deductibles because most of you will more than likely have a Medicare Advantage plan or a Medigap plan to cover them.
It’s crucial to note that you have to have Part A to get the other parts of Medicare. Also, there are two unique things about Part A that I want to share.
1. While Part A does cover skilled nursing, these services are minimal.
There are specific requirements to get this care, and there’s also a limited amount of care provided. In particular, it is essential to know that it does not cover custodial care.
Therefore, if you need care to get dressed, bathed, or fed, Medicare will not cover it. They only cover medically necessary services.
2. If employer’s insurance after 65, you might be tempted to enroll in Part A anyway at 65.
While many of you can do this with no issues, please be aware that if you are contributing to a Health Savings Account at work, you will likely have a conflict. It’s critical to be mindful of how these rules interact with each other, so you don’t have any surprises.
As you may know, Medicare is complicated, and too many people make the wrong decision. This wrong decision can jeopardize your healthcare and your savings, and this is why people turn to The Medicare Coach.
The Medicare Coach is an independent expert. We are not associated with an insurance company, agent, or broker making our advice completely unbiased.
To get help with your decision, you can register for my next free online workshop by going here: https://join.themedicarecoach.com/free-workshop
