The new Medicare premiums and coinsurance rates for 2009 have been announced.

Most people do not pay a monthly premium for Part A, the hospital insurance, because either the worker or his spouse has earned the required 10 years (or 40 quarters of credit) in a Medicare covered job.

However, people who have earned between 30 to 39 quarters of credit will pay $244 each month for Part A. And, for those who have less than 30 quarters of credit will pay a $443 monthly premium.

The Part B, medical insurance, monthly premium will be $96.40. If your income is higher than $85,000 for a single individual, or $170,000 for a married couple, your premium may be higher than $96.40.

Part B helps cover your doctor bills, outpatient hospital bills, certain home health service, and durable medical equipment. The Part B deductible will be $135 in 2009, and you pay 20 percent of the Medicare approved amount for your care after you meet the $135 deductible.

Part A helps pay for your inpatient hospital, skilled nursing facility, and certain home health care costs.

For each benefit period, Medicare pays all covered costs except the Part A deductible during the first 60 days as an inpatient in a hospital:

This is what you will pay:

• A total of $1,068 for a hospital stay of the first 60 days.

• $267 per day for days 61 to 90 of your hospital stay.

• $534 per day for days 91 to 150 of a hospital stay. These days are your Lifetime Reserve Days. That means they are only available once in your lifetime.

• You pay for all costs for each day beyond 150 days.

Medicare pays the costs for your first 20 days in a skilled nursing facility, and you will pay $133.50 per day for days 21 through 100 in each benefit period.

The escalating hospital and medical costs illuminate the need for everyone to consider enrolling in a Medigap policy to help pay the bills. If you do not have a policy, reconsider your decision so that an unexpected illness with high hospital and medical bills do not bankrupt you.