Several years ago, Part B cost most Medicare Beneficiaries $104.90 per month.  The amount has increased this year, however, your income plays a role in determining how much you pay:

If your yearly income in 2015 (for what you pay in 2017) was
File individual tax return File joint tax return File married & separate tax return You pay each month (in 2017)
$85,000 or less $170,000 or less $85,000 or less $134
above $85,000 up to $107,000 above $170,000 up to $214,000 Not applicable $187.50
above $107,000 up to $160,000 above $214,000 up to $320,000 Not applicable $267.90
above $160,000 up to $214,000 above $320,000 up to $428,000 above $85,000 and up to $129,000 $348.30
above $214,000 above $428,000 above $129,000 $428.60

You pay $183 per year for your Part B deductible. After your deductible is met, you typically pay 20% of the Medicare-approved amount for these:

  • Most doctor services (including most doctor services while you’re a hospital inpatient)
  • Outpatient therapy
  • Durable medical equipment

If you meet income and asset requirements, you may qualify for The Medicare Savings Program offered through your state.  If you do, then the State through the Medicaid Department may pay for your Part B Premium.  Check with your insurance agent or your State Medicaid Department for assistance with your application and to see if you qualify.

Many Medicare health insurance plans offer coverage with deductibles and lower your coinsurance obligation for Part A & Part B and/or Part D.

You can visit the Medicare.gov website for more information.

This information is brought to you by The Medicare Lady, Darlene Swaffar at seniormedicalchoices.com.