2017 Medicare Premium Increase Announced

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Image courtesy of the Huffington Post

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.

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