Medicare

The Centers for Medicare & Medicaid Services (CMS) administers Medicare, the nation's largest health insurance program, covering nearly 40 million Americans. Medicare is a health insurance program for people 65 years of age and older, some disabled people under 65 years of age, and people with permanent kidney failure.

Medicare Premiums for 2008

Part A: (Hospital Insurance) Premium

• Most people do not pay a monthly Part A premium because they or a spouse has 40 or more quarters of Medicare-covered employment.
• The Part A premium is $233.00 for people having 30-39 quarters of Medicare-covered employment.
• The Part A premium is $423.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.

Part B: (Medical Insurance) Premium

• The Part B premium is $96.40 per month* for individuals with income under $82,000.

* Note: If your income is above $82,000 (single) or $164,000 (married couple), then your Medicare Part B premium may be higher than $96.40 per month.

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