Category Archives: Medicare Posts

Why Your Medigap Company’s Financial Rating Matters

Many insurance agents and insurance companies know that price sells. Unfortunately, in the race to the bottom on price, many will sell a policy on price alone. It makes for an easy sale for them. But this can be very costly to you in the long run. The Medigap company rating with companies like A.M. Best plays a vital role in determining long-term rate stability. A low rate today does not guarantee rate stability tomorrow!

Medigap plans are the absolute easiest insurance product to comparison shop. That is because the coverage for any particular plan is identical from company to company. You never have to worry whether you are comparing apples to apples on Medigap plans. The Medigap plan you choose – whether Plan G or Plan F, or another plan – offers the same coverage no matter what company name is on your insurance card.

When you are trying to choose from the 25-plus carriers that offer plans in your area, price should not be the lone determining factor. If you are in your Open Enrollment or a Guaranteed Issue period, you have one chance to go with whichever company you want to. There are no medical questions to be answered during this period. You don’t want that fantastic opportunity to be wasted. There are the factors you need to consider when making that choice.

 

Company Financial Ratings Matter

The leading independent rating company for insurance carriers is A.M. Best. It is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus.

The ratings can help you determine a company’s size and stability. At Integrity Senior Solutions, we recommend carriers with a rating of B+ or higher for Medigap coverage. These companies will typically be more established and have more money in reserves than companies with a lower rating.

 

Longevity Matters

With over 22 years in the Medigap business, we have seen companies come and go. Even some very strong companies, like AFLAC, have entered the Medigap market only to leave it shortly thereafter.

Over the years there have been many small companies that enter new Medigap markets. As of the writing of this article, we have seen three new small companies come in with some really low rates in the last few months. Two of those three are companies we had never heard of before.

Consider Both Ratings and Longevity Together

It is important to consider the financial rating along with the history of the carrier. Just as we don’t recommend low-rated companies, we also do not recommend companies that are new to the Medicare market.

We have seen many times where even an established company in one state will expand to a new state with unrealistically low rates. Each company has a team of actuaries who determine what the anticipated loss ratio will be for their company. Loss ratio is how much claim money and expenses are being paid out versus how much premium money is coming in. The percentage of expenses to income is the loss ratio. We have software that shows us the current financial ratings and loss ratio of every company in the market. We can share that information with you, saving you hours of research on your own!

The actuarial process of determining what the anticipated loss ratio will be is very advanced and complicated. Some companies nail it. Others miss it by a mile. When they do miss it, it means that the loss ratio is going to be very high. It also means that a large rate increase is very likely coming soon.

Don’t Get Trapped With a Bad Company

medigap company financial rating

Here is a scenario where a high loss ratio and rate increases would be problematic: Mary is turning 65 and in her Open Enrollment period. She has developed a chronic health condition that will always be there. Right now in Open Enrollment, Mary can choose coverage with any Medigap company she desires without having to be underwritten.

Mary chooses to go with the lowest available price on the plan she chooses. She does no research and gets no help from an independent agent. For the first 12 months, Mary’s rate is locked in. But because of the company not pricing themselves appropriately for the market, she gets a rate increase of 20% when her rate lock is over. This increase hits her budget hard because she is on a fixed income.

The problem is – with her chronic health condition – she will likely not qualify to go with a cheaper company to save money. She is outside of her Open Enrollment – which lasts 6 months from Medicare Part B eligibility.

Annual Election Period (AEP) Won’t Help!

Because of the tremendous amount of marketing in the fall about the Annual Election Period, many people assume they can switch plans during that time. Some well-known companies even use misleading advertising and refer to AEP as “Open Enrollment.” It is not. AEP only applies to changes in your Part D drug plan or Medicare Advantage plan. Outside of Open Enrollment or Guarantee Issue periods, the only way to change Medigap plans is to go through an underwriting process. Since Mary has a chronic condition, she is very unlikely to qualify for changing companies or plans.

Mary does have the option during AEP of dropping her original Medicare and going with Medicare Advantage. As long as she lives in the service area of the plan and does not have End Stage Renal Disease, she can make that switch. But Medicare Advantage is a Medicare replacement plan. What if her doctors who provide her care are not in her network under that Medicare Advantage plan?

