| Tue, Jan 14, 2014 @ 09:00 AM

What Will Medicare Cost in 2014?

Posted by Medicare Made Clear

medicare costA new year can mean changes to your Medicare costs. Let’s take a look at what might have changed for you in 2014, and compare cost

Note: If you need a quick review on how cost-sharing works with Medicare, take a look at Your Medicare Costs on MedicareMadeClear.com.

 

Medicare Part A (Hospital Insurance) Costs

Inpatient care

Your Cost in 2014

Your Cost in 2013

Monthly premium

For most people, the Part A premium is $0. But you pay a premium if you or your spouse didn’t work and pay taxes for at least ten years earlier in your life.

 

 Up to $426

 

 Up to $441

 

Deductible

Part A charges a deductible for each benefit period. A benefit period begins the day you go into a hospital or skilled nursing facility. It ends when you have been out for 60 days in a row. You may have more than one hospital stay during a benefit period.

 

 

$1,216

 

 

$1,184

Hospital stay

You must be admitted to the hospital as an inpatient by doctor’s order. If you are there only for observation, Part A will not cover the cost.

Days 1 – 60

Days 61 – 90
 
Days 91+ (“lifetime reserve” days)

 

 

 $0 (after deductible)

$304 per day

 $608 per day (max. of 60)

 

 

$0 (after deductible)

$296 per day

$592 per day (max. of 60)

Skilled nursing facility stay

You need to be in the hospital as an inpatient for at least three days to qualify for follow-up care in a skilled nursing facility. The day of your discharge does not count.

Days 1 – 20

Days 21 – 100

 

Days 101+

 

 

 $0 (after deductible)

$152 per day

 

100% of costs

 

 

 $0 (after deductible)

$148 per day

 

100% of costs

 

 

Medicare Part B (Medical Insurance) Costs

Doctor visits and outpatient care

You’ll note that the Part B premium and deductible for 2014 have remained the same as in 2013.

Your Cost in 2014

Your Cost in 2013

Monthly premium

Most people pay the monthly premium for Part B. What you pay depends on the taxes you filed.

If you file an individual tax return and your income is:

If you file a joint tax return and your income is:

 

  $104.90

 

$104.90

 

 $85,000 or less

 

 $170,000 or less

$85,001 to $107,000

$170,001 to $214,000

$146.90

$146.90

$107,001 to $160,000

$214,001 to $320,000

$209.80

$209.80

$160,001 to $214,000

$320,001 to $428,000

$272.70

$272.70

Over $214,000

Over $428,000

$335.70

$335.70

Deductible

Part B costs include an annual deductible.

$147

$147

There may be additional costs that Part B may help with. You can contact your State Health Insurance Assistance Program for answers to your questions.

Other 2014 Medicare Costs

Medicare Part C (Medicare Advantage) plans, Medicare Part D (prescription drug coverage) plans and Medicare Supplement plans are all offered by private insurance companies. These companies determine their own costs for 2014. Costs will vary, depending on the specific plans.

If you have one of these plans, check your Annual Notice of Change (ANOC) document, or other benefit documents, for more information on your costs in 2014. You can also use the Plan Finder at Medicare.gov to see what’s available where you live.

For more information, explore MedicareMadeClear.com or contact the Medicare helpline 24 hours a day, seven days a week at 1-800-MEDICARE (1-800-633-4227), TTY 1-877-486-2048.

Resources:

Medicare Made Clear: Learn more about Medicare and how cost-sharing works.

Medicare & You: Learn about Original Medicare coverage and costs in this annual publication.

Medicare.gov: Find out more about 2014 Medicare costs on the official U.S. government website for Medicare.

 

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