Original Medicare (Parts A & B)

Around age 65 you have your Medicare Initial Enrollment Period (IEP). It is 7 months long and includes your 65th birthday month, the 3 months before and the 3 months after. During this time, you can enroll in Medicare Part A, Part B, Medicare Advantage (Part C) and Part D without penalty.

Original Medicare includes Part A and Part B. You can join a separate Medicare drug plan to get Medicare drug coverage (Part D). You can use any doctor or hospital that takes Medicare, anywhere in the U.S. To help pay your out-of-pocket costs in Original Medicare (like your 20% coinsurance), you can also buy supplemental coverage, like Medicare Supplement Insurance (Medigap), or have coverage from a former employer or union, or Medicaid.

Medicare Part A

One option you have when you enroll in Medicare is Medicare Part A coverage. Medicare Part A is sometimes referred to as “Hospital Insurance.”  Generally, Medicare Part A covers inpatient hospital care, hospice, home health services, skilled nursing facility care and nursing home care (as long as the only care you need isn’t custodial care). Some people automatically get Medicare Part A and those who don’t sometimes choose this option when they are still working and receiving health care benefits from their employer. You most likely will not have to pay a monthly premium for Medicare Part A if you or your spouse paid Medicare taxes while working.  For Medicare Part A, you could pay up to $499 each month in 2022. However, many people receive premium-free Part A. In many cases, if you choose Part A, you must also have Medicare Part B and pay monthly premiums for both.Part A (Hospital Insurance): Helps cover inpatient care in hospitals, skilled nursing facility care, hospice care, and home health care.

Medicare Part B

Medicare Part B is sometimes called “Medical Insurance” and covers medically necessary and preventive services. Things considered medically necessary to treat a disease or condition, like doctor visits, lab tests, and surgeries, fall under Medicare Part B coverage. It also covers supplies, such as walkers and wheelchairs. Some services might be covered only in certain situations. Medicare Part B does have a premium each month that you will have to pay. In some instances, your Medicare Part B premium may be deducted from your benefit payment.  The standard Part B premium amount in 2022 is $170.10, or more depending on your income level.