Medicare Part B Premiums Rise Next Year?

December 20, 2017

Employee Benefit & HR News

CMS Medicare has announced that the standard Medicare Part B premium will remain at $134 per month in 2018. The headline is comforting for retirees, as it appears that premiums are not increasing.  But read further down the press release and one notes that for many enrollees,  42 percent to be precise, they’ll see their Medicare premiums grow to $134 because the cost-of-living adjustment to their Social Security benefit eliminates a previous hold- harmless protection that kept  their Part B premiums at or under $107 per month.

The news isn’t favorable for our higher-income Medicare enrollees, either. With a five-tier chart of premiums that rises above $134 on incomes that exceed $170,000 for married couples, roughly 10% of Medicare enrollees have paid higher Part B and D premiums for quite a few years.  The change for 2018 that’s drawing considerable notice is that the top two earnings tiers have dropped, with income thresholds more than $100,000 lower than 2017.  This puts more enrollees in higher Part B premium categories.

With most enrollees paying Medicare premiums out of their Social Security checks, these increases can go unnoticed. It pays to be informed!  For details on the premiums you’ll pay to Uncle Sam for Medicare next year, please go here: https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html .  And, call us when you have questions on Medicare costs and coverages.

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About Kevin Guss

Kevin J. Guss is a Consultant with our Private Client Benefit Services, specializing in providing individual health coverage (on and off-exchange), Medicare supplements, life, LTC and disability insurance to clients of J.W. Terrill and strategic partners. With more than 22 years of industry experience, Kevin counts many retired professional athletes, celebrities, business leaders and prominent members of the community among his clients. He has a Group Benefits Associate designation from the Wharton School of the University of Pennsylvania, a Past President of St Louis Association of Health Underwriters and a current board member of the MO Association of Health Underwriters.

View all posts by Kevin Guss

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