We get a lot of calls from people looking to leave their Medicare Advantage plan to go back to original Medicare once a bad report comes from the doctor. I cannot remember the last time we got a single call from someone with a chronic health problem who wanted to leave their Medigap for a Medicare Advantage plan. For more on how Medigap plans and Medicare Advantage compare, check out our article at this link.

 

Don’t Pay More For a Name Brand

At the same time that it is important to look for an established, highly-rated company, there is also no need to pay a higher premium to go with a well-known brand. The number one selling company in America for Medigap plans is UnitedHealthcare. Yet, in many markets and on many plans, we see them $30-60 more for the exact same coverage. It costs a lot of money for all that advertising they do. There is no need for you to pay more for your Medigap coverage just to support their outrageous advertising costs.

There is no difference in Medigap coverage because of the name of the company! We often get asked about Silver Sneakers, and UHC offers a Silver Sneakers program with their Medigap plans. The Medigap coverage is the same, but they add this enticement. Here is a snippet from another of our articles that addresses this:

A side note about Silver Sneakers – there are a couple of companies that do offer those memberships for “free” when you take their Medigap coverage. The problem is that those companies are usually $50-60 more per month than other companies for identical coverage. So it is not free. They are just rolling the cost of it into the premium in hopes that you will be enticed and drawn by their well-known brand name company.

It’s not worth it. Save on the premium and buy your own membership. Most gyms offer discount plans for adults age 60 and over. It will cost you way less than the difference in premium. We did our own research. Most gyms we have checked with offer memberships for anywhere from $8 – $22 per month for Seniors, and even less per person for a couple. Don’t pay $60 more for your Medigap plan to get a brand name and membership that is worth less than $22.

All the Medigap plans are standardized by law. A company cannot change any of the benefits of those plans A-N. So whether you have a Cigna Plan G or a Mutual of Omaha Plan G or Aetna Plan G, the benefits are identical.

Are Smaller Companies Safe to Work With?

As we mentioned, it is important to check the Medigap company financial rating of the company you are considering. We can help with this information. You don’t have to automatically disqualify a company that you’ve never heard of. Any company with a B+ or better rating is capable of handling a large influx of claims all at once. If they also have a good rate history, we have no issues with recommending them. My own mother has been with a B+ rated company for 4 years that you’ve likely never heard of. They have paid their claims like clockwork.

A smaller company may not be as well-known to you. One reason is that many of them depend on the agents to get the word out about their plans. They have chosen not to spend millions and millions on advertising. That savings is passed on to you in the form of lower premiums.

Big and Small Companies ALL Pay the Same Way

You may know someone that has a big brand company and loves to brag on how well it pays. That’s no big deal! ALL the companies have to pay well.

When Medicare covers their 80% of your doctor charges, your Medigap company HAS TO pay their 20%. They cannot decline their portion. They cannot dispute their portion.

Medicare passes the claim to your Medigap company seamlessly through a process called crossover filing. It is done electronically. It is one of the main reasons we rarely have to follow up on claims with Medigap plans. Your doctor files, Medicare pays, your Medigap plan pays, period.

 

Finding the Best Companies for Medigap

That last scenario with Mary sounded pretty awful. But it is not uncommon. By working with an independent agency like ours, we can provide you with the A.M. Best rating of any company. We can also tell you how long they have been in the Medicare business and what their rate history looks like.

We get asked often if we represent all of the available companies in a particular area. While we do offer most companies, we have found that some companies do not meet our high standards on their rate increase history or customer service. We only want the best for our customers.

There are many very strong, very well-known companies that have a long history, including reasonable rate increases from year to year. If you have been diagnosed with a chronic health condition or have a history of it, you will want to find a company that fits that criteria. Even if they are a few dollars more in the beginning, in the long run, it could save you substantially.

As I mentioned, we have special software that allows us to see every company’s rate, financial rating, rate increase history, and history in the market. We can share this with you by utilizing our screen sharing option in real time. We can also provide a PDF comparison for you to look at.

Give us a call and let us go to work for you. Our service is free. No matter what company you choose, you pay the same whether you call the company directly or utilize the many services of an independent agent.

Call us today at 888-228-6119 or use the form to send us a quick message!

 

 

 

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Best Medigap Plans – How To Save Money On Your Plan

Finding the Best Medigap Plans

As I was driving in to the office this morning, I was thinking about how computers and the internet have changed the way we buy and sell insurance. When I first started the insurance business in 1996, we would go sit down with folks face to face. That was how people shopped for the best Medigap plans and coverage. I would have to flip through the rates of every carrier to see who had the best price for where they lived.

