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Tag: Medicare Part A

  • What are your Medicare premiums in 2024?

    What are your Medicare premiums in 2024?

    Medicare only covers about half of a typical person’s health care costs. People with Medicare generally pay a monthly Medicare Part B premium, more than 20 percent of their medical and inpatient costs out of pocket (or through Medigap or Medicaid,) as well as most or all of the cost of dental, vision, hearing and long-term care services. Medicare Part B premiums and other out-of-pocket costs are rising in 2024. Here’s what you need to know.

    Part B premiums in 2024:
    In 2024, people whose modified adjusted gross income from two years ago as reported on their federal tax return is $103,000 or less pay a monthly Part B premium of $174.70, an increase of $9.80.

    People with incomes above $103,000–about eight percent of the Medicare population–pay a Medicare Part B premium of:

    • $244.60 a month, if their income is above $103,000 and no more than $129,000.
    • $349.40 a month, if their income is above $129,000 and no more than $161,000.
    • $454.20 a month, if their income is above $161,000 and no more than $193,000.
    • $559 a month, if their income is above $193,000 and less than $500,000.
    • $594 a month, if their income is $500,000 or more.

    For couples with combined incomes of $386,000 or less two years ago, filing a joint tax return, the premium amount doubles. Couples filing jointly with annual incomes above $386,000 and less than $750,000 each pay a $559 monthly premium. And, couples with annual incomes of $750,000 and above each pay a $594 monthly premium. Visit this CMS web site for your Part B premium amount if you are filing separate returns.

    Medicare Part B annual deductible: $240, an increase of $14 from the annual deductible of $226 in 2023.

    For more than four decades, the Medicare Part B premium (medical insurance) was the same for everyone regardless of income, geography or health status, a quarter of the cost of Part B services. (Medicare Part A, hospital insurance, is premium-free if you have contributed into Social Security for at least 40 quarters.)  In 2007, wealthier people with Medicare began paying higher premiums.

    Here are 2024 Medicare Part A costs:

    • There is no Medicare Part A premium if you or your spouse are among the 99 percent of people with Medicare who have at least 40 quarters of coverage.
    • The Medicare Part A premium, if you or a spouse has at least 30 quarters of coverage, is $278 a month, the same as in 2023; if you don’t have at least 30 quarters, the premium is $505 a month, a $1 decrease from 2023.
    • The Medicare Part A inpatient hospital deductible is $1,632, in 2024 an increase of $32 from 2023, and  coinsurance for hospitalizations after day 60 is $408 a day in a benefit period; coinsurance for lifetime reserve days is $816 a day.
    • The Medicare Part A daily coinsurance for skilled nursing facility stays after day 20 is $204, an increase of $4.00 from $200 in 2023.

    Extra Help paying your Medicare premiums and out-of-pocket costs: People with low incomes and assets have help paying these costs through Medicaid and the Medicare Savings Program. You should apply through your Medicaid office, if you think you might be eligible.

    Here’s more from Just Care:

  • 2023: Medicare premiums and other costs

    2023: Medicare premiums and other costs

    The Medicare Open Enrollment period begins on October 15 and ends on December 7, so you will have several weeks to review your Medicare options for 2023. Particularly if you have Medicare Part D drug coverage or are enrolled in a Medicare Advantage private plan–a health plan offered by a corporate health insurance company–reviewing your options could save you a lot of money. Your Medicare Part B premium will be slightly lower in 2023, regardless of whether you are enrolled in traditional Medicare or a Medicare Advantage plan.

    In 2023, the standard monthly Medicare Part B premium, which covers medical and outpatient care, is $164.90, a monthly decrease of $5.20 from $170.10, for people with annual incomes of $97,000 or less in 2021. In addition, you will get a Social Security increase of around nine percent. The exact increase will be announced shortly.

