Description: This passage is mainly about healthcarefirst login. In this passage, we can know what Medicare is, who runs Medicare as well as the four parts of Medicare. We can know who qualifies and who doesn’t qualify it.
This is Michael Ferraro here. I’d like to explain Medicare Part A and Part B. So what is Medicare? Medicare is a health insurance for people who are 65 and older, under 65 with certain disabilities, and I should say if you have end-stage renal disease, which is also known as ESRD.
Who runs Medicare? Medicare is administered by the Centers for Medicare and Medicaid Services, which is also known as CMS. Enrollment is done by the Social Security Administration for most people, or it’s administered by the railroad retirement board for any railroad retirees.
Now there are four parts of Medicare. You have your Part A, which is your Hospital insurance, your Part B which is medical insurance, Part C which is also known as Medicare Advantage plans, such as your HMOs and your PPOs. Part D is going to be your Medicare prescription drug coverage.
You also have options of Medicare supplement plans, which is also known as Medigap plans. Today we’re going to talk about Part A and Part B, which are Original Medicare. So what is Part A? As we mentioned, Part A is hospital insurance. It’s going to help pay for things, such as an overnight hospital stay, including your room, tests, doctor fees and food that you got and you’re going to have to eat now.
If you pay for it into your Social Security for ten years, you pay taxes for ten years, Part A comes with no monthly premium, and you’re going to automatically be enrolled. Otherwise you’re going to have to sign up to get the Part A benefits.
You may have to pay for a monthly premium. If you become eligible for Part A, you don’t sign up, and try to sign up at a later date, you may have to pay some penalties, so keep that in mind.
Part B is going to be your medical insurance, this is going to help pay for your doctor visits, your outpatient care, home health services, durable medical equipment and other medical services. Part B is also going to pay for your preventive services. Most people have to sign up for Part B, and it is going to come with a monthly premium as it is now.
That monthly premium is a hundred and four dollars and ninety cents a month, they make it easy for you, where you can opt to have that 104 90 taken directly out of your social security check each month.
So what does Medicare Part A pay for? As you can see, you’re going to be responsible for the first one thousand and two hundred sixty dollars of your hospital visit. So if you are admitted in the hospital, you’re going to pay for 1260 dollars, in days sixty one to ninety, you’re going to pay three hundred fifteen dollars per day, in days 91 to 150, you’re going to pay six hundred and thirty dollars per day.
If you’re there longer than 150 days, there’s going to be no coverage that you’re going to have to pay. You’re going to pay it out of your own pocket, if you need skilled nursing or rehabilitation, that will be covered.
For you days one through twenty, you’re going to pay nothing, and then for days twenty one through a hundred, you’re going to pay one hundred fifty seven dollars per day, if you need a longer than one hundred days, that cost is going to be completely up to you.
So as you can see, we’re starting to expose some holes and some gaps with Medicare Part A and Part B. So what does Medicare Part B going to pay for? You’re going to have 147-dollar deductible, so you’re going to be responsible for the first one hundred forty seven dollars, once you meet that deductible of $147.
Medicare Part B will pay for eighty percent, and you’re going to be responsible for twenty percent. So as you can see, there are holes and there are gaps, there are ways to fill those holes and gaps. So keep in mind that Medicare does not cover everything.
If you need certain services, that aren’t covered under Medicare Part A or Part B, you are going to have to pay for them, unless you have a Medicare supplement plan emetic, which is also known as Medigap plan.
You may have Medicaid to cover other costs that Part A and Part B don’t cover, or you may be on a Medicare Advantage plan that will cover some of those costs. So I’m sure that you may have some questions. That’s why I’m here, but I’d like to thank you for reading.
I appreciate your time if you find this information useful, and someone who might benefit from speaking with me, I’d be happy to help them. Please pass along my name and number. It’s Michael Ferrara, I’m at eight one five two five four zero three four zero.
We specialize on it, we focus on education. So we’re going to help educate you, so you can make the best choice and find the best plan that fits your Medicare needs. Thank you again for reading. I hope you have a great day. Thank you so much.