BC Advantage - 2016 Issue 12

2017 MEDICARE PARTS A & B PREMIUMS AND DEDUCTIBLES ANNOUNCED

The Centers for Medicare & Medicaid Services (CMS) announced the 2017 premiums for the Medicare inpatient hospital (Part A) and physician and outpatient hospital services (Part B) programs. Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items. On October 18, 2016, the Social Security Administration announced that the cost-of-living adjustment (COLA) for Social Security benefits will be 0.3 percent for 2017. Because of the low Social Security COLA, a statutory "hold harmless" provision designed to protect seniors, will largely prevent Part B premiums from increasing for about 70...

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