    In 2023, people whose modified adjusted gross income from two years ago as reported on their federal tax return–about seven percent of the Medicare population–pay a Medicare Part B premium of:
    • $230.80 a month, if their income is above $97,000 and no more than $123,000.
    • $329.70 a month, if their income is above $123,000 and no more than $153,000
    • $428.60 a month, if their income is above $153,000 and no more than $183,000
    • $527.50 a month, if their income is above $183,000 and less than $500,000
    • $560.50 a month, if their income is $500,000 or more

    For couples with combined incomes of $366,000 or less two years ago, filing a joint tax return, the premium amount doubles. Couples with annual incomes above $366,000 and less than $750,000 each pay a $527.50 monthly premium. And, couples with annual incomes of $750,000 and above each pay a $560.50 monthly premium. Visit this CMS web site for your Part B premium amount if you are filing separate returns.

    Medicare Part B annual deductible: $26, a decrease of $7 from the 2022 annual deductible of $233.

    If your income is low, you may qualify for help paying your premium and sometimes also your deductibles and coinsurance through the Medicare Savings Programs: People with incomes up to 135 percent of the federal poverty level, ($1,549 in monthly income for an individual and $2,080 for a couple in 2022; these amounts may increase in 2023) are eligible for help paying their premiums through Medicaid or a Medicare Savings Program.

    For more than four decades, the Medicare Part B premium (medical insurance) was the same for everyone regardless of income, geography or health status, a quarter of the cost of Part B services. (Medicare Part A, hospital insurance, is premium-free if you have contributed into Social Security for at least 40 quarters.)  In 2007, wealthier people with Medicare began paying higher premiums.

    Here are 2023 Medicare Part A costs:

    • There is no Medicare Part A premium if you or your spouse have at least 40 quarters of coverage.
    • The Medicare Part A premium, if you or a spouse has at least 30 quarters of coverage, is $259 a month; if you don’t have at least 30 quarters, the premium could be $471 a month.
    • The Medicare Part A inpatient hospital deductible is $1,600, in 2023 an increase of $44 from 2022, and  coinsurance for hospitalizations after day 60 is $400 a day in a benefit period; coinsurance for lifetime reserve days is $800 a day.
    • The Medicare Part A daily coinsurance for skilled nursing facility stays after day 20 is $200.00, an increase of $5.50 from $194.50 in 2022.

    If you have Medicare and are 36 months post kidney transplant, you are no longer eligible for full Medicare coverage. But, beginning in 2023, you can elect to continue Part B coverage of immunosuppressive drugs if you pay a premium. In 2023, the immunosuppressive drug premium is $97.10.

    Medicare Part D premiums

    Premiums for Part D prescription drug coverage vary by income and by Part D plan. The premium is generally deducted from your Social Security check. People with annual incomes at or under $97,000 do not pay an additional income-adjusted premium amount.

    If your annual income is above $97,000, you will be charged between $12.20 and $76.40 a month extra. The extra amount is based on how much higher than $97,000 your income is, with a cap at $750,000.

    Insulin

    Beginning July 1, 2023, you will pay no more than $35 a month out of pocket for insulin. If you take insulin through a pump you get through Medicare, you will have no deductible.

    Here’s more from Just Care:

  • Medicare: 2020 facts and figures

    Medicare: 2020 facts and figures

    Today, Medicare covers 65 million older and disabled Americans. What does that mean for the US budget, national health care spending and the future of Medicare? A new Kaiser Family Foundation interactive, the facts about Medicare spending, takes a deep dive into the 2020 data.

    One in five Americans now have Medicare. And, although people with Medicare use three times more health care services than younger people, Medicare represents 20 percent of national health care spending. Traditional Medicare, which covers slightly more than half of the Medicare population is extremely cost-effective, with less than two percent of its budget going towards administrative costs. In sharp contrast, Medicare Advantage plans take 15 percent of their budget for administration and profit.

    About one-eighth of the federal budget–$769 billion–covers Medicare costs. In 20 years, those costs have almost quadrupled. And, projections are that Medicare costs will double in the next ten years because the Medicare population is growing, as are health care costs. By 2060, there will be 93 million people with Medicare.

