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2016 Medicare premiums unchanged for most
For most of the year, people getting Social Security have worried about Medicare Part B premiums going up, but Senior Correspondent Mike Causey says it's all go...
Medicare Part B premiums for most Social Security recipients will remain unchanged in 2016. Most will continue to pay the same premium as this year which is $104.90 per month.
For much of this year, many Part B retirees feared the 2016 premium might jump to $160 per month, or even more. But thanks to the so-called “hold harmless” provision, and action from both the White House and Congress, most people with the coverage won’t see any increase next year.
Most people qualify for Part A Medicare which covers inpatient hospitalziation, skilled nursing and hospice care and some home health services.
Part B, which individuals must purchase separately, covers doctors and outpatient services. That’s the one you pay monthly premiums for.
The Centers for Medicare & Medicaid Services (CMS) explained that beneficiaries not subject to the “hold harmless” provision will pay $121.80 per month in 2016 for Part B coverage. People who are not protected by the “hold harmless” provision “are those not collecting Social Security benefits, those who will enroll in Part B for the first time in 2016, dual eligible beneficiaries who have their premiums paid by Medicaid, and beneficiaries who pay an additional income-related premium.” The latter is not a bad problem to have because they must pay the higher premium levels if they have extremely high adjusted gross incomes. if their individual adjusted gross income is $85,000 or higher per year, of for a couple if the AGI exceeds $170,000 per year.
Retirement Webinar: Members of the National Association of Retired Federal Employees can listen (anytime) to a webinar featuring benefits expert Tammy Flanagan. It’s free for NARFE members and $39.95 for non- members and includes a 1-year membership!
Nearly Useless Factoid
Patrick Bertoletti holds the record for consuming a 22-ounce 7-Eleven Slurpee in the shortest amount of time: 9 seconds.
Source: Major League Eating
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Mike Causey
Mike Causey is senior correspondent for Federal News Network and writes his daily Federal Report column on federal employees’ pay, benefits and retirement.
Follow @mcauseyWFED
