Pearson Health Advisors

Original Medicare is made up of Part A & Part B. When you turn 65, you will need to sign up for Original Medicare before signing up for a Supplement or Advantage Plan. You can sign up three months before your 65th birthday, the month of your birthday, or three months after your birthday. As long as you are signed up, your Medicare will start the first of the month of your 65th birthday.

You will receive a red, white, and blue Medicare card that will comprise both your Part A Hospital Insurance and your Part B Medical Insurance. Part A covers inpatient hospitalization. The premium is typically $0 as long as you or your spouse have worked 10 years or 40 quarters. You will be responsible for a $1657 deductible per benefit period which is day 1-60 of being hospitalized. Each benefit period is 60 days and depending on the times you are hospitalized throughout the year you may need to pay the benefit period deductible multiple times. After 60 days straight of being in the hospital you will pay a daily copay for each day after.

Part B is medical insurance which covers things like doctor visits, outpatient surgery, labs, and ambulance rides. You are responsible for a $185 premium every month for your Part B. For any Medicare services covered under Part B, Medicare will pay 80% and you will pay the remaining 20% of any bill. There is no maximum out of pocket which can prove to be a problem if, for example, you would have large outpatient surgery bills. For this reason, you should also have a supplement or an advantage plan to help cover these gaps in coverage.