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.