Medicare Part A (hospital insurance)
Medicare Part A is part of traditional Medicare. It covers costs if you are admitted to a hospital, a skilled nursing facility, or hospice. It also covers some home health services. The three basic groups that qualify for this coverage include people over age 65, the disabled, and those with end-stage kidney disease.
With Part A, you'll pay:
- A deductible each year. This is how much you have to spend before Medicare starts to pay its part.
- Coinsurance. This is your part of the costs for hospital care after you've met your deductible.
If you or your spouse paid Social Security taxes while working for at least 10 years, you won't pay a monthly fee to have Part A. That's called "premium-free Part A." If you didn’t work and pay taxes for 10 years, you can still purchase Medicare Part A, however, premiums can be as much as $407 per month.