New 2017 Medicare Premiums and Deductibles Announced
Updated: May 22, 2019
The Centers for Medicare & Medicaid Services has announced the cost of Medicare premiums and deductibles for 2017. As you're probably aware, Original Medicare is split into Medicare Part A (hospital) and Medicare Part B (medical).
Medicare Part A Premiums in 2017
Chances are the Medicare Part A premium won't apply to you. If you have worked in the United States for at least 40 quarters, you likely do not have a Medicare Part A premium.
Individuals who had at least 30 quarters of coverage or were married to someone with at least 30 quarters of coverage will have a Medicare Part A premium of $227 in 2017. This is a $1 increase from 2016.
The full Medicare Part A premium for 2017 will be $413 a month. It was $411 in 2016.
Medicare Part A Deductibles in 2017
The Medicare Part A deductible will increase by $28 from last year to $1,316 in 2017. This is the deductible you'll pay if admitted to a hospital.
Medicare Part B Premiums in 2017
The Medicare Part B premium is not the same for everyone. Your Part B premium will depend on whether or not you are covered by the government's "hold harmless" statute. You might not be covered by the “hold harmless” provision if you do not receive Social Security benefits, will be enrolling in Medicare Part B for the first time in 2017, or you pay an income-related premium.
The vast majority of people are covered by the "hold harmless" statute. For those covered by the "hold harmless" statute, the average 2017 Part A premium will be about $109.00.
For those not covered by the "hold harmless" statute, the Medicare Part B premium in 2017 will be $134.00.
Medicare Part B Deductibles in 2017
Medicare Part B covers medical services such as physician services and outpatient hospital services. In 2016, the Medicare Part B deductible was $166. The Centers for Medicare & Medicaid Services announced that the Medicare Part B deductible will increase to $183 in 2017. Medicare Supplement insurance Plan F pays the Medicare Part B deductible.