2016 Medicare Changes Finalized

Centers for Medicaid & Medicare Services (CMS) sent out a bulletin yesterday with the official changes for 2016 with regards to Medicare Premiums, Deductibles and Co-Pays.

The key changes are summarized below.

Part B: Monthly Premiums increase ~15%

The 2015 Part B Premiums are in the table above.  The majority of people pay the $104.90/month in 2015.

The 2016 Part B Premiums are in the table above.  The increase is approximately 15%, except for those that are "held harmless".

Part B (Outpatient/Medical) Deductible increases $19

In 2015, the Part B deductible is $147.  In 2016, it will increase to $166.

See how this impacts Plan G and Plan F coverages.

Part A Deductible & Copays

The Part A deductible for the first 60 days of a hospitalization increases from $1,260 (in 2015) to $1,288 (in 2016).  

• For days 61-90, there is a co-pay of $315/day in 2015.  This increases to $322/day in 2016.  
  
• For days 91+, there is a co-pay of $630/day in 2015.  This increases to $644/day in 2016.
  

If you get transferred to a skilled nursing facility as part of a hospitalization, the first 20 days are covered by Medicare.  For days 21-100,  there is a copay of $157.50/day in 2015.  This is increasing to $161/day in 2016.