While Medicare Part A is known for covering hospitalization, many are unclear what that entails. Below is a list of what is covered through Medicare Part A.
Hospitalization: $1100 deductible annually for hospitalization Medicare Part A will pay the remainder of Hospital costs for 60 days after the deductible has been met. If your hospital visit extends past 60 days, Medicare part A will cover all the costs except $275 a day up to 90 days. If your hospital visit extends past 90 days, Medicare part A will cover all the costs except $550 a day up to 150 days After 150 days Medicare part A will pay nothing for the rest of the beneficiary’s life.
Skilled Nursing Facility: If a person has been hospitalized for more than 3 days, but requires further skilled nursing, Medicare Part A will cover up to 100 days in an approved facility. Up to 20 days in the facility Part A covers all expenses, from 21-100 days part A pays all but $137.50 a day. After 100 days it pays nothing.
Hospice Care: IF a person has been deemed by a doctor to live 6 months or less, Part A will cover all hospice care expenses except a small co-pay.
You can submit an application for Medicare supplemental insurance 6 months before you turn 65. There is a 6 month window from the day you turn 65 for 6 months following that is called the Open Enrollment Period. You must already be enrolled in Medicare Part B, but during this window you can qualify without any medical screening processes. It is ideal for those with previous health issues or pre-existing conditions. Do not miss out on this window, while you can still get a policy afterwards, it becomes much more difficult and the insurance companies can deny you coverage.
Medicare supplemental insurance rates depend on a few different factors depending on what state you live in. Most companies do have a lock in rate where your premium remains constant for 6-12 months. Because of the different variables that determine a policies rate change, it is best to speak with a Medicare Supplemental Insurance advisor. Fill out our free quote form to speak with one today!
See the chart below (effective June 1, 2010). Here’s how to read it:
If a checkmark appears in a column of this chart, the Medigap policy covers 100% of the described benefit. If a column lists a percentage, the policy covers that percentage of the described benefit. If a column is blank, the policy doesn’t cover that benefit. Note: The Medigap policy covrs coinsurance only after you have paid the deductible (unless the Medigap policy also covers the deductible).
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