Medicare Parts A & B - Original Medicare
Original Medicare is comprised of two parts — Part A and Part B.
Original Medicare does not cover 100% of the costs of your medical care for covered services. In fact, it covers only about 80% of the costs and does not cover your prescription drug costs. You must purchase a Medicare Part D plan for prescription drug coverage.
|What Part A Covers: Hospital Insurance||What Part B Covers: Doctor Insurance|
For most people, Part A does not have a monthly premium. You pay no premium if you or your spouse paid Medicare taxes while working for at least 10 years (or 40 quarters).
Part A coverage can be purchased if you don't qualify. Contact your local Social Security office for more information on purchasing Part A coverage.
You can also use Medicare’s eligibility tool to see if you will need to pay for Part A coverage.
|What Medicare Part A does NOT Cover|
There is a monthly premium for Part B coverage. For most people, the premium is $144.60, but can be more expensive based on your income and tax-filing status. Only about 5% of Medicare beneficiaries are required to pay more for Part B. Social Security has more information on the rules for higher-income beneficiaries.
Just like Part A, there are costs that Part B does not cover.
|What Medicare Part B does NOT Cover|
NOTE: These are 2020 Medicare Part A and Part B rates. Rates are subject to change each year.