Updated: Aug 31
There are a lot of components to Medicare, and it can be confusing to know the differences between part A or part B. Hopefully, this article will help you understand the difference, and correctly inform you about Medicare.
Medicare Part A (Hospital Insurance).
Medicare Part A you don't usually pay a premium if you or your spouse paid Medicare taxes while working. This will often be called "premium-free Part A."
You're able to get Part A at 65 if you:
Already get benefits from Social Security.
If you're eligible for Social Security.
You or your spouse were government employed with Medicare-coverage.
For those under 65, you can get Part A if you:
if you have had Social Security disability benefits for 24 months
if you have End-Stage Renal Disease and meet requirements.
Medicare Part A -Hospital Coverage at a glance.
$341/day Days 61-90
$682/day Days 90+
Medicare Part A covers inpatient hospital care, skilled nursing facility, hospice, lab tests, surgery, home health care.
Medicare Part B (Medical/Doctors Insurance).
You pay a premium each month for Part B. Your premium will be automatically deducted from your benefit payment if you get benefits from sources such as these:
Railroad Retirement Board
Office of Personnel Management
Medicare Part B-Doctors coverage at a glance
80/20 co-insurance after that
Medicare Part B covers: Services from doctors and other health care providers, Outpatient care, Home health care, medical equipment, and preventive services.
Both Medicare part A and part B serve the purpose of Medicare, which is to provide basic health insurance to those age 65 and over, as well as to other specific qualified individuals. Medicare can still seem expensive at first glance with just part A and B. Luckily there are more than only these two parts. Medicare parts C and D are there to help further the purpose of Medicare.
Medicare Part C often helps with the cost of Medicare with Medicare Advantage plans, Medicare supplements, and Medigap plans. These plans will not only help with the cost of Medicare, but many of them will also provide specified benefits.
If you or anyone you know have further questions about Medicare Parts A and B, or are interested in Med Advantage, Med Supp, or Medigap plans, our agents would be happy to inform you and help you along your process of finding a Medicare plan that suits you.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.