Medicare Basics - HIR Memphis

Medicare - 2004 Premiums & Deductibles

Medicare Premium Amounts for 2004

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.
$343.00 per month (Note: This premium is paid only by individuals who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare covered employment).
The Part A premium is $189.00 for those individuals having 30-39 quarters of Medicare covered employment.

Part B: (Medical Insurance) Premium

$66.60 per month.

Original Medicare Plan Deductible and Co-Ins Amounts for 2004

Part A: (Hospital Insurance)

Deductible

$876.00 (Per Benefit Period) Day 1 through 60

Coinsurance

$219.00 a day for the 61st - 90th day each benefit period.
$438.00 a day for the 91st - 150th day for each lifetime reserve day (total of 60 lifetime reserve days - non-renewable).
All cost beyond 150 days.

Skilled Nursing Facility Coinsurance

Up to $109.50 a day for the 21st through the100th day each benefit period.

Part B: (Medical Insurance)

Deductible

$100.00 per year. (Note: You pay 20% of the Medicare approved amount for services after you meet the $100.00 deductible.)

Additional information about the Medicare premiums, deductibles, and coinsurance rates for 2004 is available in the October 16, 2003 Health and Human Services press release titled "HHS Announces Medicare Premium and Deductible Rates for 2004" on the www.hhs.gov website.

2003 Medicare premium information is available in our FAQ titled "What are the Medicare premium and coinsurance rates for 2003?"

12.15.2003 Source: http://medicare.custhelp.com/cgi-bin/medicare.cfg/php/enduser/std_adp.php?p_faqid=1444&p_created=1066324968