Medicare just announced the Medicare 2017 costs and we’ve provided a simple overview and comparison to what you paid in 2016. Be sure to check out our Medicare Fact Sheet 2017 for all of the Medicare 2017 costs and a concise overview of the various parts of Medicare. You’ll also find a more detailed breakdown of key Medicare information on page 2.
Medicare 2017 Costs
Medicare A Premium:
$0 if you or spouse has 40+ quarters of Medicare-covered employment
If you do not have enough eligible quarters of employment, you’ll pay up to $413 (was $411 in 2016).
Medicare B Premium:
Standard premium $134 (higher for individuals with incomes above $85,000 or $170,000 if filing jointly)
Average premium for those receiving Social Security benefits $109 (was $104.90 in 2016)
Medicare B Deductible:
$183/year (was $166 in 2016)
Medicare D premium:
Varies by plan (higher income individuals will pay additional adjustment)
Medicare A Hospital Coinsurance:
$1316 deductible for each benefit period ($1288 in 2016)
$0 coinsurance for days 1-60
$329/day for days 61-90 ($322 in 2016)
$658/day for up to 60 additional “lifetime reserve” days after 90 days ($644 in 2016)
All costs beyond lifetime reserve days
Medicare A Skilled Nursing Care:
Pays 100% up to 20 days
$164.50/day co-pay for days 21-100 ($161 for 2016)
Medicare A Mental Health Inpatient Care:
$1,316 deductible for each benefit period ($1,288 in 2016)
$0 coinsurance for days 1-60Days 61–90: $329 coinsurance per day of each benefit period ($322 in 2016)
$329 coinsurance per day of each benefit period ($322 in 2016) days 61-90$644 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime) ($658 in 2017)
$658 coinsurance per “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime) ($644 in 2016)Beyond lifetime reserve days: all costs.
Beyond lifetime reserve days: all costs20% of the Medicare-approved amount for mental health services you get from doctors and other providers while you’re a hospital inpatient.
20% of the Medicare-approved amount for mental health services you get from doctors/providers while you’re a hospital inpatient
Contact us today for a personalized Medicare analysis and help with all types of benefits. Save money and get the best options for your situation!