Medicare rates are standardized and broken down into hospital care, Medicare Part A, and medical care, Medicare Part B. We have broken down what you pay for your Original Medicare health costs.
Medicare Part A Rates
Medicare Part A is hospitalization coverage and its rates are as following:
- Monthly Premium: $0 for most people ($505 for those who don’t qualify)
- Benefit Period Deductible*: $1,632 (starts over every 60 days you are out of hospital care)
- Hospice Care: $0
- Hospital Coinsurance*: $408 a day for 30 days (after first 60 days in hospital)
- 60 Lifetime Reserve Hospital Days*: $816 per day
- Skilled Nursing Facility: $0 first 20 days, $204per day for 80 days
- Home Health Care: $0 for care (see Part B costs for further details)
- Costs After Medicare Limits: 100% out of pocket
- Out of Pocket Max: Original Medicare doesn’t put a ceiling on your out of pocket costs
*Medicare covers inpatient mental health at the same cost as hospitalization, however there is a lifetime limit of 190 days.
Medicare Part B Rates
Medicare Part B is day to day care and the rates are:
- Monthly Premium: $174.70 (costs more if you make more than 85k per year)
- Yearly Deductible: $240
- Clinical Lab Services: $0
- Home Health Durable Equipment: 20%
- Preventive Care: $0
- Mental Health Out-Patient: 20-40%
- Doctor’s Office Visit: 20%
- Excess Charges: Varies per doctor
- Speech, Pathology, Occupational Therapy: 20%
- Out of Pocket Max: Original Medicare doesn’t put a ceiling on your out of pocket costs
Medicare Options to Lower Costs
Medicare Advantage and Medigap can both limit your out of pocket costs. Medicare Advantage limits your costs by offering low to $0 monthly premiums and a max out of pocket of as high as $8850. Medigap fills in Medicare’s gaps with plans that may cover your deductibles, coinsurance, copays, excess charges, and extend hospitalization. Click here to compare Medicare Advantage to Medicare Supplement Insurance.
For any further questions about Medicare rates call the number above or contact Senior65.com.