Medicare Long Term Care Insurance Options - Caregiverlist

Department of Health and Human Services 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 $1,184.00 Annual Deductible
Days 61 – 90: You Pay $296 per day
Lifetime Reserve Days (60 days over your lifetime): $592 per day

Skilled Nursing Facility (Nursing Home)

First 20 Days: You Pay $0
Days 21 – 100: You Pay $148 per day
All Costs for Each Day After Day 100 in a Benefit Period

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 no more than $5.00 per Prescription
Respite Caregiver to relieve the usual Caregiver: You pay 5%

Note: All costs are for 2013

Medicare Medical Insurance

Cost

Medicare supplemental insurance helps pay the "gap" between what Original Medicare (Medicare Parts A and B) pays for your health care and what you pay out of your own pocket, including deductibles, copayments and coinsurance.

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.