According to the Centers for Medicare and Medicaid Services, the average premium for Medicare Part B, which covers physician services, outpatient hospital services and medical equipment, will rise to approximately $109.00.
“That’s just slightly more than the typical premium of $104.90, which has been in place for the last four years,” said Darla Mercado personal finance writer for CNBC.
Mercade insists that you can expect to pay these higher Medicare Part B costs in the following situations:
- You’re eligible to enroll in Medicare for the first time in 2017.
- You’re enrolled in Medicare, but you’re not collecting Social Security.
- You’re already subject to Medicare premium surcharges because you didn’t enroll on time and you pay a penalty.
Click the link below for more from Mercado and her breakdown of what your premiums will look like in 2017.