2016 Medicare Deductibles

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.
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.

[gravityform id=”8″ name=”Contact Form”]