What Does Part A Cover?
Medicare Part A is sometimes referred to as “hospital insurance.” In general, Medicare Part A covers hospital care, skilled nursing facility care, nursing home care (as long as custodial care isn’t the only care you need), hospice, and home health services.
How Much Does Part A Cost?
Part A includes a monthly premium; however, most people do not have to pay this. You can get “premium-free” Part A if you or your spouse paid Medicare taxes while working for at least 10 years (40 quarters).
If you do not qualify for premium-free Part A, the monthly premium in 2019 is $437. You can find more details about the Part A premium here.
There are additional costs you can expect to pay for various types of care, like if you go into the hospital or require skilled nursing. Here are the details:
- $1,364 deductible for each benefit period
- Days 1-60: $0 coinsurance for each benefit period
- Days 61-90: $341 coinsurance per day of each benefit period
- Days 91 and beyond: $682 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
- Beyond lifetime reserve days: all costs
Expert tip: If you are planning to work beyond age 65, there are important things you need to know about Part A, like how it could impact your Health Savings Account if you have one. Be sure you are aware of these things before making any decisions or changes.