This year’s Social Security cost-of-living adjustment will increase Medicare costs for beneficiaries.
About 70% of Medicare beneficiaries will pay $109 for their 2017 Part B monthly premiums, a 3.9% increase compared to the past four years.
The remaining 30% not “held harmless” will have a monthly premium of $134 in 2017, up 10% from 2016.
As in years past, the Department of Health and Human Services mitigated extreme increases for those not “held harmless,” those people 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.
The Part B deductible also increased 13% to $183 in 2017.
The 2017 Part A deductible of $1,316 is a $28 increase from last year.
According to CMS, beneficiaries must pay a coinsurance amount of $329 per day for the 61st through 90th day of hospitalization ($322 in 2016) in a benefit period and $658 per day for lifetime reserve days ($644 in in 2016). For beneficiaries in skilled nursing facilities, the daily coinsurance for days 21 through 100 of extended care services in a benefit period will be $164.50 in 2017 ($161 in 2016).
Those that haven’t acquired premium-free Part A from 40 quarters of Medicare-covered employment will pay $227 monthly for Part A coverage, a $1 increase from 2016.