- Part A Hospital Insurance: Coverage includes hospitalization, nursing home facilities, Lab Tests, surgery, etc. If you or your spouse has 40 working credits in the United States, which means you have worked for ten years and paid Medicare taxes during that time, you will not have to pay this part of the monthly fee. Otherwise, you may have to pay up to $500+ in monthly fees. It is worth noting that you do not have to buy Part A, but if you want to buy Part A, you must also buy Part B.
- Part B medical insurance: Coverage includes medical services such as doctor visits. Regardless of whether Part A is waived or whether there are any work seasons, each red and blue card beneficiary must pay this part of the monthly fee, which will be adjusted to $185/month in 2025. However, if the annual income in the previous two tax years exceeds a certain amount, the premium will be higher. For example, if the taxable income is more than $500,000, the monthly Part B premium must be $500+. It is worth mentioning that you do not have to be a citizen or green card holder to apply for Part B. Non-citizens who are over 65 years old and have legally entered the United States and have lived in the United States for at least five years (lawfully admitted noncitizen, who has lived in The United States for at least five years) can apply to purchase, and there is no compulsion to purchase Part A.
- Medigap medical supplement insurance: The two core parts of Medicare above already cover most of the coverage, but there are still some healthcare services and medical supplies that are not covered by insurance, so Medicare adds a Medigap policy, which is sold by a private company certified by Medicare to help pay for the expenses that were not originally covered by Medicare, such as copayments, coinsurance, and deductibles.
- Part C Medicare Advantage Plan: Because the first two parts cover 80% of the cost, the remaining 20% requires the purchase of a supplementary insurance (Medigap) and the additional purchase of Part D, and the monthly payment is too high, Part C provides another low-cost option. Qualified medical plans in Part C must include the medical benefits of Part A and Part B, and some may also include Part D.
It’s complicated, it’s easier to understand with a diagram:
- Part D prescription drug plan: This part is outsourced by the government to private insurance companies. When choosing, pay attention to whether it covers your common medicines. In addition to the monthly fee, whether it is a generic drug or a brand name drug, you need to pay a copayment of several dollars.
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