![]() You’ll pay this deductible each time you become an inpatient at a hospital or skilled nursing facility, assuming that 60 days have passed since your most recent discharge. ![]() Part A will take care of the first 60 days of your stay, but you’ll pay $389 per day starting on day 61. After that, you’ll be responsible for $778 if you have any of your 60 lifetime reserve days left. Once those are exhausted, you will pay the full price for each day of your visit. The first thing to understand is the Part A deductible, which is $1,556 in 2022. (Premiums and deductibles usually change each year.) An important thing to note about the Part A deductible is that you might have to pay it more than once a year. ![]() It applies to each “benefit period,” which begins on the first day of your hospitalization and ends 60 days after you’ve been discharged.Īs you can see, your out-of-pocket costs with Part A can add up quickly. The good news is that most beneficiaries receive premium-free Part A. As long as you or your spouse has worked and paid taxes for 40 quarters, you are eligible for premium-free Part A. The second part of Original Medicare is Part B, your outpatient insurance. Like with Part A, you’ll have a deductible and coinsurance expenses. The Part B deductible is currently $233 per year. After that, Part B has cost-sharing on an 80/20 split – Medicare pays 80%, and you pay 20%. An important thing to know is that neither Part A nor Part B has out-of-pocket limits. That means that there is no limit on what you might be responsible for in a given year. ![]() Part B comes with a standard premium of $170.10. While the majority of Medicare beneficiaries pay this standard amount, you could pay more if you earned a high income within the last couple of years. However, if you don’t enroll as soon as you’re eligible, you might pay a penalty when you do decide to apply. If you have other credible coverage in place, like through an employer-sponsored plan, you can postpone enrollment without penalty. Part B covers quite a few things, including preventive services, doctor visits, surgeries, diagnostic tests, durable medical equipment, and more. Medicare Advantage plans are also called Medicare Part C. They’ve become popular in recent years and continue to attract more beneficiaries every year. ![]()
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