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CMS reveals 2014 Medicare premiums and deductibles

The Medicare Part A deductible – for inpatient hospital, skilled nursing facility and home healthcare services – will increase by $32 in calendar year 2014, while the monthly Part A premium will decline by $9 or $15. Medicare Part B monthly premiums and deductibles will remain unchanged.

The Centers for Medicare & Medicaid Services announced the CY2014 rates earlier this week.

Daily Medicare coinsurance amounts will be $304 for days 61-90 of hospitalization in a benefit period; $608 for lifetime reserve days; and $152 for days 21-100 of extended care services in a skilled nursing facility in a benefit period. The Part A premium, which is paid by just 1 percent of beneficiaries who have fewer than 40 quarters of Medicare-covered employment, will decline by $9 or $15 in CY 2014, to $234 or $426, respectively, depending on how long beneficiaries had Medicare-covered employment.

The base Part B monthly premium and annual deductible – for physician and hospital outpatient services, certain home healthcare services, durable medical equipment and other items – will be unchanged for CY 2014 at $104.90 and $147, respectively. If a Part B beneficiary has to pay an income-related monthly adjustment, they may have to pay a total monthly premium of about 35, 50, 65, or 80 percent of the total cost of Part B coverage.

 

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