The H Group Blog

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2017 Medicare Premiums--A Mixed Bag

2017 Medicare Premiums - A Mixed Bag

Ron Kelemen - Thursday, November 17, 2016

The 2017 Medicare premiums have been announced. Many beneficiaries already receiving Social Security, won’t notice the increase, but it basically eats away the increase in the monthly Social Security cost of living benefit.  However, if you are enrolling in Part B for the first time in 2017, you don’t already receive Social Security benefits, or you are billed directly for your Part B premiums, you will pay $134 per month in 2017 (up from $121.80 per month in 2016).  The news is not so good for higher income beneficiaries who  make more than $85,000 or $170,000 as a couple.  You’ll pay from $187.50 per person per month to $428.60 per person per month, depending on your income (up from $170.50 to $389.80 in 2016). You’ll also have to pay a surcharge of $13.30 to $76.20 per month on top of your Part D prescription-drug premiums (up from $12.70 to $72.90 per month).  There are many more details than we can briefly describe here, but this link to an excellent Kiplinger article goes into more detail, especially for those who may be hit with higher premiums.  As always, feel free to meet with us to help you navigate this complexity. 

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