Medicare Changes for 2017

Matthew Claassen, CMT – An Independent Insurance Broker

Our company mission is to provide you with the information you need so that you can make an informed decision about your Medicare choices.

Medicare Changes for 2017

Each year Medicare announces changes to the co-pays and deductibles associated with Medicare Part A and Medicare Part B. Keeping up with these Medicare Updates is important.  As we have recorded videos and written articles over years, some of the co-pays and deductibles mentioned have changed. With this video detailing the Medicare changes for 2017, I hope to bring you up to speed to the current co-pays, deductibles and costs associated with Medicare and some Medicare Supplement plans.

Of course, you can also find this information on Medicare.gov.  We have provided a link below this video.

Medicare Changes for 2017 – Medicare Part A & Part B

 

Links:

Medicare.gov page detailing the new deductibles, copays and Income-Related Monthly Adjustment Amount (IRMAA) Medicare 2017 Costs at a Glance

Proposed new Medicare Supplement Benefit Table

Medicare Changes for 2017

Part A Hospital inpatient deductible:  $1,316 – This is a per event deductible. Each event resets after you have been discharged from a hospital for 60-days. If you have a supplement, no worries that is paid for by your supplement. 

Part B Outpatient & Physician services:  If you will be new to Medicare in 2017 or if you are not yet collecting Social Security income, your Medicare part b premium will be $134 with some exceptions. First, keep in mind, that once you are on Medicare AND collecting Social Security income AND paying your Part B premium through your Social Security check, increases in your Medicare Part B premium are linked to your Social Security COLA. The Part B Premium cannot increase more than your COLA.

Depending on your level of income, you could also be subject to an Income Related Monthly Adjustment Amount. Your Part B premium and your Part D prescription drug premium will be adjusted higher if your Modified AGI is greater than $85,000 for an individual return, or $170,000 if you file jointly. There are brackets (show), and Medicare looks at your income from 2-years ago to make this assessment. Check out the Medicare.gov link below for details.

In addition to a premium, Medicare Part B also has an annual deductible For 2017 that deductible is just $183. While this deductible has historical gone both up and down, you can expect it to generally rise to around $250 in the 7-10 years. For now, it’s $183. 

Plan F-HD $2,200

The deductible amount is written into Social Security law to be linked to your Social Security COLA.  It can change every year.  In 2016 it was $2,180.  In 2017 it is $2,200

Medicare Card # change

Also, many people are still not aware that ta law was signed to change or fix your Medicare ID Claim #.  Right now your Medicare Claim # printed on your Medicare card is either your or your spouse’s Social Security # with a letter at the end.  The letter is a code for how you qualified for coverage.  But what is important is that every Identity thief and their cousin know that your Medicare Card has your Social security # on it.  It’s the number one source of ID theft in the US.  This is scheduled to change in either 2018 or 2019.  Everyone will get a new number not linked to Social Security or any of your personal data. 

In the meantime, we suggest that you photocopy your card and black out all but the last four digits.  You may have to photocopy it one more time so strangers cannot read the bleed through.  Carry the photocopy with you.  Leave your original in a safe place except for when you are seeing a doctor for the first time.

New table

Lastly, looking further out another change in Medicare is scheduled for January 01, 2020.  Medicare Supplements Plan F and Plan C will be phased out.  A new Medicare Supplement Plan G –HD will be introduced. The new Medicare Supplement is expected to look like this.  They can still change this, but this is what is currently expected.

Watch the other videos in this series here: All About Medicare

If you are new to Medicare by just turning 65 or simply new to Medicare Part B, or if you have an existing Medicare Supplement and due to recent price increases want to know if it’s an overpriced Medicare Supplement, we can help. We are 100% independent. As an independent insurance broker we represent your best interest, not the interest of an insurance company.  Agents that work for an insurance company must represent that companies interest and not the consumer.

Our service is free. You cannot save money or reduce your Medicare Supplement premiums by not using our service. As an independent insurance broker, we offer all Medicare Supplement plans from all major carriers. We put all the cards on the table for you and show you all your options and costs. That alone saves you days of work.  Then you decide the right plan and company for you. When you work with us, the insurance company you choose to insure you will pay our commission out of their pocket, not yours. You cannot reduce your premium by doing it yourself.

Contact Us

MedigapSeminars.org on YouTube!

Subscribe to my YouTube channel and view my latest videos!

Medigap Seminars YouTube

Independent Medicare Insurance Broker

Matthew Claassen is an independent Medicare insurance broker specializing in Medicare plans. Neither Mr. Claassen nor MedigapSeminars.org are employed by, endorsed or represent CMS, Medicare or Medicaid or the US Government. We are insurance representatives and not a government organization.

© 2015-2018 Matthew Claassen & MedigapSeminars.org based in Jupiter, Florida. No content from this site may be reproduced without permission.

He is an independent Medicare insurance broker servicing all of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wyoming. Our most recent Florida clients come from Palm Beach Gardens, Sarasota, Port Saint Lucie, Stuart, West Palm Beach, Broward County, Miami, Tallahassee, Orlando, Gainesville, Tampa, Clearwater, Saint Petersburg, Fort Myers, Delray, Lake City, Martin County, Manatee County. Boca Raton, Fort Lauderdale, Naples, Cape Coral, Daytona Florida and more.

It doesn’t matter if you are just turning 65 and learning about Medicare for the first time, or have an existing Medigap plan. If you want to be certain you have the right Medigap plan coverage and are paying no more than you have to, we can help. We can help you through either our public Medigap plan and Medicare online seminars or through private no-obligation consultation. Get the best Medigap plan for you at the best price possible.You can also visit my agency website at ShieldInsuranceSolutions.com or call at 800-847-9680. Florida License #W176030 – National Producer # 765847

We are licensed and do business in state’s coast to coast including Florida, Virginia, Maryland, Pennsylvania, Indiana, Illinois, Alabama, Oklahoma, California, Arizona, New Hampshire, Georgia, Tennessee, Washington and more.

We do business in all Florida, FL, towns, cities and counties. In just the last six months, our clients have come from Palm Beach, Martin, Jupiter, Tequesta, Port Saint Lucie, Broward, Miami, Tampa, St. Petersburg, Seminole, Lakeland, Yankeetown, Largo, Labelle, Jackson, Pensacola, Daytona, Delray, Sarasota, Tallahassee, Orlando, Jupiter, Saint Augustine and Palm Beach Gardens, FL.

Contact Us Today

Medigap Seminars Insurance Agency
110 Front St. Suite 300
Jupiter, FL 33477
561-536-5565

Pin It on Pinterest

Share This