What Does The Medicare Part A Cost?
Updated: Oct 5, 2020
When learning what your Medicare Part A will cost it’s important to keep in mind that cost can change each year. Provided below are comprehensive descriptions of what your Medicare Part A can cost.
Paying the Medicare Part A Premium?
A majority of the people don’t pay the Medicare Part A premium. As long as you or your spouse worked and paid Medicare taxes for a minimum of 10 years you are not required to pay the premium. However, if you or your spouse has not paid Medicare taxes for a minimum of 10 years, then you will be required to pay each month. As of 2020, the Part A premium can cost you almost $458 per month.
Medicare Part A – Deductible and Copay.
Medicare Part A does have a deductible that is charged per benefit period. For 2020, this deductible amount is $1,408. Keep in mind that:-
A benefit period starts on the day when you enter a hospital or a nursing facility for care and the period ends when you've been out for 60 consecutive days. It’s possible that during the duration of this time period you have been to the hospital more than once.
There is no limit on the number of benefit periods you can have.
For each benefit period you will be charged the $1,408 Part A deductible.
Medicare Part A also includes a copay for when you are in a hospital, skilled nursing facility, or in hospice. Do keep in mind that the copay and rules vary for each.
Medicare Part A – Hospital Copay.
Copays are determined by taking into account the number of days you’re in a hospital. Once you exceed 90 days, you begin to use your lifetime reserve days.
For 1 to 60 days your copay is $0 for each benefit period.
For 61 to 90 day your copay is $352 per day or each benefit period.
For Day 91 and further your copay is $704 per day up to 60 lifetime reserve days.
Beyond lifetime reserve days: you pay all costs
Medicare Part A – Skilled Nursing Facility Copays.
Copays are charged based on per benefit period and by the number of days you spend in the facility receiving care.
For 1 to 20 days your copay is $0 for each benefit period.
For 21 to 101 day your copay equals to $176 per day for each benefit period.
For Day 101 and further you have to pay all the costs.
Medicare Part A – Hospice Copays.
For hospice care, the Part A copays exist for the medications for pain and symptom management, durable medical equipment that is used in home, and for respite care.
Medication for pain and symptom management cost up to $5 per prescription.
Copays for durable medical equipment used at home are equal to 20% of the cost.
Copays for respite care are equal to 5% of the Medicare-approved amount.
To sum it all up, your Medicare Part A will vary based on your work and tax history and your overall healthcare needs throughout the year.
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