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ENGEL: MEDICARE PART B PREMIUMS STAYING THE SAME FOR 2014

Congressman Eliot Engel said that the Medicare Part B standard premium will be $104.90 in 2014, the same as in 2013. In addition, the Part B deductible for 2014 will remain the same at $147.

Rep. Engel said, “This is good news for people using Part B to cover their physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and other items.

“In a time when medical expenses seem only to go up this will help our seniors cope with their daily expenses.”

The Congressman, a senior member of the Health Subcommittee of the Energy and Commerce Committee, also said with the Affordable Care Act, more than 7.1 millionseniors and people with disabilities who reached the coverage gap, or “donut hole” in Medicare prescription drug coverage have saved a total of $8.3 billion on their prescription drugs.

In the first nine months of 2013, nearly 2.8 million people nationwide who reached the donut hole have saved $2.3 billion, an average of $834 per beneficiary.  In 2014, people with Medicare Part D prescription drug coverage will receive discounts and coverage for about 53 percent of the cost of brand name drugs and coverage for 28 percent of the cost of generic drugs.  Coverage for both brand name and generic drugs in the gap will increase until 2020, when the ‘donut hole’ will be closed.  

“With savings like these,’ said Rep. Engel, “I find it hard to understand why anyone would be against the Affordable Care Act.”

For those who pay for Medicare Part A, the premium will drop by $15 next year to $426. Part A pays for inpatient hospital stays, skilled nursing facilities, and some home health care services. However, about 99 percent of Medicare beneficiaries do not pay a premium for Part A since they have at least 40 quarters of Medicare-covered employment.

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