Medicare Parts A and B
Medicare Parts A and B are part of the federal government’s standard health plan for people age 65 or over, people under 65 with certain disabilities and people of any age with End-Stage Renal Disease (ESRD) (permanent kidney failure requiring dialysis or a kidney transplant).
Medicare works the same way throughout the U.S. with any provider that accepts Medicare patients. Parts A and B each help to pay for several types of medical costs, but they don’t cover everything.
In this section, you will learn “the basics” about what Medicare is and how the various parts of Medicare work. With this important information, you’ll be ready to make confident decisions about your Medicare coverage.
To get an idea of the coverage provided by Medicare Parts A and B, take a look at the information below.
Medicare Parts A and B Pay:
- Most fees for covered stays in the hospital except the Part A deductible and cosinsurance amounts.
- About 80% of Part B covered doctor and outpatient medical expenses ( after the annual deductible is met).
- The Part A premium if required, deductible and coinsurance amounts that apply
- Usually a Part B monthly premium
- The remaining Part B out-of-pocket expenses
- Part B annual deductible
- If you purchase additional coverage such as a Medicare Supplement/Medigap plan or an Advantage plan your costs will be reduced or eliminated. Keep in mind, Advantage plans do have large out of pocket expenses.