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What Is Original Medicare? | FAQ

FAQ

  • What is Original Medicare?
    Original Medicare includes Parts A and B. Part A covers inpatient hospital stays, skilled nursing, and a portion of hospice care. Part B covers physician and outpatient care. Both Part A and B are required to enroll in a Medicare Advantage plan or Medicare Supplement.
  • What are my premiums for Original Medicare?
    Part A will be no cost for someone turning 65 who has paid Medicare taxes for 40 quarters. Part B premium is $174.70 monthly in 2024.
  • What are my deductibles and coinsurance for Original Medicare?
    You pay $240 per year in 2024 for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved charges. Medicare Part A inpatient hospital deductible is $1,632 for each stay. This deductible covers you for the first 60 days. After 60 days, inpatient hospital costs $408 days 61-90. Days 91 and beyond: $816 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime).
  • What is Medicare Part D?
    Medicare Part D is what pays prescription drugs. Usually drugs will be broken down into tears based on cost, generic, or brand. Part A OR part B is required to enroll in Part D. You do not have to have both to enroll in prescription Part D
  • What is Medicare Part C?
    Medicare Part C is also known as Medicare Advantage. Medicare Advantage plans are offered by private insurance companies and they pay a fixed fee for your care at doctors and hospitals in the plan’s approved network. Many times Part D is included in a Medicare Advantage plan, and additional benefits such as dental, vision and even health club memberships may be included. Premiums tend to be much lower than a Medicare Supplement plan.
  • What are the two options for Medicare covage when I am turning 65?
    In general, you can pick one of two options for Medicare coverage when you are turning 65, or if you currently have original Medicare (Part A+Part B) Medicare Advantage or Medicare Part C (combines all parts of Medicare into one) Medicare Supplement with a stand alone Medicare part D plan (prescription coverage) See flow chart attached.
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"Medicare simplified"

  • What is Original Medicare?
    Original Medicare includes Parts A and B. Part A covers inpatient hospital stays, skilled nursing, and a portion of hospice care. Part B covers physician and outpatient care. Both Part A and B are required to enroll in a Medicare Advantage plan or Medicare Supplement.
  • What are my premiums for Original Medicare?
    Part A will be no cost for someone turning 65 who has paid Medicare taxes for 40 quarters. Part B premium is $174.70 monthly in 2024.
  • What are my deductibles and coinsurance for Original Medicare?
    You pay $240 per year in 2024 for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved charges. Medicare Part A inpatient hospital deductible is $1,632 for each stay. This deductible covers you for the first 60 days. After 60 days, inpatient hospital costs $408 days 61-90. Days 91 and beyond: $816 coinsurance per each "lifetime reserve day" after day 90 for each benefit period (up to 60 days over your lifetime).
  • What is Medicare Part D?
    Medicare Part D is what pays prescription drugs. Usually drugs will be broken down into tears based on cost, generic, or brand. Part A OR part B is required to enroll in Part D. You do not have to have both to enroll in prescription Part D
  • What is Medicare Part C?
    Medicare Part C is also known as Medicare Advantage. Medicare Advantage plans are offered by private insurance companies and they pay a fixed fee for your care at doctors and hospitals in the plan’s approved network. Many times Part D is included in a Medicare Advantage plan, and additional benefits such as dental, vision and even health club memberships may be included. Premiums tend to be much lower than a Medicare Supplement plan.
  • What are the two options for Medicare covage when I am turning 65?
    In general, you can pick one of two options for Medicare coverage when you are turning 65, or if you currently have original Medicare (Part A+Part B) Medicare Advantage or Medicare Part C (combines all parts of Medicare into one) Medicare Supplement with a stand alone Medicare part D plan (prescription coverage) See flow chart attached.
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