But with the advent of technology and computers, that has all changed. The days of you having to get dressed up and make sure the house is spiffy for a stranger to come in are behind us. You can work directly with an independent agent over an internet connection and/or phone wearing your bathrobe while sipping coffee if you want to! You don’t have to leave the house and you don’t have to let a stranger in.

Technology Has Made Things Better

I was thinking about what I miss about those days, Best Medigap Plans by phonethough. I do love that we can help so many more people now. And we work all across the United States now. We are not limited by how far we are willing to drive to see someone face to face. But I do miss those times of seeing the look on a widow’s face when she realizes how much she just saved by changing Medigap companies without any change in coverage. I especially miss the times of getting a hug on the way out the door for having helped someone save so much! I love my “job” and that I get to make a living by genuinely helping people.

As an independent agency, Integrity Senior Solutions uses a software system that allows us to compare every available Medigap plan in your ZIP code side by side. Be sure to check the YouTube video at the bottom of this post for more information.

We can give you rate comparison information quickly and easily over the phone. We can also allow you to watch our computer screen as we share it to your computer or tablet screen in real time. You can see our screen, but we can’t see yours.

 

The Most Important Factor When Comparing Medicare Supplement Prices

Here is the biggest factor in comparing Medigap plans among the companies – each lettered plan offers the same exact coverage from company to company. A company cannot alter the coverage in any way. Here is the official Medicare comparison chart for Medigap plans:

Medigap Comparison Chart for best medigap plans

The chart shows what each plan covers. Each company must adhere strictly to that coverage. A company can offer extras like a Silver Sneakers membership or discounts on eyewear. But the coverage for medical care and covering the gaps in Medicare Part A and B cannot vary one bit. Massachusetts, Minnesota, and Wisconsin have different standardized plans. Click here to see how those states differ.

A side note about Silver Sneakers – there are a couple of companies that do offer those memberships for “free” when you take their Medigap coverage. The problem is that those companies are usually $50-60 more per month than other companies for identical coverage. So it is not free. They are just rolling the cost of it into the premium in hopes that you will be enticed and drawn by their well-known brand name company.

It’s not worth it. Save on the premium and buy your own membership. Most gyms offer discount plans for adults age 60 and over. It will cost you way less than the difference in premium. Most gyms we have checked with offer memberships for anywhere from $8 – $22 per month for Seniors, and even less per person for a couple. Don’t pay $60 more for your Medigap plan to get a brand name and membership that is worth less than $22.

Pricing Difference on Medigap Plans Between the Companies

Weiss Ratings is a company that rates the financial strength of various financial entities including banks and insurance companies. In 2011, they did an exhaustive study of Medigap insurers and their product offerings. They analyzed 165 insurers nationwide and compared over 5.6 million premium rates on various Medigap plans.

The difference in rates was stunning. This is information you need to be aware of to make the best financial decision regarding your healthcare choices on Medicare. Here is a breakdown of their findings:

2011 Medicare Supplement Rate Range

2011 Medicare rate disparity findings

 

Some examples of dramatic pricing differences include:

  • In Florida, Plan C costs $4,647 with Humana Health Insurance Company of FL, but only $2,880 with State Farm Mutual Automobile Insurance Company, representing a 61% difference in cost.
  • Plan C in California would cost $5,133 with United Teacher Associates Insurance Company, which is three times more than the $1,693 with Globe Life & Accident.
  • In Maine, premiums for Plan F vary from a low of $1,916 with Globe Life & Accident to a high of $3,590 with Humana Insurance Company, representing an 87% difference in cost.
  • Plan F rates in Missouri run from $955 with Old Surety Life Insurance Company to $3,002 with Standard Life and Accident Insurance Company, a 314% difference.

Medicare Says You Should Compare Plans

Every year, the Center for Medicare and Medicaid Services puts out a publication about Medicare. It is called Medicare and You. Here is page 100 from the 2016 Medicare and You book. Notice in the middle it says in bold lettering, “Different insurance companies may charge different premiums for the same exact policy.”

