Monday, November 4, 2013

Complete Medicare cost sharing information

On October 28, 2013, the office of HHS Intergovernmental and External Affairs announced  Medicare deductible and cost-sharing information for 2014.  The official federal register announcement should be forthcoming shortly. Questions should be directed to HHS IEA (OS/IEA), [email protected] 

The Medicare Part A deductible per spell of illness (or benefit period) for hospital coverage be $1,216 in 2014 (an increase of $32 from the 2013 deductible of $1,184).

Hospital copayment amounts (2014):
        Day 1- 60:  $0.
        Day 61 – 90:  $304 per day
        Day 91-150:  $608 per day.

Skilled Nursing Facility copayment amounts (2014)
        Day 1 -20: $0
        Day 21- 100: $152.00

The Medicare Part A premium (2014)

The Medicare Part A premium in 2014 is $426 per month.  Part A covers inpatient hospital, skilled nursing facility, and some home health care services.  Most beneficiaries do not pay a premium for Part A because they have at least 40 quarters of Medicare-covered employment.  In 2014 beneficiaries who have between 30 and 39 quarters of Medicare-covered employment may buy into Part A at a reduced monthly premium rate of $234.
 
The standard Medicare Part B monthly premium will be $104.90 in 2014, the same as it was in 2013.  The Medicare Part B deductible will also remain unchanged at $147.

More details.

For 2014, the income-related monthly premium rates will remain the same as they were in 2013. States have programs that pay some or all of beneficiaries' premiums and coinsurance for certain people who have Medicare and a limited income. Information is available at 1-800-MEDICARE (1-800-633-4227) and, for hearing and speech impaired, at TTY/TDD: 1-877-486-2048.
For more information about the 2014 Medicare Part B premium and Medicare in general, please go to www.Medicare.gov.

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