Collin County Living Well Magazine Winter 2015 | Page 30
TARGETS for YOUR Wallet in 2016!
Medicare Premiums and Inflation! Hospital Charges That Can Slam You
By Tucker Thompson, CSA
2016 Medicare Premiums
“Hold Harmless” Social Security law
currently protects about 70% of today’s
Medicare recipients by disallowing
annual increases in Medicare Part B
premiums whenever Social Security
determines there won’t be COLA (cost
of living increases) in benefit checks for
the following year, like 2016.
In years when Social Security checks
are given COLA raises, law dictates
the government pick up 75% of Medicare’s annual charges and the remaining 25% be divided among all Part B
participants. No COLA in 2016, however, means Part B premiums for 70%
of Medicare beneficiaries remain the
same as last year’s $104.90/month.
Thirty percent of beneficiaries share all
25% of the cost for any Part B premium
increases. So who could that 30% be?
New Medicare enrollees in 2016, after premium increases are effective.
• Beneficiaries with MAGI greater than
$85,000 for singles and $170,000 for
couples.
• Beneficiaries who don’t have their Medicare premiums deducted directly from
their Social
• Security retirement deposits.
• Certain public sector retirees.
Hospital Charges
that Can Slam You
Many Medicare patients admitted to
hospitals today, even those seriously ill,
receiving various tests, treatments and
medications, are going home to huge
hospital bills they thought were covered
by Medicare or their insurance. Instead of being admitted as “Inpatient”
for overnight stays, more patients are
quietly being classified “Observation/
Outpatient Status,” subsequently getting charged for 20-100% of the bills
normally paid by Medicare Part A if
admitted as “Inpatient.” If additional a
Skilled Nursing/Rehab stay is required,
Medicare requires a three-day hospital
Inpatient stay before covering any of
that bill too!
Be Proactive:
Before check-in, ask or call your doctor
to see if you’re being checked in under
“Observation/Outpatient” or “Inpatient”
status. Ask when and how that “status”
could change.
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