Thursday, November 12, 2015

2016 Medicare Pt B Premiums - NOT AS BAD AS WE THOUGHT!

This from Medicare.gov
https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html

2016

In 2016, the standard Part B premium amount will be $121.80 (or higher depending on your income). Most people who get Social Security benefits will continue to pay a Part B premium of $104.90 each month. You'll pay a different premium amount in 2016 if: 
  • You enroll in Part B for the first time in 2016.
  • You don't get Social Security benefits.
  • You have Medicare and Medicaid, and Medicaid pays your premiums.
  • Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount.
If you're in 1 of these 4 groups, here's what you'll pay:
If your yearly income in 2014 (for what you pay in 2016) wasYou pay (in 2016)
File individual tax returnFile joint tax returnFile married & separate tax return
$85,000 or less$170,000 or less$85,000 or less$121.80
above $85,000 up to $107,000above $170,000 up to $214,000Not applicable$170.50
above $107,000 up to $160,000above $214,000 up to $320,000Not applicable$243.60
above $160,000 up to $214,000above $320,000 up to $428,000above $85,000 and up to $129,000$316.70
above $214,000above $428,000above $129,000$389.80
Get more information about your Part B premium from Social Security.

Part B deductible & coinsurance

You pay $147 per year for your Part B deductible ($166 in 2016). After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you're a hospital inpatient), outpatient therapy, and durable medical equipment.

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