Medicare Deductibles to increase in 2016

Goodbye 2015 and hello increased Medicare deductibles. For your convenience, we’ve provided a summary of the new deductibles for Medicare, including the Medicare Part B deductible which will most noticeably impact beneficiaries with: Medicare Supplement Plans G, A, B,D, K, L, M, N.

Medicare Increased each deductible in 2016 to the following amounts.

How increased Medicare deductibles impact retirees

If you have a Medicare Supplement policy, you should expect an increase in your premium. If your plan covers part B of Medicare, expect your increased premium to account for the part B increase (in addition to the others factors that will likely raise your premium each year). If your plan does not cover the part B deductible, your calendar year deductible is now $166 (13% increased from the $147 deductible in 2015).

What retirees should do

If you’re on Medicare and only require a few prescriptions, it is in your best interest to shop different supplemental insurance plans each year. If you have had the same plan for 3 years or more, there is a good chance you could save money on the same plan with a different company.

Have questions?

Contact us below and we will be happy to give you our 2 cents.