    What does Medicare cost per enrollee? Each person with Medicare cost an average of $14,400 in 2020, up from $5,800 in 2000.

    Why is Medicare growing so much? People are living longer. There are more people 80 and older, and, by 2060, they will represent one-third of the population over 65.  Today, they represent about one-fourth the population over 65. Of note, the percentage of people over 90 will double, from 5 percent of those over 65 today to 10 percent in 2060. (The Kaiser paper does not speak to the high cost of Medicare Advantage, which has already cost Medicare over $100 billion more than traditional Medicare and is projected to cost an additional $600 billion over the next nine years.)

    Where is Medicare spending highest? Today, nearly half of all Medicare spending (48 percent) happens under Medicare Part B for outpatient services. Inpatient services under Medicare Part A represent 40 percent of Medicare spending. Prescription drugs represent the remaining 12 percent.

    Medicare Advantage spending is growing faster than traditional Medicare, eating into the Medicare Trust Fund. Today, the government spends about four percent more per person in Medicare Advantage than in traditional Medicare.

    How much are people with Medicare spending out of pocket? People with Medicare are spending a lot more out of pocket than they used to. Over the last 2o years, out-of-pockets costs have gone from about 15 percent of the average Social Security benefit to 19 percent. Medicare premiums represented 6 percent of people’s average Social Security benefit in 2002; they now represent 10 percent.

    Consequently, people with Medicare–most of whom rely heavily on Social Security to make ends meet in retirement–have increasingly less to spend on other necessities.

    The Part A Trust Fund, which pays for inpatient care, is projected to stop being able to pay full benefits as of 2026. At that point, it will only be able to cover 91 percent of those benefits, unless Congress steps in, which it has always done.

    Here’s more from Just Care:

  • What are Medicare premium and other costs in 2022?

    What are Medicare premium and other costs in 2022?

    The Medicare Open Enrollment period ends on December 7, so you still have time to review your Medicare options for 2022. Particularly if you have Medicare Part D drug coverage or are enrolled in a Medicare Advantage private plan–a health plan offered by a corporate health insurance company–it could save you a lot of money. Your Medicare Part B premium is rising regardless of whether you are enrolled in traditional Medicare or a Medicare Advantage plan.

    In 2022, the standard monthly Medicare Part B premium, which covers medical and outpatient care, is $170.10, a monthly increase of $21.60 from $148.50, for people with annual incomes of $88,000 or less in 2021. Your Social Security increase should cover that cost and, for most people, provide an additional $70 a month in benefits.

    Social Security benefits in 2022 will be up an average of nearly six percent from this year, around $90 a month. Some of that increase will go towards the higher Medicare monthly premium.

    In 2022, people whose modified adjusted gross income from two years ago as reported on their federal tax return–about six percent of the Medicare population–pay a Medicare Part B premium of:
    • $238.10 a month, if their income is above $91,000 and no more than $114,000.
    • $340.20 a month, if their income is above $114,000 and no more than $142,000
    • $442.30 a month, if their income is above $142,000 and no more than $170,000
    • $544.30 a month, if their income is above $170,000 and less than $500,000
    • $578.30 a month, if their income is $500,000 or more

    For couples with combined incomes of $330,000 or less two years ago, filing a joint tax return, the premium amount doubles. Couples with annual incomes above $340,000 and less than $750,000 each pay a $544.30 monthly premium. And, couples with annual incomes of $750,000 and above each pay a $578.30 monthly premium. Visit this CMS web site for your Part B premium amount if you are filing separate returns.

    Medicare Part B annual deductible: $233, an increase of $30 from the annual deductible of $203 in 2021.

    People with incomes up to 135 percent of the federal poverty level, ($1,456 in monthly income for an individual and $1,960 for a couple in 2020; these amounts may increase in 2021) are eligible for help paying their premiums through Medicaid or a Medicare Savings Program.

