Part B Insider (Multispecialty) Coding Alert
Premiums Increase For 2004
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Once again, the Department of Health and Human Services has increased the Medicare premium, deductible and coinsurance amounts beneficiaries have to pay.
According to figures released Oct. 16, Medicare beneficiaries will pay an $876 deductible for Part A services in 2004, up $36 from the $840 they pay now. The Part B monthly premium will jump 13.5 percent next year, from $58.70 to $66.60. Deductibles and premiums are updated each year according to a statutory formula.
The coinsurance for extended inpatient hospital stays will be $219 per day for days 61 through 90, and $438 per day after the 90th day. The 2003 figures for those payments are $210 and $420, respectively. For skilled nursing facility residents, the daily coinsurance for days 21 through 100 of a stay goes from $105 to $109.50 next year.
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