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Today's Date:
September 6, 2010
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Latest Info |
Medigap (Medicare Supplement) plans must meet certain changes recommended by the National Association of Insurance Commissioners (NAIC) by June 1, 2010.
These changes will ONLY affect NEW insureds. If you have a Medicare Supplement plan in effect before June 1, 2010 your plan will not change and you do not need to do anything. Only new Medicare Supplement insurance policies with effective dates of June 1, 2010 or later will have the changed plan designs.
The new plan designs are aimed to secure and modernize Medicare, by eliminating some Medicare Supplement plans deemed redundant and introducing two new Medicare Supplement plans with modified cost-sharing structures.
All Medicare beneficiaries have the option to enroll in the Medicare prescription drug plan (Part D) offered by private insurance companies for an extra premium. The estimated average monthly premium for standard coverage in 2010 is $30. This monthly premium and program benefits are subject to annual changes."
Medicare 2010 Premiums and Deductibles
The 2010 Part B monthly premium is $110.50, an increase from 2009. Beginning in 2007, the Part B premium a beneficiary pays each month is based on his or her annual income. Specifically, if a beneficiary's "modified adjusted gross income" is greater than the legislated threshold amounts ($85,000 in 2010 for a beneficiary filing an individual income tax return or married and filing separate return and $170,000 for a beneficiary filing a joint tax return) the beneficiary is responsible for a higher Part B monthly premium.
Here's how Monthly Medicare Part B premiums have increased over the past decade.:
2000 - $45.50
2001 - $50.00
2002 - $54.00
2003 - $58.70
2004 - $66.60
2005 - $78.20
2006 - $88.50
2007 - $93.50
2008 - $96.40
2009 - $100.00
2010 - $110.50
2011* - $120.20
*estimated
SOURCE: MEDICARE TRUSTEES
Medicare Plan Deductible and Coinsurance Amounts for 2010
Part A: (Hospital Insurance)
Deductible:
$1,100.00 (Per Benefit Period)
Coinsurance:
$275.00 a day for the 61st - 90th day each benefit period
$550.00 a day for the 91st - 150th day for each lifetime reserve day
(total of 60 lifetime reserve days - non-renewable)
Skilled Nursing Facility Coinsurance
Coinsurance:
$137.50 a day for the 21st-100th day each benefit period
Part B: (Medical Insurance)
Deductible:
$155.00 per year
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