Medicare Part B Premium Increases
- The standard Part B premium in 2017 is $134.
- Your Part B premium is based on your annual income, when you got your Medicare, and whether or not you paid Medicare taxes for 10 years or more.
- Beneficiaries new to Medicare pay the standard premium set for the year by CMS.
- Beneficiaries with an individual taxable income up to $85,000 pay the standard premium.
- Beneficiaries with a joint income up to $170,000 pay the standard premium.
Annual Changes to Beneficiary Medicare Part B Premiums
A change in a beneficiary’s The Medicare Part B premium is the monthly charge paid by beneficiaries for their outpatient medical care, services, and supplies. A beneficiary's premium may be uplifted by an IRMAA surcharge if their income is above... payment from year to year depends on various factors, including:
- When the A person who has health care insurance through the Medicare or Medicaid programs.... joined Medicare;
- If participants do not currently have the Medicare Medical Insurance (Part B) premium withheld from their Social Security benefits;
- If there is not a Social Security cost-of-living adjustment (COLA);
- Income level; and
- General premium annual increases.
Beneficiaries new to Social Security and Medicare will pay the standard Part B premium (because they did not have the premium withheld from their Social Security benefits in the previous year and it would not lower their benefit).
The standard Part B premium changes each year. For 2017 the standard amount is $134 (higher if your annual income is above the threshold). For 2017, most people pay $134 per month for their Medicare Medical Insurance (Part B) if they have the premium deducted from their Social Security checks. The premium is higher for individuals with incomes above $85,000 per year and for married couples with incomes above $170,000 per year.
Medicare Part B Premiums for High Income Earners
If you’re in 1 of these 5 income brackets, here’s what you’ll pay for your medical coverage:
|If your annual income in 2015 was||You pay each month (in 2017)|
|File individual tax return||File joint tax return||File married & separate tax return|
|$85,000 or less||$170,000 or less||$85,000 or less||$134|
|above $85,000 up to $107,000||above $170,000 up to $214,000||Not applicable||$187.50|
|above $107,000 up to $160,000||above $214,000 up to $320,000||Not applicable||$267.90|
|above $160,000 up to $214,000||above $320,000 up to $428,000||above $85,000 and up to $129,000||$348.30|
|above $214,000||above $428,000||above $129,000||$428.60|
2017 Part B Deductible & Coinsurance
In 2017 you pay the first $183 (total for the year) for your Part B A deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share..... After your deductible is met, you typically pay 20% of the A Medicare-approved amount is what Medicare will pay for a covered service. Healthcare providers that agree to Medicare assignment accept the approved amount without excess charges. What Does Medicare-Approved Amount Mean? A Medicare-approved amount is... for these healthcare services:
- Most doctor visits (including most doctor services while you’re a hospital inpatient)
- Outpatient therapy
- Durable medical equipment (DME) is equipment that is designed to last and can be used repeatedly. It is suitable for home use and includes wheelchairs, oxygen equipment, and hospital beds....
Medicare A premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. ... and Coinsurance is a percentage of the total you are required to pay for a medical service. ... rates are published each fall and go into effect the following January.
- How Is Beneficiary Income Calculated by Medicare?
- How Much Does Medicare Hospital Insurance Cost (Medicare Part A)?
- What are My Medicare Cost Sharing Obligations?