Talking Medicare is the Senior Marketing Specialists weekly topic sheet. Information for agents to know for their clients, staff, and industry.
2017 Medicare Numbers to Remember
- Basic Part B premium: $109 a month (was $104.90)
- Part B premium for those not protected by hold harmless: $134 (was $121.80)
- Part B deductible: $183 (was $166)
- Part A deductible: $1,316 (was $1,288)
- Co-payment for hospital stay days 61-90: $329 a day (was $322)
- Co-payment for hospital stay days 91 and beyond: $658 a day (was $644)
Part A Premium: (Most Beneficiaries Do Not Incur This Cost): $413
Part A Deductible and Coinsurance:
- $1,316 deductible for each benefit period
- Days 1-60: $0 coinsurance for each benefit period
- Days 61-90: $329 coinsurance per day of each benefit period
- Days 91 and beyond: $658 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
- Beyond lifetime reserve days: all costs
- Skilled nursing facility co-payment, days 21-100: $164.50 per day
Medicare costs at a glance: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html
Part B Premium: $134/$109
The standard Part B premium amount in 2017 will be $134 (or higher depending on your income).
However, most people who get Social Security benefits will pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2017 Social Security benefits. If you pay your Part B premium through your monthly Social Security benefit, you’ll pay less ($109 on average).
You’ll pay the standard premium amount if:
>You enroll in Part B for the first time in 2017. >You don’t get Social Security benefits. >You’re directly billed for your Part B premiums.
>You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $134.)
Part B Premium for Higher Income Beneficiaries:
If your yearly income in 2015 (for what you pay in 2017) was:
Part B Deductible: $183
Medicare part B costs outlined: https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html
Premiums vary by plan. The following amounts will be added for higher income beneficiaries:
Standard Benefits as outlined by CMS:
- Max Deductible: $400
- Initial Coverage Limit: $3700
- During Donut Hole:
- Brand Name drugs will have a 60% discount on the total cost.
- Generic drugs will receive a 49% discount. (The 51% that you spend counts toward your TrOOP.)
- Out-of-Pocket Threshold: $4950
Medicare and You 2017: https://www.medicare.gov/pubs/pdf/10050-Medicare-and-You.pdf