For 2017, some are projecting an increase up to $149/month for individuals that are not held harmless - those not currently taking their Social Security benefits and in the first income tier (currently <$85k/year MAGI for single, <$170/year MAGI for filing joint returns).
If an individual is currently taking Social Security benefits (and in the first income tier), the Part B premiums cannot increase at a greater rate than the Social Security COLA due to the 'hold harmless provision".
So what does this all mean?
At this point - not much. It is just a guideline for what "could happen". The government didn't actually finalize the 2016 changes until Oct 30, 2015 so it's very possible we may not know the final decision on Part B premiums (or deductibles) until the end of October again.
If you Part B premiums do increase, it is a great time to shop for the best Medicare Supplement available to make sure you offset any increases in premiums with some savings with your Medicare Supplement. People switching from a Plan F to a Plan G save an average of $500-600/year in premiums and the only difference in coverage is the Part B deductible ($166 in 2016).
If you would like a FREE quote for a Plan G to see if you have the best value, Call now
(1-908-272-1970) Cranford Office
(1-856-866-8900) Moorestown Office