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Good News For Medicare Part A & Part B Premiums for 2012
Each year Medicare sets how much you pay for its premiums,
deductibles, and co-payments for Part A & Part B. The table below
show the rates for Part B in 2012:
The reason you purchase a Medicare Supplement is to fill or cover
the Gaps and co-insurance left by Medicare Parts A & B.
The table below shows the Medicare Part B
premiums and is based on your last years tax return.
Part A Premiums:
Most people do not pay for Part A,
because they have paid Medicare taxes for 40 or more quarters while
working.
Part B Premiums
The standard Part B premium for 2012
is $ 99.90. Good News if you enrolled in Medicare in 2011 your
premium will decrease $ 15.50 a month. See the chart below. So, most people with Medicare already
enrolled in Part B and are paying $ 96.40 will see the rates rise to
$ 99.90 a month and increase of $ 3.50 a month. If you are paying a
different amount your premiums will be adjusted to $ 99.90 a month
if your income is below $85,000 for an
individual or $170,000 for a married couple on your last years tax
return.
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Tax Return Income (Individual) |
Joint Tax Return Income (Married Couples) |
2012 Monthly Part B Premium |
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New 2012 Medicare enrollees
Up to $85,000 |
Up to $170,000 |
$99.90 |
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$85,001 to $107,000 |
$170,001 to $214,000 |
$139.90 |
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$107,001 to $160,000 |
$214,001 to $320,000 |
$199.80 |
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$160,001 to $214,000 |
$320,001 to $428,000 |
$259.70 |
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Over $ 214,000 |
Over $428,000 |
$319.70 |
Deductibles and Co-payments
Part A Deductible: The 2012 Part A deductible is $1,156 per
illness, up $24 from 2011.
Part B Deductible: The 2012 Part B deductible is
$140.00, down $ 22.00 from 2011.
Part A Co-payments: The 2012 Part A deductible
covers the first 60 days of a Medicare-covered hospital stay. Then
you pay $289 a day for days 61 through 90. After the 90th day, your
co-pay for lifetime reserve days is $578.00 a day.
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The standard chart was changed on June 1, 2010. The
new chart for 2011 has been posted on this website.
All of these plans are the same with every
insurance company offering the plan.
Not all plans are offered by every insurance
company...
The one you select can make a difference on
how much your "out of pocket expenses" will be...
We help you make a wise choice...
Most of the time we recommend
Medicare
Supplement plan F or
Medicare
Supplement plan G
highlighted in the chart below in yellow. But the choice is
entirely up to you...
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There are 10 standardized Medicare Supplement plans “A”
through “N”.
The benefits of each plan are different, with the exception
that all plans are required to cover the “Basic Benefits” which are identified
below. Medicare standardized the plans in 1990 to limit the consumer’s
confusion when comparing coverage offered by different
insurance
companies. With standardization, the consumer can easily
compare the benefits and the cost between the different
insurance companies offering the plans. The words "Medicare
supplement" and MediGap plans are interchangeable and mean
exactly the same thing. The descriptions
of benefits of each of these plans are in the table below.
How to read the
chart: If a check mark appears in the column, this
means that the MediGap policy covers that benefit up to
100% of the Medicare-approved amount. If a column
lists a percentage, this means the MediGap policy covers that
benefit at that percentage rate of the Medicare-approved
amount. If no percentage appears or if the column is blank,
this means the MediGap policy doesn't cover
that benefit. Note: The coverage of
coinsurance only begins after you have paid the deductible on
plans K & L. This does not apply to the Medicare Part B excess
charges in Plan G.
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Modernized
Medicare Supplement Benefit Information beginning
06/01/2010 and updated for 2011
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F*
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M |
N |
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Medicare Part A Coinsurance and Hospital Benefits |
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| Medicare Part A
Deductible |
- |
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50%
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75%
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50%
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| Medicare Part B
Coinsurance or Co-payment |
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50%
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75%
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Copay** |
| Medicare Part B Deductible |
-
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- |
- |
- |
- |
| Medicare Part B
Excess Charges |
-
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- |
- |
- |
- |
| Blood (First Three Pints) |
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50%
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75%
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| Foreign Travel Emergency
(Up to
Plan Limits)*** |
-
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-
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- |
- |
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| Hospice Care
Coinsurance or Co-payment |
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50%
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75%
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| Preventive Care Coinsurance |
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| Skilled Nursing Coinsurance |
-
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-
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50%
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75%
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Out-of-Pocket Limit |
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$2000* |
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$4,640**** |
$2,320**** |
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*2011 High Deductible Plan F
pays NO Benefits until a
$2000 deductible is met.
*Medicare Supplement Plan
F also has a high deductible
option. We don't recommend the high deductible plan F in
most cases.
If you select the high deductible plan F you have to pay the
first $2,000 (deductible in 2010) in MediGap-covered costs
before the MediGap policy pays anything.
*In some areas some companies will offer a Select Plan C
& Select Plan F. The plans are the same as Plan C & Plan F
except they will have network hospitals to use. Select Plan C &
Select Plan F will have lower premiums.
**Plan N pays Part B coinsurance
or co-payment except for an insured copay of up to $20 for
each doctor's office visit and up to $50 for each emergency
room visit ( emergency room copay waived if admitted as an
inpatient).
***You must also pay a separate
deductible for foreign travel emergency care ($250 per
year). The plan pays 80% after the $250 deductible up to the
plans lifetime limit of $ 50,000
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On plans K & L Only. After you meet your out-of-pocket
yearly limit of $4640 on plan K and $2320 on plan L and your
$162 yearly Part B
deductible, the plan pays 100% of covered services for the
rest of the calendar year. We don't recommend these plans
for most people. |
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2011 Basic Benefits
•Hospitalization Coinsurance for days 61-90 is ($283 per
day) and days 91 and after while using lifetime reserve days
is ($566 per day)
• Payment in full for 365 additional hospital days
• 20% coinsurance for physician and other Medicare Part B
services
Medicare Part A Hospital Deductible
• The 2011 deductible is $1132
Skilled Nursing Facility (SNF) Coinsurance
• $141.50 a day for days 21-100 in a Skilled Nursing
Facility in 2011
Medicare Part B Yearly Deductible
• The 2011 deductible is $162
Medicare Part B Excess Charges
• Difference between doctor's charge and Medicare's approved
amount
• Up to 15% above the Medicare approved charge which is the
doctor’s maximum charge
Foreign Travel Emergency
• Pays 80% of the cost of emergency care during the first
two months of each trip after you pay a $250 deductible
• Lifetime maximum of $50,000 |
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