The Centers for Medicare & Medicaid Services released the 2017 premiums and deductibles for the Medicare Part A and Part B programs.  Following are highlights of the changes.

Medicare Part A - Premium and Deductible

• Generally, there is no monthly Part A premium for those with 40+ quarters of Medicare-covered employment.  Individuals who buy Part A will pay up to $413 each month in 2017.
• Part A deductibles in 2017 will be $1,316 for first 60 days of inpatient care; an additional $329 coinsurance per day for days 61 through 90, and additional $658 per day coinsurance beyond the 90th day.

Medicare Part B - Premium and Deductible

• The annual deductible for Part B beneficiaries will increase from $166 (in 2016) to $183 in 2017.
• With regard to Part B premium, because there was a 0.03% Social Security cost of living increase for 2017, the monthly premium for most individuals with Medicare Part B will increase from $104.90 to $109 in 2017.  The amount of monthly premium is adjusted based on income (see chart below):

Part B premiums for individuals who are married, live with their spouse at any time during the taxable year, and file a separate return are:

The monthly premium for Medicare Part C and/or Part D coverage vary by the selected plan.

Additional information about Medicare premium and deductibles is available from Medicare’s 2016 & 2017 Costs at a Glance and CMS press release. 

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