Medicare Information for 2007

Medicare Premiums for 2007:

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

• $93.50 per month - Note: If your income is above $80,000 (single) or $160,000 (married couple), then your Medicare Part B premium may be higher than $93.50 per month

Medicare Deductible and Coinsurance Amounts for 2007:

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 (2007 = $992) 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:

• total of $992 for a hospital stay of 1-60 days.
• $248 per day for days 61-90 of a hospital stay.
• $496 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

• $124.00 per day for days 21 through 100 each benefit period.

Part B: (covers Medicare eligible physician services, outpatient hospital services, certain home health services, durable medical equipment)

• $131.00 per year. (Note: You pay 20% of the Medicare-approved amount for services after you meet the $131.00 deductible.)

CMS Publications

• Medicare & You 2008
• 2008 Choosing A Medigap Policy: A Guide To Health Insurance For People With Medicare
• Your Medicare Benefits
• Welcome to Medicare
• Medicare at a Glance

© 2004-2008, Law Office of David L. McGuffey, LLC

This page last updated: