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While any Medicare Part can be considered a must-have, the argument for Part A may be the most compelling. For many policyholders, it costs the least and saves the most. Part A is an integral feature of Medicare, and it is worth signing up for as soon as possible!
Medicare Part A covers hospitalization costs, as well as skilled nursing facility stays. If you’re admitted as an inpatient, your coverage starts as soon as you’ve paid your $1,484 deductible. Your plan covers everything from the treatments you get to your room and board.
Your coinsurance costs depend on where you are in the benefit period. Benefit periods start when you are admitted as an inpatient and end after you have gone 60 consecutive days without being an inpatient.
Here are the coinsurance costs based on the number of days spent at a hospital:
Part A also covers hospice and all of the services it offers. This includes doctor visits, pain-relieving medications, and durable medical equipment. It will also cover blood transfusions.
You must pay the Part A premium to keep it. But there’s also a chance you won’t have to pay it at all.
If you join during the Initial Enrollment Period (three months before your 65th birthday to three months after), you can qualify for premium-free Part A. But this also requires having worked as a US employee for a minimum of 40 tax quarters.
If you didn’t join during this time, and/or you did not work at least 40 tax quarters as a US employee, your monthly premium will be between $259 to $471.
Copayments also apply per visit.
Other types of Medicare coverage require having Part A and Part B together.
Medicare Advantage is a prime example. Part A is an integral piece to getting a plan that combines all forms of Medicare coverage, while also providing coverage for items like dental, vision, and hearing services, which are missing from Original Medicare.
You’ll also need it (along with Part B) to get a Medicare Supplement plan. This will help cover Part A costs, too, as it can help eliminate most (if not all) of your remaining out-of-pocket expenses.
And perhaps the best reason is getting it for the sheer fact that emergencies are unpredictable, costly, and devastating. Medical debt can be insurmountable, as evidenced by the fact that it’s the number one cause of bankruptcy in the US. But with Medicare Part A, medical debt can be the last thing on your mind.
At Health Care Solutions, we help individuals find their ideal Medicare policy every day. And since they are getting Medicare coverage from dedicated professionals, why not you? We’re here to help, and you’re already on your way to getting the Medicare insurance you deserve!