Changes in 2018 Medicare Costs

CHANGES AHEAD

We, at Claeys Group Insurance, would like to take this opportunity to wish you a Happy New Year. With the new year comes hopes, dreams, and changes for the individual.

However, when speaking of Medicare, the new year may not bring hopes and dreams, but it will certainly bring changes. These changes include increases in Medicare deductibles, copays, and premium. If you are on Medicare, these changes could be significant for you and will be good for you to know—if, simply, to amaze your friends and family with your knowledge.

2018 MEDICARE PART A CHANGES

To begin, the Medicare Part A deductible has increased for 2018. But before we can understand what the increase means for you, we need to, first, understand what Medicare Part A is.

Medicare Part A provides coverage for hospitalization, hospice, home health, and skilled nursing. (For more specifics on this coverage, see How Does Medicare Work?) If you have Original Medicare without a supplement, that Medicare Part A deductible means that if you enter the hospital, you will pay a deductible of $1,340. This deductible applies for each benefit period hospitalization of days 1-60.
For 2018, the Medicare Part A deductible has been raised from the 2017 deductible of $1,316. That is change number one for 2018.
Change number two concerns the Medicare Part A copays. If, for example, you are hospitalized for an extended period, you will pay a per-day copay of $335 for days 61 – 90, which is an increase from the 2017 copay of $329. However, Medicare also covers hospitalization for days 91 – 150, but that experience comes with a 2018 copay of $670 for each day, while the 2017 per-day copay for that period was $658. (If your head is swirling in an attempt to grasp all of those numbers, hang in there, we will summarize with an easy-to-follow chart soon.)

2018 MEDICARE PART B CHANGES

Medicare Part B, which covers medical insurance (including doctor charges, outpatient medical [such as labs, tests, x-rays, MRIs, CT scans, and durable medical equipment], preventive services, and ambulance [among other things]), has its own deductible. This deductible, unlike the Part A deductible, is an annual deductible. For 2018, that deductible remains the same as it was for 2017—$183.
After meeting the Part B deductible, the individual with Original Medicare (without a supplement) will pay 20% of the remainder of his Part B costs for the rest of the calendar year. This remains the same as in 2017.

OVERVIEW OF 2018 MEDICARE CHANGES

To see these differences more clearly, see the chart below:

Year 2017 2018
Medicare Part A
Deductible (Days 1- 60) $1,316 $1,340
Copay: Days 61 – 90 $329 $335
Copay: Days 91 – 150 $658 $670
Medicare Part B
Deductible $183 $183
Copay 20% 20%

2018 MEDICARE PART B PREMIUM

While there are changes for 2018, not everything is changing. For example, the Medicare Part B monthly premium will remain at $134. (However, anyone enrolling onto Medicare Part B prior to 2016 has been grandfathered at a lower monthly premium.)

WHAT THESE CHANGES MEAN FOR YOU

So, what do these changes mean for you? If you have a Plan F Medicare supplement, none of the Part A and Part B changes (outside of the premium) will affect you, as you will still have zero out of pocket for hospitalization and other medical charges (including doctor charges). If you possess a Plan G supplement, your annual deductible will remain at $183, while other supplements will change according to their gaps in coverage. (To discover which Medicare supplement is best for you, see the article appropriately entitled Which Supplement Is Best for You?)
If you have Original Medicare, you will be directly affected by each of the changes for 2018. However, if you possess a Medicare Advantage Plan, these changes will not directly affect you, but they WILL affect Advantage Plans going forward. (If you possess a Medicare Advantage Plan, you may be interested in Keys to Your Best Medicare Advantage Plan.)

HOPE FOR GOOD CHANGES AHEAD FOR YOU

Changes are expected, and Medicare does not disappoint, as it offers changes each year. But, hopefully, any other change you experience in 2018 will be for your very best. We at Claeys Group wish that for you.


