Cost Sharing for Medicare, Not As Bad as Originally Feared: 2016 Medicare Premiums, Deductibles and Co-Payments Announced

November 13, 2015 - By: Danbury-Seniors

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2016 Medicare Premiums, Deductibles and Co-payments Announced

This week the Centers for Medicare & Medicaid Services released the Medicare premium, deductible and co-pay amounts for 2016.  As the Center for Medicare Advocacy has extensively reported, the Part B Premium, which was feared to spike outrageously for many beneficiaries, will instead remain the same for most, and increase far less for the rest.  Below are the 2016 cost-sharing amounts.

Part A Premium (For those not automatically enrolled)

• 0-29 qualifying quarters of employment: $411.00
• 30-39 quarters: $226.00

Inpatient Hospital

• Deductible, Per Spell of Illness: $1,288.00
• Co-pay, Days 1 – 60: $0
• Co-pay, Days 61 – 90: $322.00/day
• Co-pay, Lifetime Reserve Days: $644.00/day

Skilled Nursing Facility

• Co-pay, Days 1 – 20: $0
• Co-pay, Days 21 – 100: $161.00

Standard Monthly Part B Premium

• $121.80 for new enrollees and those not “held harmless” (See our 10/28/2015 CMA Alert)
• $104.90 for those “held harmless”

Part B Deductible

• $166.00 for all Part B beneficiaries.

Part B Income-Related Premiums

• Income less than or equal to $85,000 ($170,000 /couple): $121.80
• Greater than $85,000 and less than $107,000 ($170,000 – $214,000/couple): $170.50
• Greater than $107,000 and less than or equal to $160,000 ($214,000 – $320,000/couple): $243.60
• Greater than $160,000 and less than or equal to $214,000 ($320,000 – $428,000/couple): $316.70
• Greater than $214,000 ($428,000/couple): $389.80