Medicare Part A and B Premiums Announced for 2018

Part A and B premiums 2018

On Friday, the Centers for Medicare and Medicaid Services (CMS) announced the Medicare Part A and B premium amounts for 2018.

  • The standard Part B premium will remain the same, at $134 per month.
  • The annual deductible for Part B will be $183, the same as 2017.
  • People who have at least 40 quarters of Medicare-covered employment pay no premium for Part A. The Part A premiums for people with 30-40 quarters of coverage will be $232 per month (an increase of $5), and for those with fewer than 30 quarters, the monthly premium will be $422, (an increase of $9).
  • The Part A annual deductible will be $1,340 per benefit period, an increase of $24 from 2017.

Even though the Part B premium is not changing, millions will pay a higher premium (jumping from $109 to $134) than they did in 2017 due to the 2% Social Security Cost of Living Adjustment (COLA) for 2018. In addition, we already reported on the changes to the income brackets for higher earners. Beneficiaries starting at an income of $133,500 for a single will pay higher-income surcharges on Part B.

Medicare Advantage and Part D estimates

As far as Medicare Advantage and Part D costs, CMS estimates that:

  • The average monthly premium for Medicare Advantage will decrease by $1.91 to $30.
  • More than ¾ of Medicare Advantage enrollees who stay in their current plan will have the same or lower premium for 2018.
  • The average basic premium for a Medicare Part D prescription drug plan should decline to $33.50 per month (compared with $34.70 in 2017).

Premiums and deductibles for Medicare Advantage plans and Medicare Part D prescription drug plans can be found by contacting the plan directly, and do not correlate with the Original Medicare Part A and B premiums and deductibles that were announced on Friday.

Related Links

Everything You Need to Know About Medicare Part B

House Passes Bill to Improve Medicare Part B

Medicare Part A and B Won’t Cover These Services

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