Tag Archives: part B deductible increase

2022 Medicare Part B Premium and Deductible Amounts Announced

Medicare finally announced the 2022 Part B costs late Friday afternoon.  The key numbers are the monthly Premium and the annual Deductible.  The Part B premium that most people pay will go up 14.5% from $148.50 to $170.10.  (Higher income people must pay an income surcharge called, Irmaa.  These amounts as well as the thresholds increased also.)  The Part B deductible increased a similar percentage from $203 to $233. 

These increases were more than projected just a couple of months ago.  The primary drivers for these increases were medical inflation and potential coverage of a new, hi-cost Alzheimer drug.  While these increases seem large, people on Social Security will still see a net increase due to the Hold Harmless provision that insures people’s Cola increase will cover the Medicare Part B premium increase.

As usual, I will post all of the key Medicare cost share amounts next month.  If any questions about how these apply to you, contact me.

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

New 2021 Medicare Costs at a Glance

Happy New Year!  As I do every new year, I wanted to post the key, new Medicare numbers that will be in effect for 2021.   These are the key changes to Medicare’s premiums and coverages.

  • Part A deductible – Will be $1484 up from $1408 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $203 up from $198 (Annual deductible)
  • Part B Premium – Will be $148.50 up from $144.60
  • Part D Maximum Deductible – Will be $445 up from $435 (Some plans don’t have a deductible and most have a “hybrid” deductible.)
  • Part D Premium National Average – Will be $33.06 up from $32.74 (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

Medicare Part B Announcements and Open Enrollment (AEP) for 2021

Medicare has just announced the Part B costs for 2021.  While these costs tend to go up over time, they don’t necessarily go up every year.  Beginning January 1st, there will be a slight increase in the Part B Deductible from current $198 to $203.   The standard Part B premium costs will go from current $144.60 to $148.50 per month for most people.  I say most people because high income earners have to pay a surcharge depending on their tax return two years prior.

We are also in the Medicare Open Enrollment period (AEP) which will end December 7th.  This affects people with Part D drug Plans (PDP) and Medicare Advantage Plans (Part C) who may want to make a change.  Medicare Supplement Plans are not subject to the AEP.

Any questions regarding these changes or any other Medicare related question can be directed to me at the contact info below.

If you have questions about your Choices in Medicare, please contact me at David@ChoicesInMedicare.com or go to www.ChoicesInMedicare.com

New 2020 Medicare Costs At A Glance

New 2020 Medicare Costs at a Glance

Happy New Year!  As I do every new year, I wanted to post the key, new Medicare numbers that will be in effect for 2020.   These are the key changes to Medicare’s premiums and coverages.  A highlight is the average costs for Part D drug plans have gone done and the infamous “Donut Hole” (aka Coverage Gap) name no longer applies as costs for people who do reach this stage now only pay 25% of the cost for Brand or Generic drugs.

  • Part A deductible – Will be $1408 up from $1364 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $198 up from $185 (Annual deductible)
  • Part B Premium – Will be $144.60 up from $135.50 (Excluding Irmaa)
  • Part D Maximum Deductible – Will be $435 up from $415 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $32.74 DOWN from $33.19 (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

New 2019 Medicare Costs at a Glance

As I do every new year, I wanted to post the key, new Medicare numbers that will be in effect for 2019.   These are the key changes to Medicare’s premiums and coverages.  A couple of the highlights are that the Part B premium only went up $1.50 and the Part B deductible only went up $2.

  • Part A deductible – Will be $1364 up from $1340 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $185 up from $183 (Annual deductible)
  • Part B Premium – Will be $135.50 up from $134.00
  • Part D Maximum Deductible – Will be $415 up from $405 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $33.19 DOWN from $35.02 (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

New 2018 Medicare Costs at a Glance

With the New Year just starting, I wanted to post the key, new Medicare numbers that will be in effect for 2018.   These are the key changes to Medicare’s premiums and coverages.  As I noted in July, CMS did not increase the Part B premium or Part B deductible for 2018 as expected.  Below are the key, new numbers:

  • Part A deductible – Will be $1340 up from $1316 (per 60 day Benefit Stay)
  • Part B Deductible – Will remain at $183.  Yippee! (Annual deductible)
  • Part B Premium – Will also remain at $134.00 for new beneficiaries. (Will not apply to many existing beneficiaries who had already taken out of Social Security) And does not apply to high income earners.
  • Part D Maximum Deductible – Will be $405 up from $400 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $35.02 DOWN from $35.63.  (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

New 2017 Medicare Costs at a Glance

With the hectic Medicare Open Enrollment period ended, I wanted to post the key, new Medicare numbers that will be in effect for 2017.   These are the key changes to Medicare’s premiums and coverages.  As I predicted, CMS did not increase the Part B premium as initially indicated and came in just under a 10% increase.

  • Part A deductible – Will be $1316 up from $1288 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $183 up from $166 (Annual deductible)
  • Part B Premium – Will be $134.00 up from $121.80 (Will not apply to existing 2016 beneficiaries who have it taken out of Social Security)
  • Part D Maximum Deductible – Will be $400 up from $360 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $35.63 up from $34.10 (Is used to determine Part D Penalty)

Feel free to contact me if you have any questions or need assistance with selecting a Medicare Plan.  I don’t charge any fees nor increase your cost.

Based in the Richmond, Va area, David Higgs of Choices In Medicare specializes in helping seniors transition to Medicare.  He can be reached at email:  David@ChoicesInMedicare.com or go to website:  www.ChoicesInMedicare.com

Happy New Year! – New Medicare #’s to Know in 2016

It is New Year’s Day in 2016 and that means new Medicare numbers to know for this year.  In most years, CMS, who manages Medicare, increases some of the costs associated with Medicare Part A, Part B and Part D coverages.  The following shows some of the key numbers that have increased for 2016.

  • Part A deductible – Will be $1288 from $1260 (per 60 day Benefit Stay)
  • Part B Deductible – Will be $166 from $147 (Annual deductible)
  • Part B Premium – Will be $121.80 from $104.90 (Will not apply to existing 2015 beneficiaries who have it taken out of Social Security)
  • Part D Maximum Deductible – Will be $360 from $320 (Some plans don’t have a deductible)
  • Part D Premium National Average – Will be $34.10 from $33.13 (Is used to determine Part D Penalty)

While none of these are dramatic, it is still important to be aware of the changes.  Also, even with these increases, Medicare coverage and any applicable Supplemental coverages you may have is great coverage.

You can read more about this topic at Medicare.gov website by clicking on the following link:  https://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-releases/2015-Press-releases-items/2015-11-10.html

If you have questions about your Choices in Medicare, please contact me at David@ChoicesInMedicare.com or go to www.ChoicesInMedicare.com

CMS Announces 2016 Changes to Medicare Part B Premium/Deductible

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.