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Medicare Costs

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Medicare Parts A and B form the Original Medicare Plan, which serves as the foundation of healthcare coverage for millions of senior citizens in America. Contact your trusted Medicare insurance broker to understand how you can best apply for Medicare A and B.

Medicare Parts A and B provide comprehensive cover for your basic health necessities, whether as an inpatient or an outpatient. They provide essential benefits for hospital care and doctor visits, among many others.

We are aware that understanding your out-of-pocket costs for Original Medicare is not always easy. When you want to apply for your Part A and B Medical cover, consult Medicare Sharks, your trusted Medicare broker, to walk you through.



    Medicare Part A is the hospital insurance that helps cover your inpatient care costs in the hospital facilities. Part A Medicare also provides coverage in critical access hospitals and skilled nursing care facilities. However, this does not include custodial or long-term care. Medicare A also covers some home health care services and hospice care. Part B Medicare covers medically necessary services such as outpatient care, visits to the doctors, and other medical services, including preventive services.

    If you want to apply for Part A, you need to have Part B as well.


    You must meet certain conditions to access Medicare A and B benefits. Medicare A and B are available to all Americans 65 years and older, as well as individuals younger than 65 years old with specific disabilities. You can apply for Medicare  Part A and B if you meet these requirements:-

    • You are 65 years or older
    • You fulfill the U.S citizenship and residency requirements
    • You have been receiving disability benefits from Social Security or Railroad Retirement Board for at least 25 months.
    • You are receiving disability benefits because of conditions such as Amyotrophic Lateral Sclerosis (ALS), also known as Lou Gehrug’s disease.
    • You have end-stage renal disease (ESRD) and meet the specified requirements.

    If you or your spouse paid Medicare taxes for at least 10 years while working, then you are automatically eligible for premium-free Part A coverage.

    Suppose you need to meet the eligibility criteria for premium-free Part A coverage. In that case, you can apply and pay for Part A Medicare if you are 65 years or older, have enrolled or are in the process of enrolling in Part B, and have met the residency and citizenship requirements.

    If you are under 65 with a disability and your premium-free Part A coverage ended because you resumed work, you can also apply for Medicare A.

    In 2024, people who have to buy Medicare Part A pay premiums up to $505 each month. If you don’t buy Part A when you initially become eligible for Medicare (at 65), you might pay a penalty.

    When you apply for Medicare Part B in 2024, you are likely to pay a standard premium amount of 174.7. The premium rate may change depending on your income level. Apply for Medicare B and pay the standard premium if :

    • You have enrolled in Part B for the first time in 2024.
    • You don’t get Social Security Benefits.
    • You are directly billed for your Medicare Part B premiums
    • You have Medicare and Medicaid, and Medicaid pays your premiums.
  • If you apply for Medicare A and B, Medicare A costs entail the premium, the deductible, and the inpatient stays, which necessitate the copayments. The premium is $0 for most people because the majority pay this through Medicare taxes during their employment period. Still, you can apply for Medicare A and purchase the premium, but beware that you must sign for Part B to buy Part A.

    The deductible applies for each time that you are admitted to the hospital per the benefit period before Original Medicare begins paying for it. There is no limit to the number of benefit periods one can have.

    The copayment in inpatient stays varies with the number of days in the hospital stays. After day 150, you start paying for all your costs.

    Medicare Part B costs entail the premium, deductible, and coinsurance, which cover the costs for services.