Understanding Medicare Parts A & B

Medicare Part A (Hospital Insurance)

• Medicare Part A covers inpatient hospital stays, skilled nursing care, hospice care, and some home health care.
• Part A does not usually have a premium, if you or your spouse paid Medicare taxes for 40 or more quarters.
• You will pay a deductible and a per day copay for days 61 and beyond, for each benefit period.

Part B (Medical Insurance)

• Covers certain doctor services, outpatient care, medical supplies, and preventive services.

• There is a standard monthly Part B premium, which is adjusted annually. If your modified adjusted gross income is above a certain amount, you may pay an additional fee called an Income Related Monthly Adjustment Amount (IRMA).

• You will pay an annual deductible, then 20% of the Medicare approved amount for most services.