    For more than four decades, the Medicare Part B premium (medical insurance) was the same for everyone regardless of income, geography or health status, a quarter of the cost of Part B services. (Medicare Part A, hospital insurance, is premium-free if you have contributed into Social Security for at least 40 quarters.)  In 2007, wealthier people with Medicare began paying higher premiums.

    Here are 2021 Medicare Part A costs:

    • There is no Medicare Part A premium if you or your spouse have at least 40 quarters of coverage.
    • The Medicare Part A premium, if you or a spouse has at least 30 quarters of coverage, is $259 a month; if you don’t have at least 30 quarters, the premium could be $471 a month.
    • The Medicare Part A inpatient hospital deductible is $1,556, in 2022 an increase of $72 from 2021, and  coinsurance for hospitalizations after day 60 is $389 a day in a benefit period; coinsurance for lifetime reserve days is $778 a day.
    • The Medicare Part A daily coinsurance for skilled nursing facility stays after day 20 is $194.50, an increase of $9.00 from $185.50 in 2020.

    Here’s more from Just Care:

  • Coronavirus: Medicare Trust Fund has reserves until 2026

    Coronavirus: Medicare Trust Fund has reserves until 2026

    Every year, Trustees of the Medicare Trust Fund project when the Trust Fund will not have the money needed to pay full Medicare Part A inpatient benefits. Notwithstanding the coronavirus pandemic, their 2021 projection remains the same as last year, 2026. And, Congress could and should act to shore up the Trust Fund.

    A brief Medicare primer. About 63 million older adults and people with disabilities receive health insurance coverage through Medicare. Medicare has two primary funding sources, payroll contributions and general taxes. Payroll contributions cover the cost of Medicare Part A inpatient services. Fewer people used these services in 2020 because of COVID-19.  So, even though fewer people were working and making payroll contributions, Part A remains as strong as last year.

    It’s worth noting that the Medicare Part A Trust Fund has never had its reserves depleted. And, over the last 55 years, the Part A Trust Fund reserves have fluctuated wildly. Back in 2010, Congress gave it a large injection of capital, when it passed the Affordable Care Act and imposed an additional Medicare tax on the wealthiest Americans.

    It’s also important to recognize that if the Part A reserves were to run out, Medicare Part A would still be able to cover 91 percent of projected benefits in 2026. And, if employment rises, payroll contributions will increase. Therefore, it’s more likely that the trust fund will build more reserves.

    Last year, the Part A Trust Fund lost between $60 billion and $134 billion because of loans extended to providers and suppliers to help with COVID-19 payment disruptions. The Trust Fund should get this money back this year and next.

    One critical way to strengthen the Trust Fund is for Congress to stop overpaying Medicare Advantage plans. By one expert account, if Congress does nothing, these plans will be overpaid as much as $355 billion in the next ten years. These overpayments are also driving up Medicare Part B premiums. Congress must trim the fat in Medicare Advantage.

    In addition to the Part A Trust Fund, Medicare has a Supplemental Medical Insurance Trust Fund that covers 75 percent of outpatient care under Medicare Part B. The Medicare Part B premium covers the remaining 25 percent.  And there is a Trust Fund that covers prescription drugs under Medicare Part D.

    The Medicare Part B and D Trust Funds have the money they need to cover outpatient and drug benefits. General revenues cover these expenses, so money never runs out.

    Here’s more from Just Care:

  • Strengthening Medicare Trust Fund must be a priority

    Strengthening Medicare Trust Fund must be a priority

    Almost from its inception, the Medicare Trust Fund has been at risk of running out of money. The life of the Trust Fund has fluctuated tremendously over the last several decades. Whenever necessary, Congress has stepped in to keep Medicare strong. Given the new Congressional Budget Office projection that the Trust Fund will run out of funding in 2024, President-elect Joe Biden should prioritize Congressional action to strengthen the Medicare Trust Fund once again.