Best medigap plan comparison

 

We Have Done the Research For You

Weiss Ratings senior financial analyst Gavin Magor commented:

“For 20 years Medigap rates have varied due to regional differences in pricing methodologies, state regulations, and the cost of health care. While we expect these differences in pricing among plans and across regions, we find that there is no justification for such wide price differences for exactly the same product in the same area. Consumers who research their options are likely to find opportunities for significant cost savings when purchasing Medigap insurance.

You can spend hours or days doing that research on your own. Or we can do a quick comparison of all of the companies side by side for you in minutes. Call us at 1-888-228-6119 for a free consultation and comparison. We work with people like you to compare all the plans every day.

 

Finding the Best Medigap Company

Many people go immediately to the big brand names for buying products. People – myself included – look for quality when shopping around. Cheap is not always better. But that is not as necessary in Medigap insurance. Let me explain why.

As we have covered here and in other articles, the Medigap plans are standardized. A Plan F from UnitedHealthcare is identical to a Plan F from Cigna or Mutual of Omaha, or any other company for that matter. There is no need to pay more to get a popular brand. One of those companies I just named spends millions and millions every year on TV ads, spokespersons, mass mailings, blimps – all kinds of advertising. And their high premium reflects their high advertising costs.

It is important to note that all Medigap plans are going to have potential increases in premiums from year to year. Any agent that tells you otherwise is lying to you. Run away from them. That’s why it is also important to know a company’s rate history. Some companies will close a book of business and start a new company to try to get fresh enrollees in their plans. The problem is that those old plans will still have people stuck in them and those rates will go up, up, up over time. We have seen which companies have pulled this questionable practice and can help you avoid getting caught in their trap the next time they do it.

Some companies will close a book of business and start a new company to try to get fresh enrollees in their plans. The problem is that those old plans will still have people stuck in them and those rates will go up, up, up over time. We have seen which companies have pulled this questionable practice and can help you avoid getting caught in their trap the next time they do it.

Cheaper is Not Always Better

As important as it is to stay away from the overpriced big brands, it is just as important to be wary of small companies or companies with low ratings. With the software that we use, we can see the rate increase history of every company. We also can see how long they have been in the market. And most importantly, we can see what their financial strength is.

Most of the time, we can find companies rated “A” by the rating companies that are in the top 3-4 in premium. In many cases, they will be the lowest on premium.

Having been in the Medigap business for over 21 years, I have seen small companies – especially “B” rated companies – come in with low-ball rates. Once those companies get some business on the books, they usually start raising the rates. Once you are outside of Open Enrollment or Guarantee Issue Periods for Medigap coverage, you will have to qualify medically to change Medigap plans.

Many times we have seen where someone took a cheap rate with a new, low-rated company to try to save a little, only to have that rate go up significantly once that smaller company sees they cannot maintain low rates and be profitable. If that person has developed any health issues, they might not qualify to move to a cheaper plan. So now they are stuck at whatever rate that company decides to go to. Their health could prevent them from taking advantage of a better price on their Medigap plan.

 

The Secret About Medigap Pricing the Companies Don’t Want You To Know

Check out this YouTube video below. We give a couple of real examples of how we have saved people over a thousand dollars a year for identical coverage. I also show you how our software works. You can see how we can compare all of the companies for you at one time. It is well worth a few minutes of your time to watch it.

Once you watch it, be sure to click the SUBSCRIBE button on the bottom right of the screen to find more of our teaching videos about Medicare and Medigap.

 

Call us at 1-888-228-6119 for your no-obligation quote and to have all your questions answered. You can also leave a question for us in the form to the right.

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Prescription Drug Plans For Medigap

Medicare Supplement (Medigap) insurance policies do not provide prescription drug coverage. If you have a Medicare Supplement plan, you can still get drug coverage through a separate prescription drug plan through companies that offer drug plans such as Silverscript or Humana. Prescription drug plans are also known as Part D of Medicare.

 

Prescription Drug Coverage Under Legacy Medigap Plans H, I, and J

Up until 2010, Medicare supplement plans H, I, and J offered drug coverage as a part of their coverage. Those plans were eliminated in 2010 and replaced with plans K through N – none of which offer prescription drug coverage.

You can continue to receive your drug benefits from one of the discontinued plans if you still have it in force. But you cannot have a Plan H, I, or J and also have a Part D drug plan unless you have your insurance company to remove the prescription drug coverage from your Medigap plan. This could also change your monthly premiums.

