Medicare Part A 2020
When you sign up for or are enrolled in Original Medicare, you will receive coverage for both Medicare Part A and Medicare Part B. Those provide cover for essential, common medical expenses and services. Medicare Part A 2020 takes care of many inpatient healthcare services for you, and we want to to discuss what exactly it will cover, how much it will cost you and the different ways you can sign up for it.
Coverage under Medicare Part A
With a Medicare Part A plan, you will be covered for all sorts of medically necessary services. This can include hospital stays, hospice care, some home health services and skilled nursing care at a Medicare-approved facility.
Part A is going to cover you at a few different kinds of medical facilities. Of course, its coverage is valid at most hospitals. It can also be valid at hospice care centers, skilled nursing care facilities, mental care facilities, rehab centers, long-term hospitals and some clinics.
Medicare Part A is designed to provide essential medical services and those that are deemed as medically necessary by your doctor. Essentially, if they fall under Part A’s coverage and your doctor recommends that you have those services, then they should be covered by your Part A plan. If you decide to have one of these services administered without the recommendation of your doctor, then you will not be covered, in most cases.
Part A meets the requirements of the Affordable Care Act (ACA) for essential medical coverage. Under the Affordable Care Act, you are required to have a healthcare plan that covers certain medical expenses that are deemed medically necessary. Part A qualifies for that, and signing up for it will keep you from having to pay the tax penalty associated with not following ACA’s coverage guidelines.
The Cost of Medicare Part A
How much is this coverage plan going to cost you? The answer depends on a few different factors. You see, there is a monthly premium that you need to pay associated with this plan, and that could cost you as much as $437 a month. However, if you worked for anywhere between 30-39 quarters and paid Medicare taxes during that time, then you will only need to pay about half of that. In many cases, though, you don’t need to pay that premium at all. In fact, most people do not pay a premium on Medicare Part A. This would be considered a premium-free Medicare Part A plan and would generally occur if you were automatically signed up for the plan and didn’t have to purchase it or manually enroll in it.
You can be enrolled in Part A when you reach age 65 or even earlier, if you have a disability or end-stage renal disease. There are some other medical conditions that qualify for early eligibility, so be sure to check with us or with a Medicare agent if you would like to know whether you qualify for early enrollment.
Be sure to sign up for Part A once you become eligible, if you are not already automatically enrolled. This will ensure you don’t have to pay any fees for signing up late.
Another cost that you need to be aware of for Medicare Part A 2020 is the annual deductible. This is charged to you each coverage period, which is once a year, and it will cost you $1,364. You can avoid having to pay this if you have a Medicare Supplement plan that will cover you for that deductible, and most of the Supplement plans do provide that coverage. You can get Medicare Supplements through private insurance companies. It often costs less to have that deductible covered by one of the Supplement plans than it does to try to pay that for yourself, if you can use the other coverage provided by the Supplement policy.
How to Get Medicare Part A
In order to sign up for Medicare Part A, you first have to be eligible for it. The eligibility requirements are quite simple. They include being at least 65 years old and being a US citizen. There are exceptions to both of these requirements, however. You can be eligible before you are 65, if you meet certain health condition requirements. We mentioned some of these already. You can also be eligible if you have been a permanent resident of the United States for five consecutive years or more.
There are a few different way that you can obtain Part A. First of all, the most common method is simply by being automatically enrolled in this plan once you hit age 65. This happens with many people who do not have to pay a monthly premium.
Secondly, you could sign up for it one your own by purchasing the plan. You do this through Medicare, and you can do so once you meet the eligibility requirements that we have already discussed.
Thirdly, you could sign up for a Medicare Advantage plan. These are sold through private insurance companies, and they include coverage for all of Medicare Part A, save for hospice care, as well as for Part B, emergency medical services and urgently needed services. They can also include other coverage as well, but it is not required to be a part of the Advantage plan coverage.
Part A can be great for seniors who just want some basic coverage. It can cover essential medical services that are common to most seniors, so it makes sense for most people to have it as part of their healthcare protection. It can be combined with other coverage plans, such as Medicare Part B, Medicare Supplements and Medicare Part D.
If you get Medicare Part A 2020 included in a Medicare Advantage plan, then you will receive your hospice care coverage through Medicare still and the rest through your new private insurer. Please let us know if you have any questions about Part A or any other healthcare coverage policies.