    The Medicare Trust Fund covers most of the cost of inpatient services under Medicare Part A. Every working American pays a small percentage of their earned income into the Medicare Trust Fund, which their employers match. When they become eligible for Medicare, if they have contributed to the Trust Fund for at least 10 years, they receive Part A coverage premium-free. They are responsible only for out-of-pocket costs, deductibles and copays. (People with Medicare contribute about 25 percent of the cost of outpatient services in monthly premiums under Medicare Part B. General tax revenues cover the remaining costs.)

    In 1975, the Medicare Trust Fund was projected to have a 24-year life, writes David Muhlestein in the Health Affairs blog. Seven years later, it was projected to be exhausted in five years. A decade after that, it had just four years of funding. But, Congress took action and, in 2002, the Trust Fund again had a projected life of more than two decades, 28 years.

    With the passage of the Affordable Care Act in 2010, the Trust Fund received a new injection of funding from higher payroll contributions of people with high incomes. At that time, it was projected that the Trust Fund had 19 years before exhaustion. But, as things evolved and, now, with the pandemic and a high unemployment rate, the Trust Fund is receiving less money than projected. Consequently, the Congressional Budget Office again has revised its estimate of when the Trust Fund will be exhausted to 2024.

    It is not clear what will happen if the Medicare Part A Trust Fund is depleted in 2024, and we do not want to find out. People will continue to pay in. But, that money will cover only about 83 percent of the cost of inpatient care. Unless Congress acts, beginning in 2024, CMS will either have to delay payments to Part A health care providers until money comes in or adjust their rates down to 83 percent of negotiated rates. Either way, the providers are sure to sue for the full amount they are due or stop treating people with Medicare.

    What’s crystal clear is that President Biden will need to work closely with Congress to arrive at a solution to shore up the Medicare Trust Fund.

    Here’s more from Just Care:

  • What are Medicare premium and other costs in 2021?

    What are Medicare premium and other costs in 2021?

    The Medicare Open Enrollment period ends on December 7, so you still have time to review your Medicare options for 2021. Because the process is not fun, nearly 60 percent of people with Medicare do not review their options. But, particularly if you have Medicare Part D drug coverage or are enrolled in a Medicare private plan–a health plan offered by a corporate health insurance company–it could save you a lot of money. Regardless of whether you are enrolled in traditional or a Medicare private plan, you must pay a Medicare Part B premium.

    In 2021, the standard monthly Medicare Part B premium, which covers medical and outpatient care, is $148.50, a monthly increase of $3.90, from $144.60, for people with annual incomes of $88,000 or less in 2019. Your Social Security increase should cover that cost.

    Social Security benefits in 2021 will be up an average 1.3 percent from this year, around $20 a month. Some of that increase will go towards the higher Medicare monthly premium. Because Congress limited the amount the 2021 standard Medicare Part B premium could rise in Covid-relief legislation earlier this year, most people will have about $16.10 more a month after paying the standard Medicare Part B premium.

    In 2021, people whose modified adjusted gross income from two years ago as reported on their federal tax return–about six percent of the Medicare population–pay a Medicare Part B premium of:
    • $207.90 a month, if their income is above $88,000 and no more than $111,000.
    • $297.00 a month, if their income is above $111,000 and no more than $138,000
    • $386.10 a month, if their income is above $138,000 and no more than $165,000
    • $475.20 a month, if their income is above $165,000 and less than $500,000
    • $504.90 a month, if their income is $500,000 or more

    For couples with combined incomes of $330,000 or less two years ago, filing a joint tax return, the premium amount doubles. Couples with annual incomes above $330,000 and less than $750,000 each pay a $475.20 monthly premium. And, couples with annual incomes of $750,000 and above each pay a $504,90 monthly premium. Visit this CMS web site if you are filing separate returns.

    Medicare Part B annual deductible: $203, an increase of $5 from the annual deductible of $198 in 2020.

