CMS (Centers for Medicare and Medicaid Services) has released the 2017 premiums for Medicare inpatient hospital (Part A) and physician and outpatient services (Part B)
The Part A inpatient hospital deductible will increase to $1,316 that is an increase of $28.00 from the 2016 deductible. Unlike the Medicare Part B deductible which is an annual deductible the Medicare Part A deductible of $1,316 applies to each benefit period of 60 days. An example would be if you were admitted as an inpatient to a hospital in February and released a few days later that would be considered one benefit period. If 60 days or later in the same year, you were admitted again as an inpatient to a hospital that would be considered a second Medicare Part A benefit period and you or your plan would be responsible for another $1,316.
The standard monthly premium for Medicare Part B in 2017 will go from $121.80 to $134.00, which is a $12.20, a month increase from 2016. For those people already receiving social security benefits in most cases, your Medicare Part B premium will go from $104.90 monthly to $109.00 monthly.
The Medicare Part B annual deductible will increase from $166 to $183. After the annual deductible is met, you will typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.
Medicare 2016 Costs Compared to 2017 Costs
Benefit 2016 2017
Part A Inpatient Hospital Deductible $1,288 $1,316
Part B Premium for people on SS $104.90 $109.00
Part B Premium for all others $121.80 $134.00
Part B Deductible $166.00 $183.00
If you have any questions call me at 970-773-0220 or email me at info@YourMedicareGuy.com.
Click on the link to read the full CMS press release. CMS Press Release