Prices vary for current and new beneficiaries

The White House announced the 2016 Medicare Part B premiums this week. They are significantly less than expected- you can see the original predictions in a previous newsletter. Here’s what you need to know:

Premiums: The Part B premium will increase for new beneficiaries and some current beneficiaries.

  • Current Beneficiaries: Most current beneficiaries will pay $104.90 per month, the same as this year.
  • New Beneficiaries: New beneficiaries will pay an increased premium of $121.80 per month.
  • High-income Beneficiaries: Beneficiaries making certain amounts will have a higher premium Those making over $85,000 a year will pay $170.50. The prices increase incrementally, up to a premium of $389.80 for those making over $214,000 per year.
Deductible: The Part B deductible will increase for all beneficiaries. It has been $147 since 2013.
  • Current Beneficiaries: Current beneficiaries will pay $166.
  • New Beneficiaries: New beneficiaries will pay $166.

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See this article by U.S. News & World Report for more details on the 2016 Part B premium prices.

Read The White House’s post about the 2016 Medicare Part B Premiums on their website.

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