WEDNESDAY, MARCH 2, 2016
Medicare part A on your Medicare card says hospital but what does it cover is the question?
Let's start with when it starts. Medicare part A starts the first day of the month that you turn 65 or when your social security disability starts.
Part A starts regardless if you are collecting your social security check or not.
Medicare part A is an entitlement to you. Medicare A is FICA tax supported so when you see Medicare on your pay stub you are paying into Medicare part A. Part B will be premium supported not tax supported.
Your entitlement starts once you have paid in 40 quarters which is ten year of Medicare and Social Security taxes or FICA tax paid in.
So what does it cover. Your Medicare card only says hospital on your Medicare card. So when you are hospitalized you have to pay your part A deductible which this year 2016 is $1288 which is for day one. This gives you hospital cover for the next 60 days. You are paying for the hospital facility charges. I say jokingly the bad food, fuzzy tv, and the lumpy beds. But we all know you have to pay separate for the TV.
Everything that they are doing to you medically at the hospital is being covered by part B not part A again you are just paying for the facility charges of the institution.
If you are still in the hospital past 60 days then you will start to pay per day for the next 30 days at a rate of $322 per day. If you are still in the hospital past day 90 you start to use your lifetime reserve days which you have 60 total of lifetime. Your lifetime reserve days run $644 per day, once you use these days you lose them but let's hope you are never in the hospital longer
then 90 days.
Medicare part A also covers skilled nursing care which let me start by saying that this is not nursing home care or long term care. This is translational care. There are some standards you have to meet to qualify for skilled nursing care. You have to of been in the hospital for at least three days. You have to enter the facility within 30 days of leaving the hospital. Most importantly you have to being showing daily signs of improvement to stay in this type of care. Days 1-20 are zero cost. Days 21-100 are $161 per day. You only have 100 days of care per incident.
Other services paid for by part A are hospice which is covered at zero cost and blood. The blood refers to pints of blood that you would need with a blood transfusion or during surgery. You would have to pay for the first three pints of blood. The cost of a pint of blood is a market rate which is all set with supply and demand. The range is between $130-150 per pint currently.
Medicare part A to most is zero cost because it was paid for will they were working. There are deductibles and coinsurance that come with Medicare part A.
For more information about Florida Medicare Supplements, give Sun Coast Legacy Advisors P.L. a call at 888-455-5799 today!
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