2018 Medicare Parts A & B Premiums and Deductibles Announced
Category: Health and Wellness Issues
November 21, 2017 — The Centers for Medicare & Medicaid Services (CMS) has announced the 2018 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs. Note that the Medicare Open Enrollment period ends Dec. 7 – make sure your choices are up to date.
Medicare Part B Premiums/Deductibles
The standard monthly premium for Medicare Part B enrollees will be $134 for 2018, the same amount as in 2017. Some beneficiaries who were held harmless against Part B premium increases in prior years will have a Part B premium increase in 2018, but the premium increase will be offset by the increase (COLA) in their Social Security benefits next year. Individuals with income over $85,000 or couples earning more than $170,000 pay more for Part B, and those premiums will increase about 5% in 2018. Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items.
CMS Administrator Seema Verma commented: “Next year, no beneficiary protected by the hold-harmless provision will see a Part B premium increase that is greater than the increase in their Social Security benefits. We encourage Medicare beneficiaries to explore
Comments on "2018 Medicare Parts A & B Premiums and Deductibles Announced"
Gene Smith says:
Everyone I know that currently receives social security has been notified of an increase in their Medicare premium from $109 to $134 monthly. The December AARP newsletter came out with information on Medicare 2018 Part B Premiums. Their article states "If you are on Medicare and collecting Social Security (which pays your Part B premiums), you'll likely pay $109 a month for 2018 because of a law that prevents Medicare premiums from cutting into Social Security benefits." I'm confused; why did my premium increase as well as other folks I know? Comments?
Jim C says:
Gene,
Same goes for me. Just received the notice from SS this week. So much for our 2% raise!!
Sharon Alexander says:
For years, every time they increase Social Security payments, they take it away by raising Medicare.
Admin says:
For more on this see this USAToday article. If you are already taking Social Security the COLA goes to take care of the Medicare increase. This news is better for you than it is for people who are not already on SS; they have to pay the extra Medicare premium and get no relief. Medicare premiums have to increase sometimes to pay 25% of the estimated cost of actual Part B.
https://www.usatoday.com/story/money/personalfinance/retirement/2017/10/13/medicare-premiums-might-devour-your-increased-2018-social-security-benefit/761925001/