What do I need to know about Medicare Parts A & B?
Lesson 1
Medicare Parts A and B are "Original Medicare." You get them through the federal government.
Medicare Part A = Hospital care
- Medicare Part A covers most hospital costs after you pay the first $1,632 (your "Part A deductible")
- At age 65 most people will automatically be enrolled in Medicare Part A
- Most people don't pay a monthly Part A premium because they paid for it through their payroll deductions
Medicare Part B = Medical services
- Medicare Part B covers 80% of the cost of doctor visits and everyday medical services after you pay the first $240 (your "Part B deductible")
- You should sign up for Part B as soon as you're eligible, or you could pay penalties later
- You'll also have a Part B premium to pay every month. The standard Part B premium amount is $174.70 (or higher, depending on your income).