Those legacy plans are not getting new, healthy enrollees coming into the plans, and that is a problem. You can expect the premiums on those three plans to continue to rise in the future. Insurance companies need new, healthy policyholders to help keep premiums low. That is not an option since those legacy plans are no longer available for sale.

There are better options available today if you are on an older plan. You can call our office at 1-888-228-6119 to speak with a licensed independent agent about your situation.

 

How To Get Prescription Drug Coverage

If you are enrolled in Medicare and have a Medigap plan other than H, I, or J, you have two options. First, you can enroll in a stand-alone Part D prescription drug plan. Your second option is to move to a Medicare Advantage plan. Although over 80% of Medicare Advantage plans have drug coverage included, most Seniors are not willing to give up the freedom and autonomy they have with a Medigap plan to go onto a Medicare Advantage plan with all of its restrictions. You cannot be enrolled in a Medicare supplement and a Medicare Advantage plan at the same time.

There are only certain situations under which you can enroll in a Part D plan, such as turning 65 or going onto Part B of Medicare for the first time. In both of those cases, you can enroll three months before or three months after the month that your Part B coverage begins. You can also enroll or change plans each year during the Annual Election Period (AEP). That period runs from October 15 through December 7. AEP restrictions apply to Part D or Medicare Advantage plans only. With your Medigap plan, you can make changes to your plan any time of year.

 

Enrolling in Standalone Prescription Drug Plans

There are a lot of prescription drug plans to choose from, and you don’t want to shop on premium alone. If you need a standalone Part D prescription drug plan, we recommend you call Medicare directly at 1-800-MEDICARE (633-4227). You can also visit them at http://medicare.gov.

If you give them a list of your medications, they will give you the lowest priced plan based on what you are currently taking and where you live. They are totally unbiased and willing to help. One recommendation is to call them late at night or very early in the morning. They are available 24 hours a day.

We are also available to help you choose a drug plan. Call us today at 1-888-228-6119. We can compare your drugs and show you the options available.

I recommend going with a company with a high star rating from Medicare. These rating come from the customers themselves. A company with a 3.5-star rating or higher, such as Silverscript or Humana, generally do a better job with customer service and claims.

 

In this YouTube video, we show you how to navigate the Medicare.gov website to do your own Part D comparison and enrollment if you would like to do it yourself:

 

The advice on this website is informational. Please contact us before making a purchasing decision to help determine what is best for your individual situation. You can contact us at 888-228-6119.

Keith Murray is an independent agent and the founder of Integrity Senior Solutions Inc. He has over 21 years of experience working with Seniors to meet their insurance and financial needs.

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2017 Medicare Deductibles, Premiums, and Co-Pays

2017 Medicare Deductibles, Premiums, and Co-Pays

The Center for Medicare and Medicaid Services (CMS) just released the new 2017 Medicare deductibles, co-pays, and Part B premium amounts. Most important for our clients include: Part B Deductible – from $166 to $183 for 2017

This means that if you are on a Plan G (our most popular plan in our office), Plan N, or Plan D, you will pay the first $183 annually for Part B (outpatient and physician) services. If you have a Plan F, this means that the higher deductible will be added into the other calculations that determine the Plan F rates. This means that again this year, we expect to see Plan F premiums increase at a higher percentage rate than Plan G or N.

 

The information below was copied from the release from CMS. It covers all the changes in detail.

 

 

2017 Medicare Parts A & B Premiums and Deductibles Announced

Date
2016-11-10
Title
2017 Medicare Parts A & B Premiums and Deductibles Announced
Contact
[email protected]

2017 Medicare Parts A & B Premiums and Deductibles Announced

Today, the Centers for Medicare & Medicaid Services (CMS) announced the 2017 premiums for the Medicare inpatient hospital (Part A) and physician and outpatient hospital services (Part B) programs.

Medicare Part B Premiums/Deductibles

Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items.

On October 18, 2016, the Social Security Administration announced that the cost-of-living adjustment (COLA) for Social Security benefits will be 0.3 percent for 2017. Because of the low Social Security COLA, a statutory “hold harmless” provision designed to protect seniors, will largely prevent Part B premiums from increasing for about 70 percent of beneficiaries. Among this group, the average 2017 premium will be about $109.00, compared to $104.90 for the past four years.

