| Part A, B, C & D 2008 |
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Medicare Part A, Part B, Part C, and Part D 2008 Premiums, Deductibles and Co-insurance Part A - Hospital Insurance Most people receive premium free Part A because they or a spouse has 40 or more quarters of Medicare covered employment. The Part A premium is $233.00 per month for people having 30-39 quarters of Medicare covered employment. The Part A premium is $423.00 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 A pays for an 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. The 2008 deductible is $1034 for a hospital stay of 1 – 60 days Skilled Nursing Facility Coinsurance is $128.00 per day for days 21 through 100 each benefit period. A benefit period begins the first day you receive services and ends after you have not received services for at least 60 days. There is no limit to the number of benefit periods. Part B – Medical Insurance – Original Medicare Plan The basic Part B Medicare premium for 2008 is $96.40 Part B covers Medicare eligible physician services, outpatient hospital services, certain home health services and durable medical equipment. The 2008 Part B deductible is $135.00 per year. You also pay a 20% coinsurance. Part C – Medical Insurance - Advantage Plans Advantage plans are available in many areas. The deductibles and coinsurance will vary based on the plan you choose. If you have one of these plans, you do not need a Medigap policy.
These plans may cover more services and have lower out-of-pocket costs than the Part B Original Medicare Plan. Some plans cover prescription drugs. In some plans, like HMOs, you may only be able to see certain doctors or go to certain hospitals to get covered services. The Medicare plan that you choose affects many things like cost, benefits, doctor choice, convenience, and quality. If you join a Medicare Advantage Plan, your Medigap policy will not work. This means it will not pay deductibles, copayments, or other cost sharing under your Medicare Health Plan. Therefore, you may want to drop you Medigap policy if you join a Medicare Advantage Plan. You can enroll or reenroll in a Medigap plan if you choose to return to a Part B Original Plan, but there are time limits. When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. Generally, in these plans they have extra benefits and lower copayments than in the Part B Original Medicare Plan. To join you must have Medicare Part A and B. You will still pay your regular Medicare Part B premium. You may also have to pay additional charges for the extra benefits offered by the Medicare Advantage Plan. Part D – Prescription Drug Plans These stand-alone plans add prescription drug coverage to the Part B Original Medicare Plan, some Medicare Cost Plans, some Medicare Private Fee-for-Service Plans and Medicare Medical Savings Account Plans. The deductibles and coinsurance will vary depending on the plan you choose. There is extra help for people with limited income and resources. If you qualify for extra help, Medicare will pay for almost all of your prescription drug costs. You can apply for the extra help or get more information about the extra help by calling Social Security at 1-800-772-1213 |