This class provided an overview of the essential aspects of Medicare Parts A and B, helping you better understand the coverage, costs, and important enrollment periods. By learning about these foundational elements, you can make more informed decisions about your healthcare.

Key Takeaways and Next Steps:

Medicare Parts A and B coverage:

Part A covers inpatient hospital care, skilled nursing facility care, hospice care, and home health care. Part B covers services from doctors and other healthcare providers, outpatient care, durable medical equipment, and many preventive services.

Costs:

Most people don't pay a premium for Part A if they or their spouse paid Medicare taxes for a certain amount of time while working. Part B typically requires a monthly premium, and both parts may have additional out-of-pocket costs like deductibles and coinsurance.

Enrollment periods:

The Initial Enrollment Period (IEP) starts 3 months before your 65th birthday. There's also a General Enrollment Period (GEP) from January 1 to March 31 if you miss your IEP. Special Enrollment Periods (SEPs) are available for certain qualifying events, such as losing employer coverage.

Additional notes:

Late enrollment penalties may apply if you don't sign up when first eligible.
Original Medicare (Parts A and B) allows you to see any doctor or hospital that accepts Medicare anywhere in the U.S.
You can add prescription drug coverage (Part D) and supplemental coverage (Medigap) to Original Medicare.

Disclaimer: Always review your Medicare options annually and consult with a healthcare advisor if you have specific concerns or questions about your coverage.

References: