Are you aware of the changes to Medicare in the upcoming year? This is the first post in our “Medicare Premiums and Deductibles For 2012” series.
According to the Centers for Medicare & Medicaid Services (CMS) Office of Public Affairs, Medicare Part A premiums will be increasing by just $1 per month, and the deductible will increase by just $24. “For Medicare Part A, which pays for inpatient hospital, skilled nursing facility, and some home health care, about 99 percent of Medicare beneficiaries do not pay a premium since they or their spouses have at least 40 quarters of Medicare-covered employment,” reported the CMS.
Pay very close attention to how the changes will affect patients of different ages. “Some enrollees age 65 and over and certain persons with disabilities who have fewer than 30 ‘quarters of coverage’ obtain Part A coverage by paying a monthly premium set according to a statutory formula,” reported the CMS. “This premium will be $451 for 2012, an increase of $1 from 2011. Those who have between 30 and 39 ‘quarters of coverage’ may buy into Part A at a reduced monthly premium rate which is $248 for 2012, the same amount as in 2011.”
The deductible for inpatient hospital admittance will be another one of the many changes. “The Part A deductible paid by a beneficiary when admitted as a hospital inpatient will be $1,156 in 2012, an increase of $24 from this year’s $1,132 deductible. The Part A deductible is the beneficiary’s cost for up to 60 days of Medicare-covered inpatient hospital care in a benefit period. Beneficiaries must pay an additional $289 per day for days 61 through 90 in 2012, and $578 per day for hospital stays beyond the 90th day in a benefit period. For 2011, per day payment for days 61 through 90 was $283, and $566 for beyond 90 days.”
For beneficiaries in skilled nursing facilities, the daily co-insurance for days 21 through 100 in a benefit period will be $144.50 in 2012, compared to $141.50 in 2011.
If you have any questions about how these changes will affect you or your loved one, consult a professional or patient advocate.