I am going to retire soon. Can you give me some basic info on Medicare Part A?
Part A is hospital insurance. Most Americans get this at no cost. You should sign up for this as soon as you are eligible. There is a $1,600 deductible for each hospital visit in 2023.
Generally, Part A covers 80 percent of an inpatient hospital stays after the deductible.
When you sign up for Part A, you also sign up for Part B which covers doctor and outpatient care. A fee for this is deducted from your Social Security check.
You will also have a choice to sign up for a Medicare Advantage plan instead of Original Medicare (Part A and B). This is private insurance that covers at least as much as Medicare, but could be less expensive.
Allyson Good curates senior living, health, and family content. She is formerly the Managing Editor of Active Life, a print newspaper published in 2016-2017 for seniors, choosing practical articles on health, money, safety, and everyday living for older readers. She is also an avid gardener and offers up Garden Hints and Tips on a regular basis.
