All government insurance programs, including Medicare, undergo annual reviews. These reviews usually result in coverage amount, premium cost, and other adjustments to program features. Those currently enrolled in Medicare Parts A and B will see their costs rise, and anyone who newly applies in 2017 will see higher premiums and other financial changes as well.
Medicare Part A: Hospital and Skilled Nursing Coverage
For those with Medicare Part A, premium, deductible, and coinsurance amounts have risen in 2017. These are not the only changes to Part A, but they are the most crucial. You can find the full list of adjustments at Medicare.gov.
|Medicare Part A Feature||2016 Cost||2017 Cost|
|Monthly Premium (for individuals without a sufficient work history to qualify for premium-free coverage)||$411||$417|
|Coinsurance for hospital stays, 61-90||$322||$329|
|Coinsurance for hospital stays, days 91 and beyond||$644||$658|
|Coinsurance for skilled nursing home facilities, days 21-100||$161||$164.50|
Medicare Part B: Medical Coverage
Medicare Part A covers only hospital or skilled nursing care, while Medicare Part B ensures coverage for doctor visits, physical therapy, durable medical equipment, and other outpatient services.
Costs in Part B have risen in 2017 too, including premium and co-insurance amounts. Keep in mind though that most people who receive Social Security retirement or disability benefits, pay a lower Part B premium. On average, the Medicare Part B cost for a Social Security beneficiary is about $109 a month.
|Medicare Part B Feature||2016 Cost||2017 Cost|
|Income-influenced, Monthly Premium||$121.80 or higher||$34 or higher|
Social Security Disability and Medicare Benefits
With the change in political administration in 2017, Medicare and Medicaid reform are both on the agenda. This may mean additional changes to the Medicare program, but beneficiaries shouldn’t worry too much about what’s still on the horizon. All politicians know retirees and disability recipients depend on Medicare, just as they do Social Security. For this reason, reforms may bring additional changes but not a loss of coverage.