Medicare Parts A and B cover a wide range of medically necessary services and equipment. For an in-depth itemization, please visit Medicare.gov, or refer to the “Medicare and You” Handbook that CMS publishes every year. The following is a brief outline of the most common items that Medicare covers.
Medicare Part A
Medicare Part A covers inpatient hospital stays, hospice, skilled nursing facilities, and home health care.
Medicare Part B
Medicare Part B covers outpatient and inpatient Medicare approved professional services most commonly doctors services. It also covers durable medical equipment like wheelchairs and therapeutic medications like some of the medications used for chemotherapy.
Medicare’s Out Of Pocket Costs
Medicare covers a lot, but it doesn’t include everything. Out of pocket costs refer to the portion of the cost of your health care that you pay. It’s generally in the form of a deductible, copay, or coinsurance.
Medicare Part A Hospital Coverage
Part A covers inpatient hospital stays, skilled nursing facility stays, and hospice. When formally admitted to the hospital there is a deductible of $1,340 for the first 60 days of a continuous hospital stay. Days 61-90 have a copayment of $335 per day, and days 91-150 have a copayment of $670 per day. After day 150 you are responsible for all costs.
Skilled Nursing Facility
Part A will cover 100% of the first 20 days of your stay at a skilled nursing facility, days 21-100 will have a copay of $167.50 per day. After 100 days you pay all costs.
Medicare Part B Medical Coverage
Part B has an annual Deductible of $183. Medicare Part B will then pay 80% of your Part B covered services and equipment, and you are responsible for the remaining 20%.
Outpatient Prescription Drugs
Medicare Part A and B does not cover outpatient prescription drugs
