Medicare does not pay for long-term care. Medicaid does pay for long-term care in nursing homes only. A few states, such as Vermont, have recently begun offering Medicaid long-term care benefits both in the home and in nursing homes. Medicare is a health insurance program for Americans age 65 or older and people under age 65 with certain disabilities and people of all ages with End-Stage Renal Disease (Permanent kidney failure requiring dialysis or a kidney transplant).
Medicare Hospital Insurance
Cost
Premium FREE for most people who qualify (if you or a spouse paid Medicare taxes while working, you qualify)
Hospitalization Costs (per hospital stay)
- First 60 Days: You Pay $1,024.00 Annual Deductible
- Days 61 – 90: You Pay $256 per day
- Lifetime Reserve Days (60 days over your lifetime): $512 per day
Skilled Nursing Facility (Nursing Home)
- First 20 Days: You Pay $0
- Days 21 – 100: You Pay $128 per day
Home Health Care (Skilled Care Approved by a Medical Doctor)
Includes Registered Nurse, Physical Therapist, Occupational Therapist and Speech Therapist, it DOES NOT INCLUDE Non-Medical Custodial Care provided by Senior Home Care Agencies:
- First 100 visits: You Pay $0
Hospice Care
- Outpatient Prescriptions: You Pay $5.00 per Prescription
- Respite Caregiver to relieve the usual Caregiver: You pay 5%
Medicare Medical Insurance
Cost
Standard Monthly Premium of $135
Co-payment
20% for Medicare approved costs Includes:
- Physician’s Visits
- Some Diagnostic Tests
- Ambulance Services
- Outpatient Surgery
- Diagnostic Procedures
- Durable Medical Equipment (Wheel Chairs, Hospital beds, etc.)
Note: Part-time Skilled Home Health Care of a Homebound Patient (Registered Nurse, Physical Therapist, Occupational Therapist, Speech Therapist) costs $0.
Note: All costs are for 2008
