Many Part B patients will see premium hike next year

by: Laura Evans, CPC Dec 1, 2017

Many of your Medicare patients will be facing higher monthly Part B premiums next year, even though the standard premium will hold steady at $134.

In 2017, only about 30% of Medicare beneficiaries pay that standard rate. The other 70% pay about $109 a month because they opt to have their Part B premiums automatically deducted from their Social Security checks to take advantage of a reduced premium amount under the “hold harmless” provision. Under that section of the law, Medicare cannot raise their Part B premiums if it would reduce beneficiaries’ social security income.

In 2018, Social Security recipients will get a 2% cost of living increase to their monthly income, AARP reports. As a result, CMS estimates that the number of Part B beneficiaries paying $134 per month will increase from 30% to 42% and will include beneficiaries whose premiums are automatically deducted from their Social Security checks. Another 28% of Part B beneficiaries will pay less than $134 under the hold harmless provision, though CMS did not state what that amount would be.

The Part B annual deductible will remain at $183 next year, while the Part A annual deductible will increase $24 from 2017 rates to $1,340 in 2018, according to AARP.

In addition, the Medicare Advantage monthly premium – paid in addition to the Part B premium – will be $30 next year, while the Part B prescription drug premium will be $33.50, AARP says.

Resource:

Medicare Part B premium and deductible notice: www.federalregister.gov/documents/2017/11/21/2017-24877/medicare-program-medicare-part-b-monthly-actuarial-rates-premium-rates-and-annual-deductible

Blog Tags: CMS

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