Medicare Deductible Amounts and copays for 2017
During this open enrollment season, many people are wondering about what the numbers look like for the upcoming year. I just got the confirmed numbers for next year and want to share them with you all.
|MEDICARE PART A||-----------------------||-----------------------|
|Inpatient Hospital Deductible||$1,288/benefit period||$1,316/benefit period|
|Medicare Part B Deductible||$166/year||$183/year|
|Medigap High Deductible F and J||$2,180/year||$2,200/year|
|Plan K Out-of-Pocket Limit||$4,960/year||$5,120/year|
|Plan L Out-of-Pocket Limit||$2,480/year||$2,560/year|
|Plan N Office Visit||up to $20||up to $20 (did not change)|
|Plan N Emergency Room Visit||up to $50||up to $50 (did not change)|
|Medicare Part B Premium (see below)||$121.80/mounth||$134/month|
More on the Part B Premium. This was taken directly from Medicare.gov:
The standard Part B premium amount in 2017 will be $134 (or higher depending on your income). However, most people who get Social Security benefits will pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2017 Social Security benefits. If you pay your Part B premium through your monthly Social Security benefit, you’ll pay less ($109 on average). Social Security will tell you the exact amount you will pay for Part B in 2017. You’ll pay the standard premium amount if:
- You enroll in Part B for the first time in 2017.
- You don’t get Social Security benefits.
- You’re directly billed for your Part B premiums.
- You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $134.)
- Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount. If so, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
If you’re in 1 of these 5 groups, here’s what you’ll pay:
|If your yearly income in 2015 (for what you pay in 2017) 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|
In other words:
If you’re currently getting your premium deducted from your Social Security check, this number is not what you will pay. You will actually pay less. The Social Security office will inform you of your rate. This is because the part B premium increase was more than the Social Security cost of living increase.
If you are starting Part B for the first time in 2017, the standard rate is $134 per month. If you make more than $85,000 per year ($170,000 as married filing jointly), see the chart for your above rate.
These numbers will be updated on the Medicare section of this website (https://simpleseniorhealth.com/starting-point/what-is-medicare) when the new year starts. Please comment below. What are your thoughts on these changes? Find out events and other news at our Facebook page. Don’t forget to like us!https://simpleseniorhealth.com/medicare-deductible-amounts-and-copays-for-2017https://simpleseniorhealth.com/wp-content/uploads/2016/11/hands-1273148_640.jpghttps://simpleseniorhealth.com/wp-content/uploads/2016/11/hands-1273148_640-150x150.jpgAbout MedicareComparison ChartsGeneralDuring this open enrollment season, many people are wondering about what the numbers look like for the upcoming year. I just got the confirmed numbers for next year and want to share them with you all. More on the Part B Premium. This was taken directly from Medicare.gov: The standard Part...Raphael firstname.lastname@example.orgAdministratorRaphael resides north of Indianapolis, Indiana. He is an independent insurance agent. He is also the worship leader at his church, a husband, and step-father of one awesome 15-year-old girl. You can contact him at email@example.com.Simple Senior Health