Michael M Insurance Blog

Medicare Part A

Mar 29, 2021 | 0 comments

Medicare Part A Hospital –
Most people have worked long enough and paid into the system to get their Part A Hospital coverage for Free. Others that come into the workforce late will have a premium. But, how much will they pay? That depends upon how long they paid in for. The Government benchmark is 40 quarters (10 Years) of taxable employment for Free Hospital A. For 2023 anything less will be as follows:
If you worked for-
30-39 Quarters– Your Part A Premium will be $278.00
29 Quarters or less– $506.00
Never worked– You can buy Part A for $506.00 per month.
Part A coverage is divided up into benefit periods that last 60 days. The breakdowns are as follows:
Days 1 – 60 Your responsibility will be a Copay in 2022 of $1600
This is a flat amount that will be paid whether you are in for 1 day, 60 days or anywhere in between. Using the Government reasoning, stay as long as you can, you’ll get more bang for the buck.
Days 61 – 90–  $400.00 Per Day
Well, that’s no fun. The good news is you probably won’t be there that long. Most of the time you will be moved to a Skilled nursing facility.
Days 91 – 150– $800.00 Per Day   
Not getting any better.
The good news is most Hospital stays are 1-3 days so the first scenario is the most common. The clock resets every 60 days so if you have to return for for something within 60 days of your stay you will not have to pay. If it is another issue you will. As a matter of fact, if there are multiple issues there will be multiple copays with No Cap on what you can spend which facilitates the need for Insurance to go with your Medicare.