    People with incomes up to 135 percent of the federal poverty level, ($1,456 in monthly income for an individual and $1,960 for a couple in 2020; these amounts may increase in 2021) are eligible for help paying their premiums through Medicaid or a Medicare Savings Program.

    For more than four decades, the Medicare Part B premium (medical insurance) was the same for everyone regardless of income, geography or health status, a quarter of the cost of Part B services. (Medicare Part A, hospital insurance, is premium-free if you have contributed into Social Security for at least 40 quarters.)  In 2007, wealthier people with Medicare began paying higher premiums.

    Here are 2021 Medicare Part A costs:

    • There is no Medicare Part A premium if you or your spouse have at least 40 quarters of coverage.
    • The Medicare Part A premium, if you or a spouse has at least 30 quarters of coverage, is $259 a month; if you don’t have at least 30 quarters, the premium could be $471 a month.
    • The Medicare Part A inpatient hospital deductible is $1,484, an increase of $76 from $1,408 in 2020, and daily coinsurance for hospitalizations after day 60 is $371 a day in a benefit period; coinsurance for lifetime reserve days is $742 a day.
    • The Medicare Part A daily coinsurance for skilled nursing facility stays after day 20 is $185.50, an increase of $9.50 from $176 in 2020.

    Here’s more from Just Care:

  • Your projected Medicare benefits and costs in 2021

    Your projected Medicare benefits and costs in 2021

    We’re in the midst of the annual Medicare Open Enrollment Period, but we still don’t know what Medicare costs will be in 2021. We do know, however, that Congress has limited the amount Medicare Part B premiums can increase. As a result, Medicare costs should not go up a lot in 2021.

    The standard Part B premium likely will increase. The standard premium was projected to increase to $153.30 from $144.60 a month. But, Congressional legislation likely will limit the increase to less than $2.50 a month.

    However, if your annual income is $88,000 or more, your Part B premium is likely to increase even more. The Part B deductible will also likely increase several dollars from $198.

    The Part A premium, deductible and coinsurance will also be higher. The deductible to be paid at the start of a Part A hospital benefit period is projected to be $1,452 in 2021, up from $1,408. Supplemental coverage you get through the private insurance market or through a former employer or Medicaid, generally pays some or all of this cost.

    If you’re in a Medicare Advantage plan, a private insurance plan that offers Medicare benefits, you are still responsible for paying the Medicare Part B premium. On top of that, if you need a lot of costly care, your out-of-pocket costs could be as high as $7,550 in 2021, for in-network care alone. In addition, you will have a deductible and copays for your drugs.

    The standard Part D prescription drug plan will have a deductible of $445 in 2021. You will need to spend $6,550 before you receive catastrophic coverage. You will be responsible for 25 percent of the cost of your drugs until then. Once you reach the catastrophic coverage level, you will be liable for no more than 5 percent of the cost of your drugs.

    If you have diabetes and need insulin, some plans will offer insulin with a maximum $35 out-of-pocket monthly cost. However, the premiums for these plans are likely to be higher.

    If you are new to Medicare, you will have the choice of a range of Medigap plans, supplemental coverage that fills gaps in Medicare. But, the two most popular plans, C and F, will no longer be available. Instead, you will have a choice of D and G. Unfortunately, you may be locked into a Medicare Advantage plan if you are currently enrolled in one. Your ability to buy supplemental coverage if you want to switch to traditional Medicare may be restricted, depending upon the state you live in and your health status.

    Here’s more from Just Care:

  • What’s the Medicare premium in 2019?

    What’s the Medicare premium in 2019?

    The 2019 standard monthly Medicare Part B premium, which covers physician services and other medical and outpatient care, will increase from $134.00 to $135.50, up $1.50 a month for people with incomes of $85,000 or less. But, many people with Medicare have been paying less than the standard premium. In 2019, these people may see a $5.50 increase in their Part B premiums.

