Medicare Premiums and Deductibles Announced

For 70 percent of Medicare Part B covered individuals, the anemic increase in Social Security benefits for 2017 means that they will see no increase in their Part B premium and will continue to pay an average of $109 per month. This is due to a hold harmless provision that is intended to prevent Part B premium hikes when Social Security benefits do not increase above a set threshold.

Beneficiaries not protected by the hold harmless provision will see their Part B premiums increase from $121.80 to $134.00 per month. Those facing the increase include beneficiaries who do not receive Social Security benefits, those who enroll in Part B for the first time in 2017, those who are directly billed for their Part B premium, those who are dually eligible for Medicaid and have their premium paid by state Medicaid agencies, and those who pay an income-related premium. Note that Part B premiums for individuals with annual incomes above $85,000 per year are higher than those listed above.

The Part B deductible for 2017 will be $183, up from $166 in 2016. The Part A daily SNF coinsurance for days 21 through 100 will be $164.50, up from $161 in 2016. The Part A hospital inpatient deductible will be $1,316, up from $1,288 in 2016, and the daily hospital coinsurance for days 61 through 90 will increase by $7 to $329.

The CMS press release with additional information is available here.

Contact: Darius Kirstein, dkirstein@leadingageny.org, 518-867-8841