With the new year, 2013 also brought increases in Medicare costs. These changes affect all that are on Medicare. Medicare Hospital Coverage also known as Part A, covers in patient hospital stays, care in a skilled nursing facility, hospice care and some home health care.
Part A had the following increases:
Monthly Premium: Medicare Part A is free unless you are among the 1% that have to pay a monthly premium. To receive Part A benefits at no cost you need to have paid Medicare payroll taxes for 40 quarters of employment or be married to someone who did. If you are part of the 1%, you will be happy to know that the monthly premium has decreased from $451 to $441.
Medicare Part A Deductible*:Increased $28 from $1156 to $1184.
Part A Coinsurance*:ertaining to Inpatient Hospital Care for days 61-90) Its now $296 per day. An increase of $7.
Lifetime Reserve Coinsurance*: For Inpatient Hospital Care, days 91-150. After an increase of $14, it is now $592 per day
Skilled Nursing Facility (SNF) Coinsurance*: (Pertaining to days 21-100)- After an increase of $3.50 per day the coinsurance is $148 per day.
* Per Benefit Period (A benefit begins on the first day you receive service as an inpatient at a hospital, and ends after you have been out of the hospital and have not received care in any other facility for 60 days in a row.)
Part B changes:
After an increase of $7 the Part B Annual Deductible, is now $147. –this is still lower than previous years
Depending on you income your Part B Monthly Premiums may have increased. Most people will stay the same, however if your income was above a certain amount 2 year ago you may have to pay more. Click here to see more details or call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778.
High Deductible Plan F had a $40 increase in their annual deductible, bringing it to $2110
Plan K annual out-of pocket limit is now $4800 after an increase of $140
Plan L annual out-of-pocket limit is now $2400 after an increase of $70