As you may know, Original Medicare Part A and Part B have Medicare cost sharing in the form of co-pays and deductibles that Medicare Beneficiaries are responsible for. Every year this cost sharing can change, and in 2015 we have some small changes that could increase your expenses if you are on Original Medicare. The figures below will be in effect January 1st, 2015.
If you have Medicare Part C, also known as a Medicare Advantage Plan, then this should not affect you. You will not be affected by Medicare cost sharing, since you have agreed to the terms and conditions of the Medicare Advantage Plan that you enrolled in, when you signed up for that plan. Medicare Advantage Plans have their own cost sharing associated with the plan you enrolled in. To find these co-pays and deductibles please see your current Summary of Benefits for the current plan year. Medicare Advantage Plans have cost sharing that can change each year as well.
What parts in Medicare Cost Sharing have stayed the same
The two Medicare Cost Sharing expenses that most Original Medicare Beneficiaries will pay have not changed from 2014 to 2015. The Part B monthly Premium will remain at $104.90. This monthly premium is for most Medicare Beneficiaries, but high income earners will continue to be subject to higher Part B Premiums in 2015.
The Part B annual deductible will also be unchanged at $147.00 . For people on Original Medicare with no Medicare Supplement, these are the first dollars you will spend when receiving out-patient services.
So what Medicare Cost Sharing has changed in 2015?
So most other Medicare Cost Sharing has gone up slightly, but let’s take a look at some of the costs and who they will affect…
The Medicare Part A deductible has gone up from $1,216 to $1,260 per benefit period for Days 1 through 60 for inpatient stays. This will affect Original Medicare Beneficiaries that have no Medicare Supplement or have Medicare Supplement Plans A, High F (if they have not reached their deductible) or K.
Part A inpatient stays of Days 61-90 daily cost co-pay has risen from $304/day to $315/day. The daily cost co-pay for 90th day and over has risen from $608/day to $630/day. Please remember that these would go against your lifetime reserve days. This would affect any Original Medicare Beneficiaries that do not have a Medicare Supplement.
The Part A Skilled Nursing daily coinsurance for days 21-100 has risen from $152/day to $157.50/day. This will affect Original Medicare Beneficiaries that have no Medicare Supplement or have Medicare Supplement Plans A, B, High F (if they have not reached their deductible) or K.
These are some of the costs that have gone up in Medicare for 2015. Although Medicare Cost Sharing is continuing to rise, it is fortunately rising slowly. If you have any questions about this information or would like help determining which Medicare Supplement Plan is the best fit for you, please give me a call to discuss your situation. You can also visit Medicare.gov’s website for more extensive information on what Medicare covers.
Finding a Medicare Supplement Plan that you feel the premium is affordable and that you are comfortable with the expenses is the key.