Original Medicare (Part A & Part B)
Medicare is a health insurance program for:
- people age 65 or older,
- people under age 65 with certain disabilities, and
- people of all ages with End-Stage Renal Disease (permanent kidney failure requiring dialysis or a kidney transplant).
Original Medicare has:
Part A Hospital Insurance - Most people don't pay a premium for Part A because they or a spouse already paid for it through their payroll taxes while working. Medicare Part A (Hospital Insurance) helps cover inpatient care in hospitals, including critical access hospitals, and skilled nursing facilities (not custodial or long-term care). It also helps cover hospice care and some home health care. Beneficiaries must meet certain conditions to get these benefits.
Part B Medical Insurance - Most people pay a monthly premium for Part B. Medicare Part B (Medical Insurance) helps cover doctors' services and outpatient care. It also covers some other medical services that Part A doesn't cover, such as some of the services of physical and occupational therapists, and some home health care. Part B helps pay for these covered services and supplies when they are medically necessary.
The current standard monthly premium in 2024 for Part B is $174.70/month. This can be adjusted based on income. See 2024 Medicare Costs Fact Sheet for more details.
One thing to keep in mind with Original Medicare is that there is no maximum out of pocket if choosing only this option. Also, it does not include drug coverage. If you do not sign up for a Part D drug plan, you could face the Part D late enrollment penalty (even if you do not take any medications).
This information obtained from www.medicare.gov
By contacting the phone number on this website you will be directed to a licensed agent.