Monday, November 23, 2015

Medicare A & B Premiums, Deductibles, Copays 2016

CThe premium for Medicare Part B is calculated by outpatient utilization figures from the year before. Because beneficiaries used the services more than anticipated in 2015 the Part B premium for 2016 will increase will increase for many beneficiaries from $104.90 to $120.70.

But because there will be no cost of living adjustment (COLA) for Social Security benefits a federal "hold harmless" provision will allow Medicare beneficiaries whose premium was the $104.90 in 2015 (not the increased premium for higher incomes) and have their Part B premiums deducted from their Social Security. For beneficiaries who have Medicaid paying their Part B premiums there will be an increase but the beneficiary won't be affected since Medicaid will pay it.

Medicare A & B Premiums, Deductibles, Copays 2016

Part A (hospital) Beneficiary pays:
Hospital Deductible $1,288/benefit period
Hospital Copay $322/day for days 61-90
$644/day for days 91-150
Skilled Nursing Facil Copay $161/day for days 21-100
Part A Premium $411/month for those with fewer than 30 quarters of Medicare-covered employment
$226/month for those with 30-39 quarters of Medicare-covered employment
Part B (doctor, outpatient services, etc.) Beneficiary pays:
Annual Deductible $166
Part B Premium for those with incomes below $85,000 or $170,000 married couple $104.90/month – for those beneficiaries enrolled in Medicare prior to 2016, whose premium is taken out of their monthly Social Security benefit
$121.80/month – for those beneficiaries not collecting Social Security benefits, those who will enroll in Part B for the first time in 2016, and those who have their Part B premiums paid by Medicaid
Most covered Part B services 20%

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