2016 Medicare Part A and Part B Premium and Deductibles

Medicare Part A and Part B changes from 2015 to 2016

You may be aware that premiums and deductibles for both Medicare Part A and Medicare Part B fluctuate from year to year. The Medicare administration has announced Medicare Part A and Part B rates for 2016, with changes taking effect Jan. 1, 2016.

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Medicare Part A in 2016

2016 Medicare Part A Premium: $411

The Medicare Part A premium, which only about 1 percent of Medicare recipients are required to pay, will be $411, a $4 increase from the 2015 rate of $407. If you have 40 quarters of Medicare covered employment, you will not be required to pay a Medicare Part A premium.

2016 Medicare Part A Deductible: $1,288

The 2016 Medicare Part A in patient hospital deductible will be $1,288 per benefit period, up $28 from $1,260 per benefit period in 2015.

2016 Medicare Part A Co-payments: $322

The cost of spending 61-90 days in the hospital will be $322 per day, which is a $7 increase from the 2015 rate of $315. For a hospital stay of 91-150 days, the per-day Medicare Part A co-payment in 2016 is $644, a $14 increase from $630 in 2015. After 150 days, Medicare no longer helps pay for hospital expenses.

2016 Medicare Part A Skilled Nursing: $161

After 20 days in a skilled nursing facility, the per-day Medicare Part A skilled nursing co-payment in 2016 will be $161, or $3.50 more than in 2015 rate of $157.50.

Medicare Part B in 2016

2016 Medicare Part B Premium: $104.90

The standard 2016 Medicare Part B premium will remain at $104.90 per month, the same rate as in 2015. Higher Part B premium rates for people with higher incomes will also remain at 2015 levels.

2016 Medicare Part B Deductible: $166

The Medicare Part B 2016 deductible will be $166, or $17 more than 2015.

Medigap Protection Against Deductibles, Co-pays, and Coinsurance

Medicare supplement plans go a long way toward helping eliminate Medicare out-of-pocket costs that often go up from one year to the next. An excellent, budget-friendly solution is Medicare Supplement Plan F, which covers all Medicare-approved costs not covered by Medicare Part A and Medicare Part B. With fixed premiums that can easily fit into your budget, Plan F covers all Medicare Part A and Part B deductibles along with “excess charges” you would otherwise have to pay out of pocket. Excess charges are the difference between what Medicare pays and what your medical provider charges—and they can add up fast without the protection Plan F provides! To learn more about how Medicare supplement plans can save you money, request a free Medigap quote from one of our licensed Medicare supplement insurance representatives or call MedicareMall toll-free at (877) 413-1556.

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