I reported this past July that CMS (who manages Medicare) announced there were possible, significant increases coming to Medicare recipients for their Part B premium and deductible.  This past Wednesday, Nov 11th, they announced that they have finalized the amounts of the increases.

The good news is they significantly scaled back the amounts of the increases.  2016 Part B premiums will increase from $104.90 to $121.80 for many people.  It will include those that newly enroll in Part B, those that don’t currently collect Social Security and higher income recipients primarily.  This increase will not affect approximately 70% of recipients that are currently on Part B and have the premium deducted from their Social Security check.

Part B deductibles will increase from current $147 to $166.  After several years of no increases, this will be much more tolerable than the initial amount proposed.

To read more about it, you can go to the CMS website linked here:  https://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-releases/2015-Press-releases-items/2015-11-10.html

If you have any questions about Medicare insurance coverages, feel free to email David@ChoicesInMedicare.com or go to www.ChoicesInMedicare.com.