Javascript is not enabled.

Javascript must be enabled to use this site. Please enable Javascript in your browser and try again.

Medicare Part B Cost Rising for Social Security Beneficiaries Skip to content

Your pain isn't like anyone else's, and science is homing in on better treatments. Read about the newest ways to break pain's grip.

 

Medicare Part B Cost Going Up for Many

Standard premium holds steady, but many Social Security recipients will pay more

Medicare Part B Premiums

Andrew Unangst/Getty Images

Seniors have until Dec. 7 to make their Medicare choices for next year.

En español | The Medicare Part B standard monthly premium will remain at $134 for 2018, according to the Centers for Medicare and Medicaid Services (CMS). But most beneficiaries — those whose premiums are automatically deducted from their Social Security payments — will pay more than they did in 2017 for the physician portion of Medicare next year.

The Part B annual deductible also remains unchanged at $183. After paying the Part B deductibles, Medicare enrollees are responsible for 20 percent of Part B services, which include doctor visits and some outpatient care. 

If the standard premium stays at $134, why will many beneficiaries pay more? A “hold harmless” provision in federal law prohibits Medicare from raising Part B premiums if that action would reduce beneficiaries’ Social Security benefits

That’s why in 2017 Social Security beneficiaries paid an average $109 a month: Social Security payments had not increased. But in 2018, the Social Security cost-of-living adjustment (COLA) will increase benefits by 2 percent. 

Because of the COLA, CMS estimates that 42 percent of Social Security recipients on Medicare will pay the full $134 premium in 2018, while 28 percent will see less than $134 deducted from their Social Security payment.

Medicare officials also announced that the 2018 Part A hospital deductible will be $1,340, an increase of $24 over 2017.

There are just 18 days before the close of Medicare’s open enrollment period for 2018. Seniors have until Dec. 7 to make their Medicare choices for next year.

CMS announced this year that the average monthly premium for Medicare Advantage plans would be $30 for 2018. That premium is in addition to the Part B monthly payment. In addition, the average Part D prescription drug premium will be $33.50 for 2018.  Premiums for the MA plans and Part D vary based on where recipients live and what plan they select.

Join the Discussion

0 | Add Yours

Please leave your comment below.

You must be logged in to leave a comment.

GO TO THIS ARTICLE