Enrollment for 2009 Starts Now

Every year in mid-November, enrollment for Medicare and Medicare Supplements begins.  It can be a confusing time due to changes in coverage, changes in premiums and any fine print that comes along with the process.

Many seniors on Medicare are very worried about premiums going up for 2009.  That is understandable, especially if a person is on a fixed income with very little or no wiggle room for extras.

The good news for 2009 is that the Centers for Medicare and Medicaid Services (CMS) has announced that Medicare Part B premiums, which cover some services that Part A does not cover including outpatient services, doctor services and other services.  This means that any individual earning under $85,000 per year or any couple earning under $170,000 per year will pay the same Part B premiums that they paid in 2008. 

Premiums are based on income so some premiums could be higher if you have a higher income.  One important issue to think about is skilled nursing care, since Medicare and sometimes Medicaid will only pay for a specific amount of care.  The care has to be administered after a minimum stay in the hospital and it also leaves a person responsible for part of the bill (currently at $128 per day) out of their own pocket after the first 60 days of care.

That is where it is important to look at additional care in the form of supplements, especially since Medicare will only cover 100 total days.  Most seniors do not think they will ever need much care such as a nursing home or long term care facility, but statistics show that a high percentage of seniors spend up to 2.5 to 3 years in a nursing home or long term care facility between the time that they become eligible for Medicare and the time that they pass away.

So, during this time of the year while you can choose the coverage you feel is best, be sure to look at what is not covered and research options to fill the gaps.

Filed under: General-Medicare

Tags: General-Medicare, Long-Term Care, medicare open enrollment, medicare premiums, Nursing Home