    A “hold harmless” provision in the Social Security Act protects people from paying more in Medicare premiums than the increase in their Social Security monthly benefits from one year to the next. Because Social Security benefits have not increased as fast as the standard Medicare Part B premium, many people with Medicare have not been paying the standard premium. But, Social Security checks are projected to rise by 2.8 percent in 2019. So, people who now pay about $130 a month for the Medicare Part B premium because of the hold harmless provision may no longer be protected from paying the full standard monthly Part B premium.

    Since Social Security benefits are increasing 2.8 percent on average in 2019, an average of $39 a month, Medicare monthly premiums can increase up to 2.8 percent –$135.5o a month maximum–for everyone with Medicare who had been protected by the “hold harmless” provision. Put differently, the majority of people who had been paying less than the standard Part B Medicare premium will see their monthly Part B premium rise more than $1.50; but, for most people, their monthly Social Security check, even after the Medicare premium is deducted, should be at least $30 higher than in 2018.

    In 2019, people whose modified adjusted gross income from two years ago as reported on their federal tax return–about six percent of the Medicare population–pay:

    • $189.60 a month, if their income is above $85,000 and no more than $107,000 ($2.10 increase from 2018)
    • $270.90 a month, if their income is above $107,000 and no more than $133,500 ($3.00 increase from 2018)
    • $352.20 a month, if their income is above $133,500 and no more than $160,000 ($3,90 increase from 2018)
    • $433.40 a month, if their income is above $160,000 and less than $500,000 ($4.40 increase from 2018)
    • $460.50 a month, if their income is above $500,000 ($27.10 increase from 2018)

    To arrive at the premium amount for married people filing a joint tax return, double the income.

    The 2019 Part B annual deductible is $185, up $2.00 from 2018.

    People with incomes up to 135 percent of the federal poverty level, ($1,386 in monthly income for an individual and $1,872 for a couple in 2018; these amounts may increase in 2019) are eligible for help paying their premiums through Medicaid or a Medicare Savings Program.

    For more than four decades, the Medicare Part B premium (medical insurance) was the same for everyone regardless of income, geography or health status, a quarter of the cost of Part B services. (Medicare Part A, hospital insurance, is premium-free if you have contributed into Social Security for at least 40 quarters.)  In 2007, wealthier people with Medicare began paying higher premiums.

    Here are 2019 Medicare Part A costs:

    • The Part A hospital deductible is $1,364 and coinsurance for hospitalizations after day 60 is $341 a day in a benefit period; coinsurance for lifetime reserve days  is $682 a day.
    • The Part A daily coinsurance for skilled nursing facility stays after day 20 is $170.50.

    Here’s more from Just Care:

  • What Medicare covers

    What Medicare covers

    In order to plan for your care as you get older, it is good to know what Medicare covers and what it does not cover. You can then budget for your out-of-pocket costs. Because Medicare generally does not provide full coverage and does not cover some high-cost services, annual out-of-pocket health care costs with Medicare average $5,500. And, if you need to pay for long-term care services, unless you have Medicaid as well as Medicare, your costs will likely be much higher.

    Services Medicare covers: Medicare Part A–which is generally premium-free if you or your spouse paid Medicare taxes–covers hospital, skilled nursing facility, skilled rehabilitation facility, hospice and other inpatient services. Medicare Part B–which has a standard monthly premium of about $134, though people with higher incomes pay more–covers medical services from doctors, therapists and other Medicare-certified health care providers, along with medical equipment and supplies. (To be enrolled in traditional Medicare or a commercial Medicare Advantage plan, you need Medicare Parts A and B.) Medicare Part D–which has a monthly premium that varies depending upon the plan you choose–covers prescription drugs and is optional.

    Note: People who enroll in a commercial Medicare Advantage plan also have Medicare Part C.

    Click on the links below to learn more about Medicare’s benefits and the services it does not cover.

    Keep in mind that some costly services are expressly excluded from Medicare coverage.

    Services Medicare does not cover:

    If you qualify for Medicaid as well as Medicare, Medicaid may cover some of these services.

    Here’s more from Just Care: