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.
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.
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