Medicare

Medicare Premiums and Coinsurance Rates for 2007

Medicare Premiums for 2007:

Part A: (Hospital Insurance) Premium

Most people do not pay a monthly Part A premium because they or a spouse has 40 or more quarters of Medicare-covered employment.
The Part A premium is $226.00 for people having 30-39 quarters of Medicare-covered employment.
The Part A premium is $410.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.

Part B: (Medical Insurance) Premium

Deductible: $131.00 per person

Costs will go up every year for the next three years for those with higher incomes.

Medicare Deductible and Coinsurance Amounts for 2007:

Part A: (pays for inpatient hospital, skilled nursing facility, and some home health care) For each benefit period Medicare pays all covered costs except the Medicare Part A deductible (2007 = $992) during the first 60 days and coinsurance amounts for hospital stays that last beyond 60 days and no more than 150 days.

For each benefit period you pay:

A total of $992 for a hospital stay of 1-60 days.
$248 per day for days 61-90 of a hospital stay.
$496 per day for days 91-150 of a hospital stay (Lifetime Reserve Days).
All costs for each day beyond 150 days

Additional information about the Medicare premiums, deductibles, and coinsurance rates for 2007 is available in the Medicare Guide Book titled, "Medicare & You 2007" on the www.medicare.gov website.