MEDICARE BASICS

Part A

Hospital insurance, helps cover inpatient hospital care, skilled nursing care, hospice care and home health care. Most people do not have to pay premiums for Part A since it was earned by working and paying Social Security taxes.

Part B

Medical insurance, helps cover services from doctors and other outpatient health care providers, outpatient care, home health care, durable medical equipment and some preventive services. Most people pay a premium for Part B.

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Part C

Also known as Medicare Advantage, allows you to choose to receive all your health care services through a provider organization. These plans include all benefits and services covered under Part A and Part B, and usually include Medicare prescription drug coverage as part of the plan. They may include extra benefits and services for an extra cost. You must have Part A and Part B to enroll in Part C. Monthly premiums vary depending on your state and private insurer and whether you select a health maintenance organization or a preferred provider organization.

Part D

(Medicare prescription drug coverage) helps cover the cost of prescription drugs. Many people pay a premium for Part D. However, people with low income and few resources may qualify for extra help from Social Security to pay the premium and deductible.

Most people become eligible for Medicare at age 65. In 2022, the Part B monthly premium for most people is $170.10. Some high-income individuals pay more than the standard premium. Your Medicare Part B premium also can be higher if you do not enroll when you are first eligible, also known as your initial enrollment period. There also is a Medicare Part B deductible of $233.00 in 2022.

MEDICARE BASICS

Part A

Part B

Part C

Part D

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