Medicare has released its 2014 costs for seniors 65 and over. Some costs have changed while others have stayed the same. See our list below to learn about the new year’s cost.
Medicare Part A 2014 Cost Breakdown
The following are your fixed costs for Medicare Part A, known as Original Medicare’s hospitalization coverage:
- Premium: Most people will continue to pay $0.
- Deductible for each benefit period*: $1,216
- In-patient Coinsurance Days 1-60: $0
- In-patient Coinsurance Days 61-90: $304 per day
- In-patient Coinsurance Lifetime Reserve Days 91-150: $608
- Beyond Lifetime Reserve Day: All costs
- Skilled Nursing Coinsurance Days 1-20: $0
- Skilled Nursing Coinsurance Days 21-100: $152 per day
- Skilled Nursing Days After 100: All costs
*Every new hospitalization stay will result in paying an additional deductible of $1,216 for the first 60 days.
Medicare Part B 2014 Cost Breakdown
The following are your fixed costs for Medicare Part B, known as Original Medicare’s medical/day to day coverage:
- Premium: Most people will continue to pay $104.90.
- Deductible: $147
Other Options for Medicare
You have the option to enroll into Medicare Advantage which must cover all the benefits of Original Medicare but may offer extras like dental, vision, Rx coverage, and gym memberships. Or you have the option to supplement Medicare with a Medigap policy. Medigap policies may cover all of the above costs (except for premiums) and extend your lifetime reserve days to 365.
To learn more about Medicare costs call 800-930-7956 or contact Senior65.