2008
Medicare Premiums,
Coinsurance and Deductibles
The
Centers for Medicare and
Medicaid Services (CMS) has
announced the new Medicare
premiums, deductibles, and
coinsurances. The standard
Medicare Part B premium is
increasing by 3.1 percent to
$96.40 a month, the smallest
increase since 2001.
The increase is lower than
previously expected in part
due to the correction of an
accounting error. Money for
certain hospice benefits had
been inadvertently drawn
from the Part B trust fund
rather than the fund that
pays hospital costs. In
addition, the lower premium
assumes that physicians will
take a 10 percent cut in
their reimbursement rates.
It is expected that Congress
will act to offset some of
or all of that pay cut,
meaning that future-year
premiums will reflect the
additional expense.
Here are the new Medicare
figures:
-
Part B premium:
$96.40/month (was
$93.50)
-
Part B deductible: $135
(was $131)
-
Part A deductible:
$1,024 (was $992)
-
Co-payment for hospital
stay days 61-90:
$256/day (was $248)
-
Co-payment for hospital
stay days 91 and beyond:
$512/day (was $496)
-
Skilled nursing facility
co-payment, days 21-100:
$128/day (was $124)
As
directed by 2003
Medicare law, for the
first time, higher
income beneficiaries
will pay higher Part B
premiums. Following are
the higher premium
rates:
-
Individuals with annual
incomes between $82,000
and $102,000 and married
couples with annual
incomes between $164,000
and $204,000 in 2008
will pay a monthly
premium of $122.20.
-
Individuals with annual
incomes between $102,000
and $153,000 and married
couples with annual
incomes between $204,000
and $306,000 in 2008
will pay a monthly
premium of $160.90.
-
Individuals with annual
incomes between $153,000
and $205,000 and married
couples with annual
incomes between $306,000
and $410,000 in 2008
will pay a monthly
premium of $199.70.
-
Individuals with annual
incomes of $205,000 or
more and married couples
with annual incomes of
$410,000 or more in 2008
will pay a monthly
premium of $238.40.
Rates differ for
beneficiaries who are
married but file a
separate tax return from
their spouse:
-
Those with incomes
between $82,000 and
$123,000 will pay a
monthly premium of
$199.70.
-
Those with incomes
greater than $123,000
will pay a monthly
premium of $238.40.
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