Sunday, March 3, 2013

A Brief Overview of Medicare Part A And B

 
Medicare came into being in 1965 when then US President Lyndon Johnson signed Title XVIII, an
amendment to the Social Security Act into law in order to provide individuals aged 65 or older with health insurance. Additionally, younger individuals with disabilities or those suffering with end stage renal disease were also covered. Originally, the program was Medicare Part A and B with "A" being hospitalization coverage and "B" covering medical expenses (i.e. doctor's visits) and required medical equipment.

Medicare Part A - Hospital Insurance

Covers hospitalization which includes staying overnight on an in-patient basis. It includes being in a semi-private room, your food, and any tests that have to be administered. It also covers staying in a skilled nursing facility to recuperate from injuries or surgeries provided the individual has met specific criteria (the breakdown of those criteria is available at the Medicare website). Part A also has a deductible of $1,184 (as of 2013) and it's important to remember this is a "per benefit period" deductible rather than an annual deductible.

Part A covers up to 100 days maximum when staying in a skilled nursing facility while the maximum stay is 90 days for in-patient hospital stays. Additionally, individuals requiring hospice care and are suffering with a terminal disease and who have 6 months or less to live are also covered under Medicare A. Covered treatment includes medications, pain relief, and symptom control.

Medicare Part B - Medical Insurance

Some medical products and services that are not covered under Part A will be covered under Part B usually for out-patient purposes. Part B is a deferrable option provided the beneficiary or their spouse is still employed and is receiving employer-provided healthcare coverage. Part B coverage goes into effect once the person has paid their $147 deductible (as of 2013). From that point on, Medicare covers 80% of approved expenses while the individual is responsible for the remaining 20%. Many people look for a Medicare Supplement Plan to cover what Part A & B does not cover.

How Medicare Part A And B Differ

Aside from the aforementioned general breakdown of Medicare Part A and B, there are other differences between the two. In addition to hospitalization and the coverages above, Part A includes blood transfusions and home health services. Part B covers other aspects that Part A does not. Occupational and physical therapy as well as out-patient care are usually covered under Medicare Part B.

Medicare Part A and B will have certain benefits that may apply to your circumstances, depending on the health coverage you need. For more information regarding Medicare Part A and B, you are welcome to visit the official Medicare website.

Summit Medigap is an independent insurance agency that specializes in Medicare supplement insurance. We make Medicare seem easy™. For more information about Medicare supplement insurance visit http://www.SummitMedigap.com/ or call us at 1-888-40-Summit (888-407-8664).

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