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HHS announces Medicare premium, deductibles for 2005

Patient Financial Services Weekly Advisor, September 10, 2004

HHS announced September 3 the Medicare premium, deductible, and coinsurance amounts to be paid by Medicare beneficiaries in 2005.

The new premiums, approximately the same as the actuarial forecast published in March for the Medicare Trustees Report, reflect general growth in healthcare costs, higher payments to physicians and Medicare Advantage coordinated care health plans under the Medicare Modernization Act (MMA) and building trust fund reserves.

Under the MMA, Medicare enrollees are benefiting from improved access to physician services, new preventive and health screening benefits, more Medicare Advantage plan choices, and better benefits/lower out-of-pocket costs in many Medicare Advantage plans.

The monthly premium paid by beneficiaries enrolled in Medicare Part B, which covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items, will be $78.20, an increase of $11.60 over the $66.60 premium for 2004.

To read the full announcement, click here.

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