Medicare Part A FAQs

Medicare Part A FAQs:

Handling Medicare can be difficult. We've done our damndest to make Medicare Plan A as simple as possible by addressing frequently asked questions.

How much does Medicare Part A cost?

  • For the vast majority of people, Medicare Part A is supplied at no cost regularly.

 

What does Medicare Part A cover?

  • Simply put, Medicare Part A covers hospitalization, rehabilitation treatment in a facility (up to 100 days in a care facility following a three-day hospital stay), and hospice care.

 

Who qualifies for Medicare Part A?

To be eligible for Part A, you must meet the following requirements:

  • You are already receiving Social Security or Railroad Retirement Board benefits.
  • You are eligible for Social Security or Railroad Retirement benefits but have yet to apply.
  • You or your spouse were employed by the government and qualified for Medicare.
  • It is extremely unlikely that anyone will have to pay a premium for Part A.

 

What are some things to consider when looking into Medicare Part A?

  • If you are still working and have an HSA-compatible program, enrolling in Part A (which is required and unavoidable if you begin drawing SS benefits) will preclude you from contributing to the HSA.
  • For example, if you work full-time and turn 65 in January, you can postpone registration for Medicare A while continuing to pay into your HSA account.
  • However, if you choose to draw monthly benefits and are automatically registered in Part A (or if you unintentionally enrol in Part A due to all the misconceptions about turning 65), you will no longer be capable of contributing to your HSA account.
  • With the prevalence of HSA plans at work, as well as among people working over the age of 65, this is becoming a more prevalent "error," and thus we recommend dealing with an expert to ensure you are properly directed!

When and how do I sign up for Medicare Part A?

  • If your employer does not provide an HSA-compliant plan, you can enrol in Part A in under 5 minutes at Get Me My Medicare.

Can I make Part A coverage changes during Open Enrollment?

  • Because Medicare Part A is a required component of all Medicare supplements, Medicare Part D, and Medicare Advantage programs, no changes to Medicare Part A would be made during the Medicare Annual Enrollment Period (which runs from 10/15 to 12/7).
  • Changing from a Medicare Supplement program to Medicare Advantage, for example, would not change the requirement to maintain Medicare Part A coverage.

Can Medicare Part A be cancelled?

  • Medicare Part A can be terminated in exceptional circumstances.

 

What are the Medicare Part A premiums?

  • If you opt to purchase Part A, you must also purchase Medicare Part B (Medical Insurance) and pay monthly rates for both. For more data on the Part A premium, contact Social Security.
  • Some people are automatically enrolled in Medicare Part A (Hospital Insurance).
  • If you do not even have an adequate work history under 40 quarters, you will have to pay a Part A premium.

 

 


By Sam Peterson | May 06 2022

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