The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2008:
Medicare Premiums for 2008:
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 $233.00 per month for people having 30-39 quarters of Medicare-covered employment.
The Part A premium is $423.00 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
$96.40 per month*
Medicare Deductible and Coinsurance Amounts for 2008:
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 (2008 = $1,024) 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 $1,024 for a hospital stay of 1-60 days.
$256 per day for days 61-90 of a hospital stay.
$512 per day for days 91-150 of a hospital stay (Lifetime Reserve Days).
All costs for each day beyond 150 days
Skilled Nursing Facility Coinsurance
Part B: (covers Medicare eligible physician services, outpatient hospital services, certain home health services, durable medical equipment)
Additional information about the Medicare premiums, deductibles, and coinsurance rates for 2008 is available in the October 1, 2007 Fact Sheet titled, "CMS Announces Medicare Premiums, Deductibles for 2008" on the www.cms.gov website.
*Note: If your income is above $82,000 (single) or $164,000 (married couple), then your Medicare Part B premium may be higher than $96.40 per month. For additional details, see our FAQ titled: "Medicare Part B Monthly Premiums in 2008"
(source: CMS: http://questions.medicare.gov/cgi-bin/medicare.cfg/php/