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Medicare costs up slightly
By KRIS HUNDLEY, Times Staff Writer
Published October 2, 2007
In the lowest increase in six years, Medicare premiums will rise 3.1 percent next year to $96.40 a month. The good news could be temporary. The formula used to calculate the premium assumes doctors will take a 10 percent cut in reimbursement in 2008. If that does not occur, premiums may rise faster in the future. The Medicare premium covers Part B services like doctors' visits and outpatient hospital services. It is typically deducted from Social Security checks and wealthier individuals may pay more. Also Monday, private insurers began marketing their alternatives to traditional Medicare for 2008. Several of those plans will likely include a feature that has been popular in the past: a rebate on the Part B premium. Among the private offerings in Florida will be 58 standalone drug plans. Insurers also will be marketing dozens of HMOs and PPOs, as well as an array of private fee-for-service plans. These plans supposedly allow members to see any doctor, anywhere, any time, though physicians can refuse to participate in the plans. Medicare participants have time to mull over the options. Enrollment begins Nov. 15 and runs through Dec. 31. Kris Hundley can be reached at khundley@sptimes.com or 727892-2996. What's the news? The monthly premium for Medicare Part B will be $96.40 next year, up from $93.50 this year. Who pays that? Most Medicare beneficiaries have the Part B premium automatically deducted from their monthly Social Security check. What does it cover? Medicare Part B covers doctors' services, outpatient hospital work, certain home health services and durable medical equipment. Will everybody pay the same amount? Wealthier people pay higher Part B premiums, but about 95 percent of participants will qualify for the standard $96.40 premium. Can I avoid paying the Part B premium? A few private insurers sell alternatives to traditional Medicare, like HMOs, that offer rebates on all or part of the Part B premium. Details are available through the insurers who began marketing their 2008 plans on Monday.
[Last modified October 2, 2007, 06:03:32]
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by Bob
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10/02/07 08:51 PM
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Medicare will take almost $100, then buy a medigap policy for non-covered medical services, then buy a policy for medicines, then pay plan deductibles, then pay co-insurance, then pay when you get in the doughnut hole, then pay... you get the idea.
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by Jim
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10/02/07 11:28 AM
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Being disabled at only 60 on SSI and Medicare I have learned how much our government really needs to start to care for the elderly and disabled and LOWER their costs and RAISE their income. Thanks, Jim
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