Part A – Hospital Insurance |
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Standard Premium |
$0 for most people (with 40 work credits, 10 years of tax payments). |
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$506 per month for people with less than 30 work credits. |
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$278 per month for people with 30 – 39 work credits. |
Part A Deductible |
$1,600 for each benefit period |
Part A Coinsurance |
$0 for days 1-60, $400 per day for days 61 to 90, $800 per day for days 91-150, and all costs after day 150 |
Skilled Nursing Facility Coinsurance |
$0 for days 1-20, $200.00 per day for days 21-100, and all costs for Days after 100 |
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Part B –Medical provider and Durable Medical Equipment Insurance |
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Standard Premium |
$164.9 per month for New enrollees. The rate scales up to $362.60 per month when income tops $183,000 (single filing status), and $527.50 when income exceeds $366,000 (joint filing status). |
Part B Deductible |
$226 |
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Part D – PDP (Prescription Drug Plans) |
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Base Premium |
$31.50 per month. This base premium is used only for determining certain means based monthly premium adjustments and for computing late enrollment surcharges. Each drug prescription insurance company establishes their own monthly premium which includes establishing formularies (their list of drugs covered). The rate scales up to $70.00 plus your plan premium per month when income tops $183,000 (single filing status), and scales up to $76.40 plus your plan premium when your income exceeds $500,000 (joint filing status). |
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Late enrollment penalties |
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Part A |
10% surcharge paid for a period equal to twice the number of years you were entitled to Part A but chose not to enroll. |
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Part B |
10% surcharge for as long as you have Medicare. The penalty increases by 10% for each full 12-month period you were entitled to Part B but chose not to enroll. |
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Part D |
The late enrollment penalty is calculated by multiplying 1% of the National base premium (see above) times the number of full, uncovered months that you were eligible but didn’t join a Medicare drug plan. |