Is medicare part b premium going up in 2017
- Medicare announced its premiums for 2018. Here’s what you need to know.
- Medicare B Costs for Retirees Projected to Rise
- Medicare Part B Premiums Rise For Most In 2018, Stealth Hit To High Earners
Medicare announced its premiums for 2018. Here’s what you need to know.
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Philip Moeller Philip Moeller. Part B covers insured expenses for doctors, outpatient services and durable medical equipment. The other component of basic Medicare is Part A, which covers hospital and nursing home expenses. About 30 percent of Medicare beneficiaries are not held harmless each year. Recent COLAs have been very small — zero in and 0.
Virtually all other Medicare beneficiaries are paying higher premiums for Part B exceptions would include a person who previously had an income that was high enough to trigger the high-income surcharges for Part B, but whose income has dropped below that level for But since the COLA was larger for , at 2 percent, the average premium increase was larger too. But the increase in Medicare Part B premiums absorbed the full COLA for most people, so most seniors ended up getting the same Social Security checks in that they got in , after their Part B premiums were deducted.
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Medicare Part B premiums are indexed for inflation—they're adjusted periodically to keep pace with inflation. What you pay this year may not be what you pay next year. Premiums are also means-tested. This means that they're somewhat dependent on your income. The more income you have, the higher your premium will be.
Philip Moeller Philip Moeller. This is a very big deal, because the increases had earlier been forecast at roughly double this size. However, Medicare says it had sufficient financial reserves to absorb half the expected rise in Part B expenses. The agency also announced modest increases for Part A, which covers care in hospitals, nursing homes and some in-home care. Premiums and deductibles next year for Medicare Advantage and Part D prescription drug plans already have been set and are not affected by the Part A and Part B changes. Part B primarily covers expenses for doctors, other outpatient care and durable medical equipment.
If you're nearing retirement age, or if you're retired and simply haven't used your Medicare benefits yet, then you may be confused about the different "parts" of Medicare and what each one covers. Medicare Part B is also known as "medical insurance," and it covers most medical services and supplies other than hospital stays. Here's a more detailed explanation of what Medicare Part B covers and what it will cost in In a nutshell, Medicare Part B, or "medical insurance," is the part of Medicare that covers most medical services and supplies other than hospital or skilled nursing facility stays. More specifically, the coverage provided by Medicare Part B can be grouped into two categories: medically necessary services and preventative services. This is the part of Medicare you would use when you see your doctor or have surgery.
Medicare B Costs for Retirees Projected to Rise
Medicare Part B Premiums Rise For Most In 2018, Stealth Hit To High Earners