Medicare Increases for 2008

Medicare Part B monthly premiums will go up 3.1% next year – from $93.50 in 2007 to $96.40 in 2008 - the smallest increase in six years. The increase was lower due to an "accounting error" that was fixed. Without the fix, 2008 premiums would be closer to $99. Health officials cited rising costs of services, programs, and drugs as reasons for premium increases.

Deductibles also will increase in 2008. Part B deductibles will go from $131 to $135 (on average), and Part A deductibles will go from $992 to $1024.

More About Medicare:

• 2008 Medicare premiums and coinsurance rates [Medicare.gov]
• Official Medicare homepage [Medicare.gov]
• Services for people on Medicare in Idaho [Idaho Dept. of Insurance]
  

SCHIP Reauthorization?

Things are moving fast in Washington with relation to the re-auth of SCHIP, the state children's health insurance program. Both the House and the Senate have passed a bill that would increase the amount of money states are getting to fund insurance for children. Unfortunately, the bill is rumored to be on President Bush's hit list for a veto.

As of June 2006, Idaho was using SCHIP funds to provide health insurance to approximately 14,000 children per month. 80% of the SCHIP costs for Idaho in 2006 were paid for by the Federal government. With the passage of H.R. 976, Idaho would be able to provide health insurance for an additional 18,100 children. The bill would be funded by an increase in tobacco taxes.

There is, of course, the possibility that Congress could overturn the President's veto as there's a lot of support for the bill from both sides. It'll be interesting to see what happens. There'll be more to come on how this will affect Idaho once the bill hits the President's desk.