Medicare Basics

Medicare Premium Amounts for 2003

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.
$316.00 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 $174.00 for those individuals having 30-39 quarters of Medicare covered employment.

Part B: (Medical Insurance) Premium

$58.70 per month.

Original Medicare Plan Deductible and Co-Ins Amounts for 2003

Part A: (Hospital Insurance)

Deductible

$840.00 (Per Benefit Period)

Coinsurance

$210.00 a day for the 61st - 90th day each benefit period.
$420.00 a day for the 91st - 150th day for each lifetime reserve day (total of 60 lifetime reserve days - non-renewable).

Skilled Nursing Facility Coinsurance

Up to $105.00 a day for the 21st - 100th 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.)

See Medicare & You for additional information about Original Medicare Plan coinsurance and co-payment amounts.

Source: www.medicare.gov/basics/amounts2003.asp