The Centers for Medicare & Medicaid Services released the 2016 premiums and deductibles for the Medicare Part A and Part B programs. 

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 $411 each month in 2016.
• Part A deductibles in 2016 will be $1,288 for first 60 days of inpatient care; an additional $322 co-insurance per day for days 61 through 90, and additional $644 per day beyond the 90th day.

Medicare Part B Premium and Deductible

• The annual deductible for Part B beneficiaries will increase from $147 to $166 in 2016.
• With regard to Part B premium, because there was no Social Security cost of living increase for 2016, the monthly premium for most individuals with Medicare Part B will remain the same as last year ($104.90).  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:

Medicare Parts C and D monthly premiums vary by plan.

Additional information about Medicare premium and deductibles is available from Medicare’s 2015 & 2016 Costs at a Glance and CMS press release. 

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