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Medicare premium changes by Senior Insurance Group

The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2013:

Medicare Premiums for 2013:

Part A: (Hospital Insurance) Premium

  • Most people do not pay a monthly Part A premium because they or a spouse has 40 or more quarters of Medicare-covered employment.
  • The Part A premium is $248.00 per month for people having 30-39 quarters of Medicare-covered employment.
  • The Part A premium is $450.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.

Part B: (Medical Insurance) Premium

Most beneficiaries will continue to pay the same $104.50 premium amount in 2013.  Beneficiaries who currently have the Social Security Administration (SSA) withhold their Part B premium and have incomes of $85,000 or less (or $170,000 or less for joint filers) will not have an increase in their Part B premium in 2013.  

If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher than $104.50 per month.  ]

Medicare Deductible and Coinsurance Amounts for 2013:

Part A: (pays for inpatient hospital, skilled nursing facility, and some home health care) For each benefit period Medicare pays all covered costs except the Medicare Part A deductible (2013 = $1,184) during the first 60 days and coinsurance amounts for hospital stays that last beyond 60 days and no more than 150 days.

For each benefit period you pay:

  • A total of $1184 for a hospital stay of 1-60 days.
  • $296 per day for days 61-90 of a hospital stay.
  • $592 per day for days 91-150 of a hospital stay (Lifetime Reserve Days).
  • All costs for each day beyond 150 days

Skilled Nursing Facility Coinsurance

  • $148.00 per day for days 21 through 100 each benefit period.

Part B: (covers Medicare eligible physician services, outpatient hospital services, certain home health services, durable medical equipment)

  • $147.00 per year. (Note: You pay 20% of the Medicare-approved amount for services after you meet the $147.00 deductible.)

Plan Specific Deductibles and Out-of-Pocket Limits

High Deductible Plan F Annual Deductible: $2,110

Plan K Annual Out-of-Pocket Limit: $4,800

Plan L Annual Out-of-Pocket Limit: $2,400

courtesy www.medicare.gov
This article was published on Friday 16 November, 2012.
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