Premiums and deductibles on Medicare plans will see only nominal increases for most beneficiaries in 2019, according to the Centers for Medicare and Medicaid Services.
Individual enrollees and couples in Part B plans that make less than $85,000 and $170,000, respectively, will see a standard monthly premium increase of $1.50 to $135.50.
Wealthier retirees will see more substantial increases to Part B premiums, which are based off retirees' income. About 5 percent of Part B enrollees are affected by income-related monthly adjustment amounts:
- Individuals with income between $85,000 and $107,000, and couples with earnings between $170,000 and $214,000 will see a $54.10 monthly premium increase, to $189.60.
- Individuals with income between $107,000 and $133,500 and couples with earnings between $214,000 and $267,000 will see a $135.40 monthly premium increase, to $270.90.
- Individuals with income between $133,500 and $160,000 and couples with earnings between $267,000 and $320,000 will see a $216.70 monthly premium increase, to $352.20.
- Individuals with income between $160,000 and $500,000 and couples with earnings between $320,000 and $750,000 will see a $297.90 monthly premium increase, to $433.40.
- Individuals with income exceeding $500,000 and couples with earnings more than $750,000 will see a $325.00 monthly premium increase, to $460.50.
Part B plans cover physician services, outpatient services, and some home health services.
Part B premiums and Social Security COLA
Part B premiums are deducted from Social Security payments. This week, the Social Security Administration announced a 2.8 percent cost of living adjustment to account for year-over-year inflation.
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