2010 Medicare Premiums
Part A Premium (Hospital Insurance):
- Many individuals will not have to pay a monthly premium for Part A due to them or their spouse having 40 or more quarters of employment which is Medicare-covered.
- Medicare Premiums of Part A is $254.00 a month for individuals who have 30 to 39 quarters of employment which is Medicare-covered.
- Medicare Premiums of Part A is $461.00 a month for individuals who aren’t eligible for hospital insurance which is premium-free and possesses less than 30 quarters of employment which is Medicare-covered.
Part B Premium (Medical Insurance):
- In 2010, many beneficiaries will continue to pay the same premium price of $96.40. Beneficiaries who now allow the Administration of Social Security to withhold the premium of Part B and who have incomes of less than $85,000 a year (or for joint filers, less than $170,000) won’t have increases in the 2010 Part B premium.
- For others, a regular Part B monthly premium in 2010 is $110.50, which is a 15% rise over the premium of 2009. The Medicare Part B premium in 2010 is increasing because of the increase in Part B prices. If your income is over $170,000 (married) or $85,000 (single), then the Part B premium might be over $110.50 a month.
2010 Coinsurance and Medicare Deductible Amounts:
Medicare Part A will pay for care in a skilled nursing facility, inpatient hospital, and a bit of home health care. For every benefit duration, Medicare will pay all the covered prices except for the Medicare Part A deductible (in 2010, it equaled to $1,100) in the first 60 days and hospital stay coinsurance amounts which last over 60 days and not more than 150 days.
Benefit duration, you will pay:
- An overall amount of $1,100 for the hospital stays of 1 – 60 days.
- $275 a day for 61 – 90 days of stay in the hospital.
- The amount of $550 a day for 91- 150 days of stay in the hospital.
- Each price for every day over 150 days
- Skilled Nurse Institution Coinsurance
- The amount of $137.50 a day for 21 – 100 days
For $155.00 a year, Medicare Part B will cover durable medical equipment, Medicare eligible doctor services, hospital services in an outpatient setting, and specific home health services. (You will pay 20% on the Medicare-approved number for services following your meeting the deductible of $155.00.)
By utilizing the 521 Social Security form, millions of senior citizens who choose to obtain Social Security before the age of 70 can increase their sustainable living standards by re-paying the benefits they have received in the past