There are several parts of Medicare available to those eligible to enroll, and since Medicare doesn’t cover every expense, it’s important to understand what each part covers.
Part A
Medicare Part A is one-half of the Original Medicare plan and is considered to be your hospital insurance. There are several services covered under Part A:
- Inpatient Services: All the care and services you receive while admitted as an inpatient will be covered. You will pay $0 for coinsurance for the first 60 days of each benefit period. If you are still admitted after 60 days, then you will pay a daily coinsurance of $371 in the benefit period. After 91 days, you will pay a $742 coinsurance per each “lifetime reserve day” for each benefit period. The lifetime reserve days equal up to 60 days over your lifetime. If you go beyond the lifetime reserve days, you will be responsible for all costs.
- Skilled Nursing Facility (SNF) Care: Your room, board, medications, wound care, tube feedings, and other services are covered and will be covered for up to 100 days of each benefit period.
- Home Health Care: Part A will begin providing coverage if, within 14 days of receiving home care, you were admitted as an inpatient for at least three consecutive days.
- Hospice Care: This will be covered for as long as it is deemed necessary by your provider.
As far as costs are concerned, Part A is premium-free for most people who have paid up to 40 quarters of Medicare taxes while they were employed. If you have paid between 30 and 39 quarters, you will have a premium of $259. If you have paid less than 30 quarters, you will have a premium of $471.
Part B
Medicare Part B is the second half of the Original Medicare plan and is considered your medical insurance. There are several services covered under Part B:
- Outpatient Services
- Durable Medical Equipment
- Home Health Care
- Ambulance Services
- Preventative Services
- X-rays
- Lab Tests
- Certain prescriptions, such as immunosuppressants and others that your physician deems necessary
Part B has a standard premium of $148.50, but it can be higher if you have income in a higher bracket. Part B also has a deductible of $203.
Part C
Medicare Part C is also called Medicare Advantage. These plans cover everything that Original Medicare covers, but also include additional coverage for:
- Dental, vision, and hearing
- Fitness memberships
- Wellness programs
- Nutrition programs
- Adult daycare services
- Transportation for doctor visits
- Services for individuals with chronic conditions
Many Part C plans also have a $0 premium, but as of 2021, the standard Part C premium can be $21. You will also have to pay your Part B premium while enrolled in a Part C plan.
Part D
Part D provides coverage for prescriptions. Generally, Part D plans include coverage for all prescriptions in the categories of:
- Antipsychotics
- Antidepressants
- Anticancer treatments
- Anticonvulsants
- Immunosuppressants
- HIV/AIDS drugs
Part D plans do not cover drugs used for cosmetics, fertility treatments, weight loss or weight gain medications, and over-the-counter drugs.
The average premium for Part D in 2021 is $30.50. Some plans may also have a deductible of $445, but others can waive the deductible entirely.
Supplement Plans
Medicare Supplement plans are great options to consider when enrolled in Original Medicare and need most, if not all, of your out-of-pocket expenses covered. There are 10 Medicare Supplement plans: A, B, C, D, F, G, K, L, M, and N. They each cover a certain percentage of these services:
- Part A Coinsurance & Hospital Costs
- Part B Coinsurance or Copayment
- First 3 Pints of Blood for Transfusions
- Part A Hospital Care Coinsurance or Copayment
- Skilled Nursing Care Facility Coinsurance
- Part A Deductible
- Part B Deductible
- Part B Excess Charges
- 80% Foreign Travel Emergency Care
Need Help Choosing?
At Eldridge Agency, we understand how important it is to find a Medicare plan that fits all your needs. To learn more about your Medicare options in the Reno, NV, area, give Eldridge Agency a call today at (775) 328-1197.
