October 17, 2014

CMS Announces 2015 Medicare Premiums, Deductibles

The Oct. 10 Federal Register included Medicare Parts A and B premiums and deductibles for calendar year 2015. The Medicare Part A deductible that beneficiaries pay when admitted to the hospital will be $1,260 in 2015, an increase of $44 from this year's $1,216 deductible. The deductible covers beneficiaries' costs for up to 60 days of Medicare-covered inpatient hospital care in a benefit period.

Beneficiaries must pay $315 per day for days 61 through 90 in 2015, and $630 per day for hospital stays beyond the 90th day. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 in a benefit period will be $157.50 in 2015.

According to the Centers for Medicare and Medicaid Services, the standard Medicare Part B monthly premium will be $104.90 in 2015, the same as it was in 2013 and 2014. By law, the standard Part B premium represents roughly one-fourth of the average cost for beneficiaries aged 65 and over, plus a contingency margin to provide for possible variations between actual and projected costs. The Medicare Part B deductible will also remain unchanged at $147.

Although about 99 percent of Medicare beneficiaries do not pay a premium for Part A since they have at least 40 quarters of Medicare-covered employment, enrollees age 65 and over and certain persons with disabilities who have fewer than 30 quarters of coverage pay a monthly premium - $407 in 2015 -  in order to receive coverage under Part A. Beneficiaries who have between 30 and 39 quarters of coverage may buy into Part A at a reduced monthly premium rate which is $224 for 2015, a decrease of $10 from 2014.

For more information, contact Kathy Reep, vice president of finance, at (407) 841-6230.