Medicare Part A
Baren Associates
Medicare Part AHospitalization
The Specifics
With rare exception, most people enroll in Medicare Part A when they turn 65.* Part A is free if you have worked and paid into Medicare for at least 10 years during your lifetime.**
Medicare Part A covers your hospital-related healthcare expenses. However, Part A does not pay all of your hospital costs. You will have deductibles and co-insurance to pay. Part A also pays some of your rehabilitation costs and the first 20 days of skilled nursing care. Hospice care is also covered by Medicare Part A.
What it Doesn't Cover
First, there is a deductible of $1,632 per benefit period (and there could be more than one during a year).
Also, after 60 days in the hospital, you are responsible for a daily co-pay.
61-90 days - daily co-pay is $408.
91-150 days - daily co-pay is $816.
After 150 days - Medicare pays $0.
Medicare also doesn't cover the first 3 pints of blood you use. It will however, cover the balance of blood used.
The Solution
Clearly, there is a "gap" in the coverage Medicare provides. A prolonged hospital stay could be expensive. The best way to protect yourself is with the purchase of a Medicare Supplemental Insurance Plan (also called Medigap).
Medigap plans are offered by private Insurance companies. Currently there are 10 different Medigap plans being offered and each must adhere to the strict standards of coverage that are outlined by Medicare.
These same Medigap Supplemental Plans will also cover the "gaps" in your Medicare Part B coverage. We will assist you in choosing a Medigap Plan that best fits your needs and budget.
*There are certain conditions that would allow you to enroll in Medicare before age 65 such as ESRD (End Stage Renal Disease) and ALS (Lou Gehrig's Disease)
**If you are 65 and you have worked less than 10 years but, you worked at least 7.5 years, you can get Medicare Part A for a premium of $252 per month.
If you are 65 and have worked fewer than 7.5 years, you can still get Medicare Part A for a premium of $458 per month.