2017 Medicare Part B Premium Increase

The Centers for Medicare and Medicaid Services just announced the 2017 Part B premiums for Medicare, and they are going up. For nearly 70% of Medicare recipients, the premium will increase from the existing $104.90 to $109. This increase corresponds to the recently announced cost of living adjustment, which averages $5.

For the remaining 30%, who are not protected by the hold harmless provision in the Social Security law, the basic premium will increase from the current $121.80 to $134. Recipients in this category include:

·    New enrollees in 2017

·    Recipients not yet receiving Social Security

·    Those with higher incomes (starting at $85,000 single/$170,000 married) subject to the       Income Related Monthly Adjustment Amount (IRMAA)

Those who are subject to IRMAA pay additional amounts beyond the $134, depending upon their income.

For more information, contact: