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When is the best time to file for Medicare? - to read a useful article by Bankrate, Inc. in answer to this question click on the link below.
**Click Here** to be taken to Bankrate, Inc. article on when to file for Medicare.
- People 65 years
- Disabled individuals (24 consecutive months)
- People with End-Stage Renal Disease (ESRD)
- Spouses of eligible workers, certain divorced persons, widows and widowers, and dependents
Medicare consists of two parts:
- Part A - hospital insurance - helps pay for inpatient hospital, skilled nursing facility rehabilitation care and some home health care.
- Part B - medical insurance - covers physician services, outpatient hospital care, durable medical equipment, ambulance service and lab tests.
- Part A and Part B have deductibles and coinsurance (see below)
Eligibility is automatic if you are collecting Social Security retirement benefits. Part A is free if you have worked at least 10 years (40 quarters of Medicare-covered employment). Part B has a monthly premium.
What if you do not have 40 quarters? : = If you have not worked at least 10 years, you may be eligible to buy Part A coverage: For people having 30-39 quarters of Medicare-covered employment, they can pay a monthly premium to obtain coverage ($285/month). For people having less than 30 quarters of Medicare-covered employment, they may also obtain coverage for a higher monthly premuim ($518/month).
Part A - Medicare and Inpatient costs 2025 (Acute hospital care; limited coverage for skilled nursing home, hospice and home care. No private duty nursing, no TV and no telephone; private room only if medically necessary)
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Days
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Medicare Pays
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Patient Pays (Co-insurance)
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1 through 60
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Everything after deductible is paid
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Deductible of $1,676 is owed (no coninsurance)
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61 through 90
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Everything after Co-Insurance is paid
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Daily Co-Insurance of $419.00
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91 through 150 {life time reserve days - once per life-time} |
Everything after Co-Insurance is paid
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Daily Co-Insurance of $838.00
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151+
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Nothing
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All costs**
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$800/day while using your 60 lifetime reserve days |
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**Supplemental insurance or Medicaid can help cover these costs
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This coverage begins after a hospital-related medical stay for of 3 days of full admission to a hospital. (Ongoing coverage beyond the first 20 days is subject to patient's ability to benefit from continued therapy and exhibit medical improvement. When patient becomes a chronic care patient all Medicare coverage is discontinued)
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Days
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Medicare Pays
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Patient Pays
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1 through 20
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Everything
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Nothing
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21 through 100
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Everything after Co-Insurance is paid
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Daily Co-Insurance of $209.50
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101+
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Nothing
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All costs
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**Supplemental insurance can help cover these out-of-pocket costs or they can be covered by Medicaid,
if you are eligible.
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- Coverage of Skilled Care includes: Semi-pvt room, meals, skilled nursing care, PT, OT, Speech-language therapy, medical social services, medications, medical supplies, ambulance transport, dietary counseling.... and more.
(Limited coverage for physicians, outpatient services, diagnostic tests and durable medical equipment)
- Monthly Premium: $185 per month if yearly income is $103,000 or less, if income is greater than $103,000 and less than $129,000 the premium is $244.60/month. **Higher-income consumers pay more. If premium is dedicted from your Social Security check, then premium is reduced.
- Annual Deductible for Physician Services : $257.00/yr
**Click Here** to be taken to our page explaining Part D Medicare
To visit the official government Medicare web site click here to go to www.Medicare.gov.
To read an article about 10 things that Medicare will probably not cover CLICK HERE.