Hot off the press, changes for 2008:
|
Medicare's Out-of-Pocket Costs |
|||
|
. |
2006 |
2007 |
2008 |
|
Medicare Part A Hospital Deductible |
$952 |
$992 |
$1,024 |
|
Medicare Part B Deductible |
$124 |
$131 |
$135 |
|
Medicare Part B Premium* |
$88.50 |
$93.50 |
$96.40 |
|
Hospital Days 61-90 Copayment |
$238 |
$248 |
$256 |
|
Hospital Days 91-150 Copayment |
$476 |
$496 |
$512 |
|
Skilled Nursing Facility Care Days 21-100 Copayment |
$119 |
$124 |
$128 |
|
Plan K Annual Out-of-Pocket Limit |
$4,000 |
$4,140 |
$4,440 |
|
Plan L Annual Out-of-Pocket Limit |
$2,000 |
$2,070 |
$2,220 |
*May be subject to higher premiums based on annual income level
Medicare 2008
The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2008:
Medicare Premiums for 2008:
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 $410.00 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:
$96.40 per month.
Medicare Deductible and Coinsurance Amounts for 2008:
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 (2008 = $1024) 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 $1024 for a hospital stay of 1-60 days.
- $256 per day for days 61-90 of a hospital stay.
- $512 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
- $128 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, after an annual deductible of a $135. You pay 20% of the medicare approved amount for services after you meet the $135 annual deductible.
More Information About Medicare
Go to the official Medicare website for quick answers and information.
