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 Medicare Part B premium payment from year to year depends on various factors, including:
- When the beneficiary 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 deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for these healthcare services:
- Most doctor visits (including most doctor services while you’re a hospital inpatient)
- Outpatient therapy
- Durable medical equipment
Medicare premiums and coinsurance 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?