Medicare prices are changing in 2017. This article will help you gain clarification about your coverage and answer questions about your Medicare health insurance. As you may know, different parts of Medicare cover different services. The specific parts of Medicare are parts A, B, C, and D; you may not be enrolled in all parts so be sure to check which parts will cover your healthcare. The following information provides basic information about your Medicare health insurance for 2017; more information can be found here.
Medicare Part A (Hospital Insurance)
Medicare Part A covers your fee for staying in a hospital as an inpatient, your care in a skilled nursing facility, hospice care, and some home health care.
Part A Medicare Premium
Up to $413 each month; although most people don’t pay a monthly premium for Part A (premium-free Part A). If you’re at least 65 years old, you can get premium-free Part A if you or your spouse paid Medicare taxes while working.
Part A Medicare Deductible and coinsurance
- $1,316 deductible for each benefit period (begins the day you’re admitted as an inpatient and ends on the 60th day of NOT receiving inpatient hospital care)
- Days 1-60 in the hospital: $0 coinsurance
- Days 61-90 in the hospital: $329 per day
- Beyond 90 days in the hospital: $658 per each “lifetime reserve day”
- Beyond lifetime reserve days: you pay all costs
Medicare Part B (Medical Insurance)
Medicare Part B covers certain doctors’ services, outpatient care, medical supplies, and preventive services.
Part B Medicare Premium
Starting at $134 per month and up to $428 per month depending on your income in 2015. Most people who get Social Security benefits pay around $109 per month.
Part B Medicare Deductible and coinsurance
- $183 per year plus 20% of most doctor services (including inpatient doctor services), outpatient therapy, and durable medical equipment.
- $1,980 is the limit for Medicare coverage of outpatient therapy. This means that once your outpatient therapy costs reach $1,980, you will have to pay all costs for continuing therapy. If you qualify for an exception because your therapy is medically necessary, the next limit amount is $3,700.
Medicare Part C (Medicare Advantage Plans)
Medicare Advantage Plans are a type of Medicare health plan, offered through a private company, to provide you with all of your benefits from Part A and Part B. Most Medicare Advantage Plans offer prescription drug coverage.
Medicare Part D (prescription drug coverage)
Medicare Part D could add prescription drug coverage to your Medicare health insurance. You can add Part D to the following plans: Original Medicare, some Medicare Cost Plans, some Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. These plans are offered by insurance companies and other private companies approved by Medicare.
I hope you find this article helpful as you navigate Medicare premiums and Medicare deductibles regarding your health insurance for 2017. Be sure to talk with your provider for details about how to qualify and sign up for Medicare. You can also visit medicare.gov or call 1-800-MEDICARE for more information regarding your Medicare coverage.
References
- https://www.medicare.gov/sign-up-change-plans/decide-how-to-get-medicare/whats-medicare/what-is-medicare.html
- https://www.medicare.gov/your-medicare-costs/part-a-costs/part-a-costs.html
- https://www.medicare.gov/your-medicare-costs/part-a-costs/part-a-costs.html
- https://www.medicare.gov/coverage/pt-and-ot-and-speech-language-pathology.html