What Does Medicare Part A Cost?
Medicare Part A covers medical services (like lab tests, surgeries, and doctor visits) and supplies (like wheelchairs and walkers) considered medically necessary to treat a disease or condition.
If you have worked for 10 years or more and paid medicare taxes, you will likely not have to pay any Medicare Part A premiums at all. Medicare Part A insurance can currently have a monthly premium of up to $413 for those who don’t meet the minimum work history requirements.
Medicare Part A – Coverage and Payments
In general, Medicare Part A covers:
- Hospital care
- Skilled nursing facility care
- Nursing home care (as long as custodial care isn’t the only care you need)
- Hospice stays or services, if you have 6 months or less to live.
- Home health services
While Medicare Part A covers the majority of expenses for medically necessary services, there is an initial deductible of $1,316 before any Medicare payments are made. After this deductible is met, you often pay about 20% of the Medicare-approved amount. This is for most doctor services (including services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.
After you’ve met your deductible, you are responsible for hospitalization coinsurance payments according to the following schedule for each benefit period:
- First 60 days, $0 coinsurance
- 61-90 days, $329 a day
- 91 and beyond, $658 a day (for a lifetime reserve of up to 60 days)
- After the 60 lifetime reserve days are used up, You pay all costs
Similarly, for skilled nursing facility care, coinsurance payments are:
- $0 coinsurance for days 1 to 20
- $164.50 each day for the 21st to 100th days
- You are responsible for all costs for days 101 and beyond