The 2018 Medicare Parts A & B Premiums, Deductibles, coinsurance amounts for the Medicare Part A and Part B programs announced November 17, 2017.
Medicare Part B Premiums/Deductibles
For example, Medicare Part B only covers outpatient hospital services, some home health services, doctor services, durable medical equipment, and other items as well.
However, the standard monthly premium for Medicare Part B enrollees will cost $134.00 for 2018, it is the same amount as in 2017. Therefore, Medicare Part B will not have an increase for 2018. But some beneficiaries who were not affected Part B premium increases in prior years may have a Part B premium increase in 2018. As a result, the 2018 Medicare premium increase will be offset by the cost-of-living adjustment (COLA) increase in the Social Security benefits next year.
More importantly, Medicare’s first concern is to ensure that beneficiaries have the option for affordable, high-quality care. That fit their needs, said CMS Administrator Seema Verma. Therefore, next year no beneficiary protected by provisions will see their Part B premium increase. More than the increase in their Social Security benefits. On the other hand, Medicare beneficiaries should look for options to make a choice between Original Medicare and Medicare Advantage. Before Open Enrollment ends on December 7, 2107.
Content Management System (CMS)
For the purpose of, Content Management System (CMS) recently released the benefit premium and Star Rating information for drug plans and Medicare health. This Star Ratings will give more health coverage choices and improved access to high-quality health choices. Also, will decreased premiums in 2018. As a result, CMS estimates Medicare Advantage average monthly premium will decrease by $ 1.91 about 6 percent in 2018. Therefore, the average basic premium for a Medicare prescription drug plan in 2018 calculated to decline to an estimated $33.50 per month. It represents a decrease nearly $1.20 below average basic premium of $34.70 in 2017. On the other hand, Medicare prescription drug plan average basic premium will decline for the first time since 2012.
CMS also, released annual deductible for all Medicare Part B beneficiaries is $183.00 in 2018. It is the same annual deductible for Medicare Part B in 2017. However, Medicare Advantage and Medicare Prescription Drug plan premiums and deductibles already finalized and unaffected by this announcement.
Medicare Part A Premiums/Deductibles
Medicare Part A covers skilled nursing facility, some home health care services, and inpatient hospital. As a matter of fact, 99 percent of Medicare beneficiaries do not have Part A premium due to having at least 40 quarters of Medicare-covered employment. For inpatient hospital Medicare Part A annual deductible is $1,340 for 2018. It is an increase of $24 from $1,316 compared to 2017.
For additional 2018 Medicare Part A & B premiums and deductibles information, please visit: https://www.cms.gov/
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