For the remaining roughly 30 percent of beneficiaries, the standard monthly premium for Medicare Part B will be $134.00 for 2017, a 10 percent increase from the 2016 premium of $121.80. Because of the “hold harmless” provision covering the other 70 percent of beneficiaries, premiums for the remaining 30 percent must cover most of the increase in Medicare costs for 2017 for all beneficiaries. This year, as in the past, the Secretary has exercised her statutory authority to mitigate projected premium increases for these beneficiaries, while continuing to maintain a prudent level of reserves to protect against unexpected costs. The Department of Health and Human Services (HHS) will work with Congress as it explores budget-neutral solutions to challenges created by the “hold harmless” provision.

“Medicare’s top priority is to ensure that beneficiaries have affordable access to the care they need,” said CMS Acting Administrator Andy Slavitt. “We will continue our efforts to improve affordability, access, and quality in Medicare.”

Medicare Part B beneficiaries not subject to the “hold harmless” provision include beneficiaries who do not receive Social Security benefits, those who enroll in Part B for the first time in 2017, those who are directly billed for their Part B premium, those who are dually eligible for Medicaid and have their premium paid by state Medicaid agencies, and those who pay an income-related premium. These groups represent approximately 30 percent of total Part B beneficiaries.

CMS also announced that the annual deductible for all Medicare Part B beneficiaries will be $183 in 2017 (compared to $166 in 2016). Premiums and deductibles for Medicare Advantage and prescription drug plans are already finalized and are unaffected by this announcement.

Since 2007, beneficiaries with higher incomes have paid higher Medicare Part B monthly premiums. These income-related monthly premium rates affect roughly five percent of people with Medicare. The total Medicare Part B premiums for high-income beneficiaries for 2017 are shown in the following table:

Beneficiaries who file an individual tax return with income: Beneficiaries who file a joint tax return with income: Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $85,000 Less than or equal to $170,000 $0.00 $134.00
Greater than $85,000 and less than or equal to $107,000 Greater than $170,000 and less than or equal to $214,000 53.50 187.50
Greater than $107,000 and less than or equal to $160,000 Greater than $214,000 and less than or equal to $320,000 133.90 267.90
Greater than   $160,000 and less than or equal to $214,000 Greater than $320,000 and less than or equal to $428,000 214.30 348.30
Greater than $214,000 Greater than $428,000 294.60 428.60

 

Premiums for beneficiaries who are married and lived with their spouse at any time during the taxable year, but file a separate return, are as follows:

Beneficiaries who are married and lived with their spouse at any time during the year, but file a separate tax return from their spouse: Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $85,000 $0.00 $134.00
Greater than $85,000 and less than or equal to $129,000 214.30 348.30
Greater than $129,000 294.60 428.60

If you are paying a higher premium for your Medicare Part B, see our article on How To Appeal a Part B Premium Penalty.

Medicare Part A Premiums/Deductibles

Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment.

The Medicare Part A inpatient hospital deductible that beneficiaries pay when admitted to the hospital will be $1,316 per benefit period in 2017, an increase of $28 from $1,288 in 2016. The Part A deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period. In 2017, beneficiaries must pay a coinsurance amount of $329 per day for the 61st through 90th day of hospitalization in a benefit period and $658 per day for lifetime reserve days. For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $164.50 in 2017.

Enrollees age 65 and over who have fewer than 40 quarters of coverage and certain persons with disabilities pay a monthly premium in order to receive coverage under Medicare Part A. Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage may buy into Part A at a reduced monthly premium rate, which will be $227 in 2017, a $1 increase from 2016. Uninsured aged and certain individuals with disabilities who have exhausted other entitlement and who have less than 30 quarters of coverage will pay the full premium, which will be $413 a month, a $2 increase from 2016.

Part A Deductible and Coinsurance Amounts for Calendar Years 2016 and 2017 by Type of Cost Sharing
2016 2017
Inpatient hospital deductible $1,288 $1,316
Daily coinsurance for 61st-90th Day 322 329
Daily coinsurance for lifetime reserve days 644 658
Skilled Nursing Facility coinsurance 161 164.50

For more information on the 2017 Medicare Parts A and B premiums and deductibles (CMS-8062-N, CMS-8063-N, CMS-8064-N), please visit https://www.federalregister.gov/public-inspection.

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Plan N Medigap Plan

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