Sunday, December 11, 2016

2017 Medicare Parts A, B and D Updates

The official 2017 Medicare and You handbook published by CMS (Centers for Medicare and Medicaid Services) is available in several formats.  Here are links to the English and Spanish versions:


The chart below provides a summary of 2017 Medicare deductibles and co-insurance amounts, along with the Medicare Part B premium and average monthly increase to Social Security benefits:

Medicare Part A  
Inpatient hospital deductible and co-insurance $1,316 deductible for each benefit period
  Days 1 - 60 co-insurance for each benefit period $0
  Days 61 - 90 co-insurance per day for each benefit period $329
  Days 91 and beyond; $658 co-insurance per "each lifetime reserve day"
Skilled Nursing Facility $0 for days 1 - 20; thereafter, days 21 - 100 $164.50 per day
Part B Premium 2017 standard Part B premium will be $134 (or higher based on your income). However, most people who receive Social Security benefits will pay less than this amount ($109/average)
Part B Deductible $183.00
Part D Initial deductible: $400
 Initial coverage limit: $3,700
 Out of pocket threshold: $4,950
 Coverage gap: begins once you reach your Medicare Part D plan's initial coverage limit ($3,700 in 2017) and ends when you spend a total of $4,950 in 2017.
 In 2017, Part D enrollees will receive a 60% discount on the total cost of their brand-name drugs purchased while in the donut hole. The 50% discount paid by the brand-name drug manufacturer will apply to getting out of the donut hole, however the additional 10% paid by your Medicare Part D plan will not count toward your TrOOP.
 Minimum cost sharing in Catastrophic portion: 5% or $3.30 for generic or preferred drug that is multi-source drug and the greater of 5% or $8.25 for all other drugs.
Average Monthly Social Security Increase 0.3% increase to $1,360 (from $1,355)

Until next time,

Andrew Herman, President
AH Insurance Services, Inc.

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