4% increase for most Medicare Part B premiums for 2017

CMS has announced premiums and deductibles for Medicare Parts A and B for 2017, with modest increases for most beneficiaries.

For 70 percent of beneficiaries, Part B premiums will go up by only 4 percent to an average of $109, thanks to low cost of living adjustment in Social Security next year. For the remaining 30 percent, premiums will rise 10 percent to an average of $134 for Part B services like office visits and outpatient hospital care.

For all Part B beneficiaries, the annual deductible will rise to $183 in 2017.

“Medicare’s top priority is to ensure that beneficiaries have affordable access to the care they need,” CMS Acting Administrator Andy Slavitt said in a statement. “We will continue our efforts to improve affordability, access, and quality in Medicare.”

For the few Medicare beneficiaries who pay a premium for Part A, the inpatient hospital deductible will increase to $1,316 per benefit period in 2018. That covers the patients’ share of costs for the first 60 days of a hospital admission. Coinsurance will increase to $329 per day for the 61st through 90th day and $658 per day for lifetime reserve days.   

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John Gregory, Senior Writer

John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.

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