Bill BrannonBill Brannon
16:42 30 May 24
Don McCartyDon McCarty
00:36 07 May 24
Very helpful, friendly, and knowledgeable. Plan pricing was accurate, and I was kept informed throughout the process.
Susan BleuerSusan Bleuer
11:28 02 May 24
John Claeys is a great insurance agent. He is very pleasant and professional to work with and will get you the best insurance at the lowest price. He is quick to return phone calls and resolve issues. We highly recommend him for your insurance needs.
Rick RogersRick Rogers
16:14 01 May 24
If if spent a week studying the options for Medicare and all of the choices that go along with it, I’m sure that I would still be uncertain about what to do. John does a great job of explaining all of the options, including the advantages and disadvantages of each. I recommend him highly without any reservations.
Shari BrockShari Brock
22:12 18 Apr 24
John sat down with both of us and explained everything and answered any questions we had. He researched for the best plans for us. Highly recommend!!
Eric GuvernatorEric Guvernator
03:16 16 Apr 24
With all the endless solicitations I had received as I approached my 65th birthday, I had never expected to feel so comfortable and relieved to have John guide me seamlessly through the process. I couldn’t have asked for a finer experience. Not really having a clue going into our meeting, I left having confidence that I was gifted with the perfect plan as well as an advocate in my corner.I continue to get timely explanations and guidance anytime I send a question on Medicare material.If like me you are approaching this monumental deadline, contact John and let him handle this important process. You will not be disappointed.
Judi CarrollJudi Carroll
23:28 15 Apr 24
John answered all my questions and found me a great plan at an affordable premium.
Lynn SmithLynn Smith
20:41 15 Apr 24
The change to Medicare and supplemental health insurance can be terrifying. John Claeys and The Claeys Group Insurance Services made the process unbelievably simple. John is incredibly knowledgeable and up to date on all of the latest requirements. He explained the process and my options in a very simple and concise way and easily helped guide me in making the best decision for my situation. I cannot imagine navigating this medicare system without him. I also feel confident that he will safeguard and watch my situation in the event of future changes. Knowing that he is watching out for me going forward is the best part of all!
Tena BoneTena Bone
18:06 15 Apr 24
John Claeys has been very thorough with every detail of this important decision for me and my future Healthcare. He has such a sweet and caring spirit. I can't imagine using anyone else for my insurance needs.
Dollene BrownleeDollene Brownlee
15:26 10 Apr 24
John was very helpful explaining different Medicare options
January ShubertJanuary Shubert
13:50 08 Apr 24
Excellent customer service. Professional and knowledgeable. Received what I needed and wanted at a reasonable price.
Melton TimmonsMelton Timmons
23:05 05 Apr 24
John is a great person first. As an agent he is very knowledgeable of the products and services he offers. For every question I had, he provided answers and solutions. I am very comfortable with him and if you need a capable agent, please contact John Claeys.
Rosa MartinRosa Martin
21:53 05 Apr 24
John is a very knowledgeable person in his profession. He has helped my husband, my sister, and myself to find the best affordable insurance for each of us…He made navigating through Medicare a breeze for me. He is willing to help in any way and any time of the day.Thank you John for all your help.
Johnny CoffmanJohnny Coffman
16:33 05 Apr 24
He explained the ins and outs of how Medicare works and clarified the confusion. Highly recommend John Claeys!
Mark BleuerMark Bleuer
22:48 03 Apr 24
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sheila Rhynesheila Rhyne
14:58 03 Apr 24
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Scott GillScott Gill
00:34 03 Apr 24
Highly professional with attention to detail. Felt like John was genuinely interested in matching my needs to the various options.
Karen DeemKaren Deem
21:02 02 Apr 24
John was very pleasant and professional. Medicare can be very confusing. He had all the answers for me.
Beth HamillBeth Hamill
17:52 02 Apr 24
I am so thankful for John's help and kindness...he explains everything so clearly and I feel confident that he is truthful and finding the best plan for me.
Margie FisherMargie Fisher
22:38 13 Feb 24
My husband and I have used John's services for several years, as do many of our friends. At no time has his recommendations let us down. He is kind, patient in making sure we understand our choices and was there for any and all questions afterwards. He would be our ONLY choice when it's your turn to use his insurance services. He will not let you down. What a professional! 🙂
Jerry JonesJerry Jones
02:27 08 Feb 24
John was very helpful in guiding me through the medicare choices. He explained everything thoroughly and answered all my questions.
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