What’s the difference between Medicare Part A and Part B?
How do Medicare Part A (hospital insurance) and Part B (medical insurance) differ?
Medicare is divided into different parts, with Part A and Part B covering specific types of healthcare services. Understanding the difference between them can help you choose the right coverage for your needs.
Medicare Part A (Hospital Insurance):
Coverage: Part A helps cover inpatient hospital stays, care in a skilled nursing facility, hospice care, and limited home health care. This typically includes room and board, nursing services, and supplies related to your stay.
Cost: For most people, Medicare Part A is premium-free if you or your spouse paid Medicare taxes for at least 10 years (40 quarters). However, you may still be responsible for deductibles and coinsurance for services under Part A.
Eligibility: You are eligible for Part A when you turn 65, or earlier if you qualify due to a disability, End-Stage Renal Disease (ESRD), or Amyotrophic Lateral Sclerosis (ALS).
Medicare Part B (Medical Insurance):
Coverage: Part B helps cover doctor visits, outpatient services, preventive services (like screenings and vaccines), durable medical equipment, and some home health care services. It also covers mental health services and some therapy services.
Cost: Part B comes with a monthly premium, and you may also have to pay a deductible and coinsurance. The standard premium amount can vary depending on your income level.
Eligibility: You are eligible for Part B when you turn 65 or qualify due to a disability, and you can decide whether to enroll right away, especially if you have other health insurance, such as employer-sponsored coverage.
Together, Part A and Part B form what is commonly known as Original Medicare, which covers a wide range of hospital and medical services. However, for additional benefits like prescription drugs, dental, or vision coverage, you may need to explore Medicare Part D or a Medicare Advantage Plan.
If you have more questions or need help deciding which parts of Medicare to enroll in, schedule an appointment with a Tsunami Advisor here: Schedule an Appointment.
