The Center for Medicare and Medicaid Services (CMS) has announced updates to the Medicare deductible, coinsurance, and premium rates for 2008. The new rates are as follows:
2008 Part A (Hospital Insurance)
• Deductible: $1,024
• Coinsurance: $256/day for 61st-90th day
• $512/day for 91st-150th day (lifetime reserve days)
• $128/day for 21st-100th day (skilled nursing facility coinsurance)
• Base premium (BP): $423/month
• BP with 10 percent surcharge: $465.30/month
• BP with 45 percent reduction: $233/month (for those who have 30-39 quarters of coverage)
• BP with 45 percent reduction and 10 percent surcharge: $256.30/month
2008 Part B (Supplementary Medical Insurance)
• Standard premium: $96.40/month
• Deductible: $135/year
• Coinsurance: 20 percent
The implementation date for these changes is Jan. 7, 2008.
