 |
|
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 2011 is $30. This monthly premium and program benefits are subject to annual changes.”
The Part D “Doughnut Hole” has changed under the new health care reform legislation of 2010. For 2010 only, Medicare patients who reach the coverage gap* will receive a one-time $250 rebate check from the Centers for Medicare and Medicaid Services (CMS)
The legislation calls for a gradual filling of the doughnut hole by 2020. This will be done by a combination of manufacturer discounts on drugs in the gap starting in 2011 and by a gradual increase in the amount covered by the Part D Plan benefit in the gap from 2011 to 2020 for both generic and brand-name drugs. Finally, by 2020 there will be no “doughnut hole” and the percentage of drug costs paid by the enrollee (25%) and the plan (75%) will be consistent throughout the year with no coverage gap — no doughnut hole. This 25%/75% split is the current cost sharing for prescription drugs before an enrollee goes into the doughnut hole coverage gap.
There are two parts to closing the coverage gap — one for generic drugs and one for brand-named drugs. Of course it isn’t possible to predict which drugs will be labeled brand-name or generic by 2020, or to estimate what the dollar amounts will be for those prescriptions. But without the doughnut hole Part D coverage should be easier to understand and make planning for health care costs more predictable.
Medicare 2011 Premiums and Deductibles
The 2011 Part B monthly premium is $115.40, an increase from 2010. 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 2011 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 - $115.40
*estimated 2012 - $118.31
SOURCE: MEDICARE TRUSTEES
Medicare Plan Deductible and Coinsurance Amounts for 2011
Part A: (Hospital Insurance)
Deductible:
$1,132.00 (Per Benefit Period)
Coinsurance:
$283.00 a day for the 61st - 90th day each benefit period
$566.00 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:
$141.50 a day for the 21st-100th day each benefit period
Part B: (Medical Insurance)
Deductible:
$162.00 per year
|
|
|
|
|
|
