2012 Medicare Deductibles

Every year, Medicare premium and deductible rates and regulations tend to change. If you are eligible for Medicare coverage, you should be aware of what current facts are available in regards to potential out-of-pocket expenses, and what options you have available for extended government support of your medical bills. This article pertains some basic information about 2012 Medicare deductibles, which has been compiled through official announcements on www.medicare.gov and summaries through health care informational resources.

2012 Medicare Part A Deductibles

For 2012 Medicare deductibles in relation to Medicare Part A, 99% of recipients do not have to pay premium costs, as this service is provided through the paying of taxes or government employment. However, if you are under the required 40 quarters of Medicare-covered employment, your Medicare Part A premiums have increased in 2012 by just $1 per month, and the deductible cost has increased by $24. Enrollees 65 and older with fewer than 30 quarters must pay a monthly set premium amount of $451. Those with in-between 30 and 39 quarter cycles of coverage have this premium amount reduced to $248 (which is the same amount as 2011).

Medicare Part A coverage extends coverage to patients who require prolonged periods in a hospital. The Part A deductible that is paid by the beneficiary is $1,156 (an increase of $24 from 2011), which covers up to 60 days of inpatient hospital care. After day 60, you will incur daily rates of $289 for days 61 until 90, and then this fee increases to a daily rate of $578. You should research any other possible state-funded options available to low income patients who may be faced with 2012 Medicare deductible fees after the 60 day period.

2012 Medicare Part B Deductibles

For Medicare Part B recipients, your monthly premium is $99.90 (adjusted for income rates under $85,000), which is actually $15.50 lower versus the 2011 premium rate of $115.40. However, in 2011 many recipients of Medicare Part B actually paid $96.40 after being declared as 'harmless'. So, this represents a slight increase in your 2012 Medicare deductibles. Fortunately, in 2012 Social Security monthly payments have increased by 3.6 percent, which will cover this slight increase.

These rates are set by law to cover an estimated one-fourth of the cost of Part B services, which includes outpatient hospital services, as well as medical and home-health services. An interesting note is that in 2012, $2.9 billion of expenditures for Medicate Part B is financed by fees recently established on the private pharmaceutical industry. This is through the Affordable Care Act.

It should also be remembered that your 2012 Medicare deductibles and premiums for Medicare Part B are still related to adjustment that depends on income levels. For beneficiaries making over $85,000 per year (about four percent), the rate increases. For instance, while an individual making under $85,000 per year will pay a total monthly amount in 2012 of $99.90, an individual making greater than $214,000 will pay $319.70, and various price adjustments also exist for income levels in-between these two figures.

You should speak to your Medicare representative or visit www.medicare.gov for additional information related to price / income level adjustments, as there are continued rate adjustments for 2012 Medicare deductibles and premiums that depend on factors that relate to married beneficiaries who files separate tax returns versus individual tax returns, as well as regulations that relate to children and other dependents.

2012 Medicare Part D Deductibles

For 2012 Medicare deductibles that relate to Medicare Part D, you can expect premiums for basic coverage at $30, which is less than a dollar lower than what was paid in 2011. Meanwhile, the Medicare Advantage premiums are actually 4 percent lower in 2012 versus 2011. Most Medicare beneficiaries receive access to the Medicare Advantage Plan, and beneficiaries will enjoy continued coverage in this regard.

Medicare Part D also continues to improve under the latest health care reform legislation. As in 2011, beneficiaries may enjoy 50% discounts on brand name prescription drug costs. Coverage for generic drugs will also increase to 14% from 7% in 2011.

As mentioned previously, there is often a possibility for assistance with your Medicare bills through state sponsored programs tailored for low-income recipients. If you feel uncertain about the 2012 Medicare deductibles and premium rates, consider visiting or calling the office of a local, state health office, or inquiring about low-income options through an online search.

Summary

Overall, the changes in the 2012 Medicare deductibles are fairly standard by comparison to 2011, and there are no serious changes in legislation that beneficiaries should be aware of. However, it would be good to stay aware of Medicare, especially as new bills are continually passed by the Congress which could change and evolve your rates and coverage. www.medicare.gov provides plenty of resources and news to stay up-to-date with information that affects your health and well-being.