Part A, often referred to as hospital insurance, is the part of Medicare that helps cover inpatient hospital costs when you are formally admitted to the hospital under doctor’s orders. It also provides benefits such as:
If you or your spouse has worked and paid into Medicare taxes for 40 quarters, which is 10 taxable years, you most likely will not have to pay a monthly premium for your Part A. You can also receive Part A premium free if:
If you are under age 65, you can get Part A premium free if:
If none of these circumstances apply to you and you have to pay a premium amount for your Medicare Part A your premium amounts for 2022 will be:
The deductible amount for each benefit period is, $1556
The co-insurance amounts for an in-patient hospital stay in 2022 have also changed:
If you are a patient in a skilled nursing facility, your copay is:
Part B of Medicare, sometimes called Medical Insurance, covers medically necessary services such as:
The standard premium amount is $170.10 a month for 2022, however this amount could be higher depending on your income.
Here is some information about Part B you will want to note: