2017 Medicare Part A and Part B Premium and Deductibles

Medicare Part A and Part B changes from 2016 to 2017

You may be aware that premiums and deductibles for both Medicare Part A and Medicare Part B fluctuate from year to year. The Medicare administration has announced Medicare Part A and Part B rates for 2017, with changes taking effect Jan. 1, 2017.

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Medicare Part A in 2017

2017 Medicare Part A Premium: $413

The Medicare Part A premium, which only about 1 percent of Medicare recipients are required to pay, will be $413, a $2 increase from the 2016 rate of $411. If you have 40 quarters of Medicare covered employment, you will not be required to pay a Medicare Part A premium.

2017 Medicare Part A Deductible: $1,316

The 2017 Medicare Part A in patient hospital deductible will be $1,316 per benefit period, up $28 from $1,288 per benefit period in 2016.

2017 Medicare Part A Co-payments: $329

The cost of spending 61-90 days in the hospital will be $329 per day, which is a $7 increase from the 2016 rate of $322. For a hospital stay of 91-150 days, the per-day Medicare Part A co-payment in 2017 is $658, a $14 increase from $644 in 2016. After 150 days, Medicare no longer helps pay for hospital expenses.

2017 Medicare Part A Skilled Nursing: $164.50

After 20 days in a skilled nursing facility, the per-day Medicare Part A skilled nursing co-payment in 2017 will be $164.50, or $3.50 more than in 2016 rate of $161.00.

Medicare Part B in 2017

2017 Medicare Part B Premium: $134.00

The standard 2016 Medicare Part B premium will be $134.00 per month, which is a $12.20 increase from 2016 rate or $121.80. Higher Part B premium rates for people with higher incomes will also adjust to 2017 levels.

2017 Medicare Part B Deductible: $183

The Medicare Part B 2017 deductible will be $183, or $17 more than 2016 rate of $166.

Medigap Protection Against Deductibles, Co-pays, and Coinsurance

Medicare supplement plans go a long way toward helping eliminate Medicare out-of-pocket costs that often go up from one year to the next. An excellent, budget-friendly solution is Medicare Supplement Plan F, which covers all Medicare-approved costs not covered by Medicare Part A and Medicare Part B. With fixed premiums that can easily fit into your budget, Plan F covers all Medicare Part A and Part B deductibles along with “excess charges” you would otherwise have to pay out of pocket. Excess charges are the difference between what Medicare pays and what your medical provider charges—and they can add up fast without the protection Plan F provides! To learn more about how Medicare supplement plans can save you money, request a free Medigap quote from one of our licensed Medicare supplement insurance representatives or call MedicareMall toll-free at (877) 413-1556.

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