Medicare Basics
Fully Automatic? Part A
Most people are automatically enrolled in Medicare Part A at age 65 if they are already receiving Social Security or Railroad Retirement benefits.
If you are not receiving these benefits, you will need to actively sign up through the Social Security Administration.
Part A covers:
Medically necessary inpatient care including:
Hospitalization
Extended Hospital Stays
Skilled Nursing Facility Care
Hospice Care
Home Health Care
Medicare Part A is premium-free if you or your spouse worked and paid Medicare taxes for at least 10 years (40 quarters). If you do not qualify for premium-free Part A, you may need to pay a premium.
Additional Costs:
Deductible:
Each benefit period (typically a year) resets the amount you need to pay BEFORE Medicare covers your cost.
Coinsurance:
You will be billed a daily coinsurance amount after a specified amount of days for extended stays, hospitals, and skilled nursing facilities.
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