Medicare 2018 Coverage Update
It is that time of year again when Medicare coverage has changed. The Medicare 2018 coverage for seniors has changed slightly. These changes are important to understand so you know what to expect when visiting a hospital or doctor. Surprise medical bills are never fun to receive. Stay informed and check out these main changes in your Medicare 2018 coverage.
Medicare 2018 Part A Changes
Medicare Part A is the part of Medicare that covers hospital costs. In 2017, the Part A deductible was $1,316. In 2018, the Part A deductible is $1,300. It reduced by $16, which is great! Any money saved is helpful to your bank account.
When it comes to hospital stays, the copays went up in every time period category for 2018:
- Day 1 – 60, you pay $1,340 total per benefit period. This is up $24 from 2017.
- 61 – 90, you pay copay of $335 per day, which is up $6 per day from 2017.
- 91 – 150, you pay $670 per day, which is up $12 per day from 2017.
- 151+ you pay all costs, which is the same from 2017.
The skilled nursing copay also went up in 2018. This year, it is $167.50 copay per day, which is up $3 from 2017.
Most people do not pay a monthly premium for Part A. Your Part A premium is free when you or your spouse has worked and paid taxes for 40 quarters, which is about 10 years. If you have not worked or paid for the required amount of quarters, then the standard premium for Part A is $422 every month.
Medicare 2018 Part B and Part D
Medicare Part B, which is the part of Medicare that covers doctor visits, is staying the same in 2018. The Part B deductible is still $183, like last year. Also, Part B premium is $134, which is the same as 2017.
Part D, which is the part of Medicare that covers prescription drug costs, has one minor change. The Part D deductible is $405, which is $5 more than 2017.
Concerned about Medicare’s rising costs?
If you are concerned about Medicare’s rising costs, consider purchasing a Medicare supplement. Medicare supplements will save you a lot of money on medical costs throughout the year. The most popular plans are Plan F, Plan G, and Plan N. Speak to a licensed insurance agent for more information. A licensed agent can guide you through the ins and outs of Medicare, as well as how a Medicare supplement can help you save money.