Medicare

2017 Medicare Part B premiums

Will Medicare premiums increase in 2017? Here are the projections from the Medicare Trustees. Note also the projected 2017 deductibles. Note 5 is especially important. The Note is reproduced below.

Note 5. If the Social Security COLA were 0 percent (so that the BBA [Bipartisian Budget Act] provisions would apply) or large enough to allow all Part B enrollees to pay the full 2017 premium, then the estimated 2017 premium would be roughly the same as the 2016 premium of $121.80. This amount includes the increase in premium to repay the general fund under the BBA, as the margin included in the 2016 Part B financing is projected to be adequate to absorb most of the additional repayment.

What the above means is that if there is a Social Security COLA for 2017 as much as $16.90 of any increase will go to a higher Medicare Part B premium ($121.80 – 104.90). $104.90 is the premium most Social Security beneficiaries subject to the hold harmless provision are currently paying for 2016. 

The average monthly Social a Security benefit for retired workers $1348.49. That means that a COLA of up to 1.25% will be consumed by a higher Medicare Part B premium for the average retiree. 

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1 reply »

  1. I think it is ridiculous! We can’t afford to live with the SS as it is with other rising costs, plus the Medicare HMO have increased copays on medications this past year that they didn’t have in 2015. If they intend to do that then there should be no copays for medications in addition to rising costs of Medicare. Also, the annual physicals aren’t as complete due to what my doctor says are new Medicare guidelines, so many tests done in the past have new guidelines from Medicare that don’t require these tests done annually, that include length of times frames that tests need to be done i.e. bone density tests, mammograms, some blood work that used to be given annually, chest xrays, EKG’s that used to be done on an annual basis at the annual physical. I am totally disgusted with the way seniors are being treated. Should we go ahead and die now or should we file for bankruptcy, or go back to work because that is what the government is forcing us to do with trying to keep us in poverty levels of living.after our contributions to the work place that brought this country to where they are today, computers, Space travel, medical advancements with our knowledge, and the list goes on that most of us contributed to. . I believe the candidates for President should be presented with many questions when debating on what their plans are for us as seniors with Social Security and Medicare included in questioning. I guess we can think about going to free health clinics, not repair anything in our houses, don’t hire anyone for services that are needed, like mowing our lawns and repairing our cars, and then we deal with HOA’s, or being able to leave our houses!! And, forget about ever getting to see this beautiful country of ours, with what money, a vacation is a premium for any of us! Maybe none of the government people doing this to seniors have a senior Mom or Dad yet, and have to see consequences for having to put all their money into health care premiums, co pays and having credit card debt in order to be able to live. So do we live on our current SS income that would afford us no rise in Medicare costs or what? I am just about giving up with government proposals to constantly think of how it would benefit the government instead of thinking of the seniors still trying to “make it” in this 21st century!

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