Changes In 2017 Medicare Costs

Changes in 2017 Medicare Costs Ahead

We at Claeys Group wish you a Happy New Year. With the new year comes hopes, dreams, and changes for the individual.

However, when you’re talking about Medicare, the new year does not bring hopes and dreams, but it does bring changes. These changes include increases in Medicare deductibles, copays, and premium. If you are on Medicare, these changes may be significant for you and will be good for you to know—if, simply, to amaze your friends and family with your knowledge.

2017 Medicare Part A Changes

To begin, the Medicare Part A deductible has increased from 2016 to 2017. So, what is Medicare Part A, and what does that deductible mean for you?

Medicare Part A provides coverage for hospitalization, hospice, home health, and skilled nursing. (For more specifics on this coverage, see How Does Medicare Work?) If you have Original Medicare without a supplement, that deductible means that if you enter the hospital, you will pay a deductible of $1,316. This deductible applies for each benefit period hospitalization of days 1-60.

This deductible has been raised from the 2016 deductible of $1,288. That is change number one.

Change number two concerns the Medicare Part A copays. If, for example, you are hospitalized for an extended period, you will pay a per-day copay of $329 for days 61 – 90, which is an increase from the 2016 copay of $322. However, Medicare also covers hospitalization for days 91 – 150, but that experiences comes with a 2017 copay of $658 for each day, while the 2016 per-day copay for that period was $644. (If your head is swirling in an attempt to grasp all of those numbers, hang in there, we will summarize with an easy-to-follow chart soon.)

2017 Medicare Part B Changes

Medicare Part B, which covers medical insurance (including doctor charges, outpatient medical [such as labs, tests, x-rays, MRIs, CT scans, and durable medical equipment], preventive services, and ambulance [among other things]), has its own deductible. This deductible, unlike the Part A deductible, is an annual deductible. For 2017, that deductible is $183, while it was $166 in 2016.

After meeting the Part B deductible, the individual with Original Medicare (without a supplement) will pay 20% of the remainder of his Part B costs for the rest of the calendar year. This remains the same as in 2016.

Overview of 2017 Medicare Changes

To see these differences more clearly, see the chart below:

2016 2017
Medicare Part A
Deductible (Days 1 – 60) $1,288 $1,316
Copay: Days 61 – 90 $322 $329
Copay: Days 91 – 150 $644 $658
Medicare Part B
Deductible $166 $183
Copay 20% 20%

 

2017 Medicare Part B Premium

One other change for 2017 is the Medicare Part B premium. This monthly premium goes from $121.80 to $134. (However, anyone enrolling onto Medicare Part B prior to 2016 has been grandfathered at a monthly premium of $104.90.)

What These Changes Mean for You

So, what do these changes mean for you? If you have a Plan F Medicare supplement, none of the Part A and Part B changes (outside of the premium) will affect you, as you will still have zero out of pocket for hospitalization and other medical charges (including doctor charges). If you possess a Plan G supplement, your annual deductible will move from $166 to $183, while other supplements will change according to their gaps in coverage. (Here is a list of supplements and their coverage. To discover which supplement is best for you, see Which Supplement Is Best for You?)

If you have Original Medicare, you will be directly affected by these changes. However, if you possess a Medicare Advantage Plan, these changes will not directly affect you, but they WILL affect Advantage Plans going forward. (And, if you have an Advantage Plan, you may be interested in Keys to Your Best Medicare Advantage Plan.)

Hope for Good Changes Ahead for You

Changes are expected, and Medicare does not disappoint, as it offers changes each year. But, hopefully, any other change you experience in 2017 will be for your very best. We at Claeys Group wish that for you.


Margie FisherMargie Fisher
22:38 13 Feb 24
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Laura BogenschutzLaura Bogenschutz
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Thompson FamilyThompson Family
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John Claeys helped me understand the in's and out's of Medicare. He found the best insurance and prescription plan to best suit my needs at an affordable price.Thank you John!Laurie Boriskie
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I had a 5 star experience and would recommend him. Always returning my calls promptly, very helpful and informative, listened to what my needs was regarding my Medicare. I truly felt comfortable with John's help to navigate through the maze of Medicare
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John did a great job of explaining Medicare and supplemental insurance. He was thorough and patient. He answered all of my questions. I greatly appreciated his help.
Leeann MoosLeeann Moos
17:26 06 Apr 23
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Rose WrightRose Wright
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Steve HenselSteve Hensel
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Deborah RounsavallDeborah Rounsavall
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13:12 07 Mar 23
John's knowledge is invaluable when it comes to navigating the murky water of Medicare plans. He answered all our questions in a manner we could understand and helped us compare benefits between plans, services, and providers readily available in our area. I am so happy we called on him to assist us! He handled EVERYTHING professionally and patiently and has followed up to make sure we are good. Highly recommend his 5 star service!
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T/D HT/D H
19:40 20 Feb 23
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Joyce SandvikJoyce Sandvik
20:32 30 Aug 22
John Claeys came to our house to talk about all aspects of Medicare. He wrote out some information on a notepad as he talked and answered our questions. He gave us the handwritten notes along with printouts of more information specific to my needs. My husband and I took o a few days to discuss the options. John took a list of my medications and researched all the available prescription insurance policies for me. He narrowed it down to the best policy (best prescription prices) for me. It was so easy and I felt confident I was getting exactly what I need when I turn 65. Every September, he will research prescription policies from my updated list of medications to find the best policy for my needs. Thanks to John Claeys for making this transition extremely easy and effortless.
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