Medicare Part A is Hospital Insurance
Medicare Part A helps cover inpatient hospital care, some skilled nursing facility care, hospice care, and some home health care.
Most people qualify for Premium-free Part A. However, Part A services may be subject to out-of-pocket costs copays, coinsurance, or deductibles.
Luckily some people will qualify for Part A cost assistance based on income via state-based Medicare Savings Programs.
For those that have to pay, however, it is worth noting that Part A is subject to a late enrollment penalty. This means if you don’t enroll when you are first eligible your premium may go up by 10% for twice the number of years you didn’t sign up!
What Part A Covers. Medicare.Gov.
Part A late enrollment penalty. Medicare.Gov.
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More Facts on Medicare
Since January 1, 2023, Part D plans can’t charge you more than $35 for a one-month supply of Part D-covered insulin. You also don’t have to pay a deductible for your insulin.
Most people are not automatically enrolled in Medicare Part A and Part B and have to sign up during their Initial Enrollment Period. The following are exceptions: If you’re already getting benefits from Social Security or the Railroad Retirement Board (RRB). If you’re under 65 and have a disability. If you have ALS (amyotrophic lateral sclerosis, also called Lou Gehrig’s disease). Meanwhile, Puerto Rico, has special rules for Medicare Enrollment.
Medicare Part A, Part B, and Part D all have late enrollment penalties for not signing up when you first become eligible. However, with Part A, penalties only apply to those who must pay a Part A premium. Please note each late enrollment penalty has its own rules.
Medicare Advantage plans in certain states and counties may include the Medicare Give Back Benefit. When you enroll in a Medicare Advantage plan that offers the Part B Give Back Benefit, the plan’s carrier will reimburse you for a portion of your monthly Part B premium via your Social Security check.