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2018 Medicare premiums, deductibles and copays have been released!

The Centers for Medicare and Medicaid Services (CMS) announced  the 2018 Original Medicare cost share and premium amounts on November 10, 2017. The CMS announcement seemed a bit confusing to our staff, so we’ve tried to simplify the information for you.  Below you will find some of the key changes that will be affecting Medicare beneficiaries.

70 percent of Medicare enrollees currently pay lower monthly Part B premiums due to the “hold harmless” provision, which prevents Medicare premiums rising more than the Social Security cost-of-living adjustment (COLA). With the COLA increasing 2 percent for 2018, those individuals may see their monthly cost rise as much as $25 to $134, compared to the 2017 average of $109.

The Part B premiums will have no change from 2017 to 2018 for all individuals who are currently paying the full amount.

2018 Medicare Part B premiums

Beneficiaries who file an individual tax return with income: Beneficiaries who file a joint tax return with income: Income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $85,000 Less than or equal to $170,000 $0.00 $134.00
Greater than $85,000 and less than or equal to $107,000 Greater than $170,000 and less than or equal to $214,000 $53.50 $187.50
Greater than $107,000 and less than or equal to $133,500 Greater than $214,000 and less than or equal to $267,000 $133.90 $267.90
Greater than $133,500 and less than or equal to $160,000 Greater than $267,000 and less than or equal to $320,000 $214.30 $348.30
Greater than $160,000 Greater than $320,000 $294.60 $428.60

 

Here are several other key changes happening for 2018:

 

Part A – Medicare Hospital Coverage

2018  Change from 2017
Part A Deductible* $1,340 $24 Increase
Part A Coinsurance: *Inpatient
Hospital Care (Days 61 thru 90)
$335 per day $6 Increase per day
Lifetime Reserve Coinsurance:
*Inpatient Hospital Care (Days 91 thru 150)
$670 per day $12 Increase per day
Skilled Nursing Facility (SNF)
Coinsurance: * (Days 21 thru 100)
$167.50 per day $3 Increase per day
* Per benefit period (A benefit period begins on the first day you receive service as an inpatient in a hospital, and ends after you have been out of the hospital and have not received skilled care in any other facility for 60 days in a row.)

Part B – Medicare Medical Coverage

2018  Change from 2017
 Part B Annual Deductible $183 $0 Increase

Medicare Supplement Plan Deductible and Out-of-Pocket limits

2018 Change from 2017
High Deductible Plan F Annual Deductible (High Deductible Plan in WI) $2,240 $40 Increase
Plan K Annual Out-of-Pocket Limit (50% Cost Share Plan in WI) $5,240 $120 Increase
Plan L Annual Out-of-Pocket Limit (25% Cost Share Plan in WI) $2,620 $60 Increase
Austin Felch

Austin Felch

Austin Felch is a Marketing Representative and Compliance Specialist with Jack Schroeder and Associates. He works out of our Marketing Headquarters in Fort Myers, FL. Austin is committed to helping agents grow their books of business and thrive in the Medicare Market.