The 2017 Medicare rates have been released for Medicare Part A and Medicare Part B. It is important to be aware of changes every year that occur with Medicare Part A and Medicare Part B rates, so that you know exactly how much you are responsible for, before and after utilizing coverage.

Below you will find two charts outlining what Medicare will cover in 2017, and what you will be responsible for paying.

Medicare Part A is hospital insurance, which covers the costs associated with confinement in a hospital or skilled nursing facility. The 2017 Medicare rates for Part A are as follows:

• When you are hospitalized for 1-60 days, Medicare will cover most confinement costs after the required Medicare deductible of $1,316 is made.
• When you are hospitalized for 61-90 days, Medicare will cover all eligible expenses, after you pay a per-day copayment of $329 a day, which can amount to as much as $9,870.
• When you are hospitalized for 91-150 days, Medicare will cover all eligible expenses after you pay a per day copayment of $658 a day, which can amount to as much as $39,480.
• When you are hospitalized for 151 days or more, Medicare will not cover any expenses and you will be responsible for all costs.

Medicare Part B is medical insurance, which covers the costs associated with physician services, outpatient care, tests and supplies. The 2017 Medicare rates for Part B are as follows:

• Once you pay the $183 annual deductible for Medicare, Medicare Part B will cover 80% of approved medical expenses and you will be responsible for the remaining 20% of the approved amount.
• Generally Medicare Part B will pay 100% of approved laboratory services.
• Medicare Part B will cover 100% of approved amount of home healthcare services, and 80% of approved durable medical equipment costs. You will be responsible for the remaining 20% of approved durable medical equipment costs.
• For outpatient hospital treatments, Medicare Part B will cover based on outpatient procedure payment rates.
• For blood transfusions, Medicare Part B will cover 80% of approved amount of blood, after the first 3 pints. You will be responsible for paying for the first 3 pints, and 20% of the cost of the remaining amount.
• For any excess doctor charges, you will be responsible for 100% of costs.

As you can see it’s important to understand exactly what is and what is not covered by Medicare. Call the Medicare specialists at Plan Medicare 516-900-7877, and find out how you can get help covering the remaining expenses with a Medicare Supplement and Prescription Drug Plan.