New premiums for Medicare

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Recently, the Centers for Medicare and Medicaid Services (CMS) released the 2017 premiums for the Medicare inpatient hospital (Part A) and physician and outpatient hospital services (Part B) programs.

For 2017, the Part B premium (for those already on Medicare and having their premiums deducted from their Social Security check) will have an average of $109 per month. For those just coming onto Medicare in 2017, the part B premium will be $134 per month. The Part B deductible will go up slightly ($183). There are some changes to the numbers which are listed below, but if you have a Medicare supplement policy, it will take care of some, if not all, of these expenses.

• Part B premium in 2016, $104.90; in 2017, $109.

• Part B premium for those just enrolling in Part B for the first time in 2017 or those not having their premiums deducted from their Social Security checks in 2016, $121.80; in 2017, $134.

• Part B deductible: in 2016, $166; in 2107, $183.

• Part A hospital deductible: in 2016, $1,288; in 2017, $1316.

• Part A hospital coinsurance days 61-90: in 2016, $322 per day; in 2017, $329 per day.

• Part A hospital coinsurance lifetime reserve days: in 2016, $644 per day; in 2017, $658 per day.

• Skilled nursing coinsurance days 21-100: in 2016, $121 per day; in 2017, $164.50 per day.

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By Dan Hoelscher

Guest column

The writer is the founder of Seniormark LLC. Reach him at [email protected].

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