CMS announces 2017 Part B Premiums and Deductibles
In a press release on November 10, 2016, the Centers for Medicaid & Medicare Services (CMS) announced the 2017 deductibles and premiums for Part A and Part B.
CMS notes “the annual deductible for all Medicare Part B beneficiaries will be $183 in 2017 (compared to $166 in 2016). Premiums and deductibles for Medicare Advantage and prescription drug plans are already finalized and are unaffected by this announcement. Since 2007, beneficiaries with higher incomes have paid higher Medicare Part B monthly premiums. These income-related monthly premium rates affect roughly five percent of people with Medicare.”
CMS notes that for about 70% of beneficiaries, “… the average 2017 Part B [monthly] premium will be about $109.00, compared to $104.90 for the past four years.” For the other 30%, CMS notes “the standard monthly premium for Medicare Part B will be $134.00 for 2017, a 10 percent increase from the 2016 premium of $121.80.”
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