Posts Tagged ‘Medicare Part B’

RRB releases Medicare Part B premiums for 2019

The Centers for Medicare & Medicaid Services has announced that the standard monthly Part B premium will be $135.50 in 2019, a slight increase from $134.00 in 2018. However, some Medicare beneficiaries will pay slightly less than this amount. By law, Part B premiums for current enrollees cannot increase by more than the amount of the cost-of-living adjustment for social security (railroad retirement tier I) benefits.

Since that adjustment is 2.8 percent in 2019, about 2 million Medicare beneficiaries will see an increase in their Part B premiums but still pay less than $135.50. The standard premium amount will also apply to new enrollees in the program, and certain beneficiaries will continue to pay higher premiums based on their modified adjusted gross income.

The monthly premiums that include income-related adjustments for 2019 will range from $189.60 up to $460.50, depending on the extent to which an individual beneficiary’s modified adjusted gross income exceeds $85,000 (or $170,000 for a married couple). The highest rate applies to beneficiaries whose incomes exceed $500,000 (or $750,000 for a married couple). The Centers for Medicare & Medicaid Services estimates that about 5 percent of Medicare beneficiaries pay the larger income-adjusted premiums.

Beneficiaries in Medicare Part D prescription drug coverage plans pay premiums that vary from plan to plan. Part D beneficiaries whose modified adjusted gross income exceeds the same income thresholds that apply to Part B premiums also pay a monthly adjustment amount. In 2019, the adjustment amount ranges from $12.40 to $77.40.

The Railroad Retirement Board withholds Part B premiums from benefit payments it processes. The agency can also withhold Part C and D premiums from benefit payments if an individual submits a request to his or her Part C or D insurance plan.

The following tables show the income-related Part B premium adjustments for 2019. The Social Security Administration (SSA) is responsible for all income-related monthly adjustment amount determinations. To make the determinations, SSA uses the most recent tax return information available from the Internal Revenue Service. For 2019, that will usually be the beneficiary’s 2017 tax return information. If that information is not available, SSA will use information from the 2016 tax return.

Those railroad retirement and social security Medicare beneficiaries affected by the 2019 Part B and D income-related premiums will receive a notice from SSA by the end of the year. The notice will include an explanation of the circumstances where a beneficiary may request a new determination. Persons who have questions or would like to request a new determination should contact SSA after receiving their notice.

Additional information about Medicare coverage, including specific benefits and deductibles, can be found at www.medicare.gov.

2019 PART B PREMIUMS 

Beneficiaries who file an individual tax return with income:

Beneficiaries who file a joint tax return with income:

Income-related monthly adjustment amount

Total monthly Part B premium amount

 

Less than or equal to $85,000 

Less than or equal to $170,000

$0.00

$135.50

Greater than $85,000 and less than or equal to $107,000 

Greater than $170,000 and less than or equal to $214,000

$54.10

$189.60

Greater than $107,000 and less than or equal to $133,500 

Greater than $214,000 and less than or equal to $267,000

$135.40

$270.90

Greater than $133,500 and less than or equal to $160,000

Greater than $267,000 and less than or equal to $320,000

$216.70

$352.20

Greater than $160,000 and less than $500,000

Greater than $320,000 and less than $750,000

$297.90

$433.40

$500,000 and above

$750,000 and above

$325.00

$460.50

 

The monthly premium rates paid by beneficiaries who are married, but file a separate return from their spouses and who lived with their spouses at some time during the taxable year, are different.  Those rates are as follows:

 

Beneficiaries who are married, but file a separate tax return, with income:

Income-related monthly adjustment amount

Total monthly Part B premium amount

Less than or equal to $85,000

$0.00

$135.50

Greater than $85,000 and less than $415,000

$297.90

$433.40

$415,000 and above

$325.00

$460.50

 

RRB: Medicare Part B premiums for 2017

RRB_sealThe Centers for Medicare & Medicaid Services has announced that the standard monthly Part B premium will be $134.00 in 2017. However, most Medicare beneficiaries will not pay this amount. By law, Part B premiums for current enrollees cannot increase by more than the amount of the cost-of-living adjustment for social security (railroad retirement tier I) benefits.

Since that adjustment is 0.3 percent in 2017, about 70 percent of Medicare beneficiaries will see only a slight increase in their Part B premiums. The higher premium amount will apply to new enrollees in the program, and certain beneficiaries will continue to pay higher premiums based on their modified adjusted gross income.

The monthly premiums that include income-related adjustments for 2017 will be $187.50; $267.90; $348.30 or $428.60, depending on the extent to which an individual beneficiary’s modified adjusted gross income exceeds $85,000 (or $170,000 for a married couple). The highest rate applies to beneficiaries whose incomes exceed $214,000 (or $428,000 for a married couple). The Centers for Medicare & Medicaid Services estimates that less than 5 percent of Medicare beneficiaries pay the larger income-adjusted premiums.

Beneficiaries in Medicare Part D prescription drug coverage plans pay premiums that vary from plan to plan. Beginning in 2011, the Affordable Care Act required Part D beneficiaries whose modified adjusted gross income exceeds the same income thresholds that apply to Part B premiums to also pay a monthly adjustment amount. In 2017, the adjustment amount ranges from $13.30 to $76.20.

The Railroad Retirement Board (RRB) withholds Part B premiums from benefit payments it processes. The agency can also withhold Part C and D premiums from benefit payments if an individual submits a request to his or her Part C or D insurance plan.

The following tables show the income-related Part B premium adjustments for 2017. The Social Security Administration (SSA) is responsible for all income-related monthly adjustment amount determinations.  To make the determinations, SSA uses the most recent tax return information available from the Internal Revenue Service. For 2017, that will usually be the beneficiary’s 2015 tax return information. If that information is not available, SSA will use information from the 2014 tax return.

Those railroad retirement and social security Medicare beneficiaries affected by the 2017 Part B and D income-related premiums will receive a notice from SSA by December 2016.  The notice will include an explanation of the circumstances where a beneficiary may request a new determination.  Persons who have questions or would like to request a new determination should contact SSA after receiving their notice.

Additional information about Medicare coverage, including specific benefits and deductibles, can be found at www.medicare.gov

Medicare Part B premium costs for 2016

Palmetto_rgb_webThe Centers for Medicare & Medicaid Services (CMS) has released the 2016 Part B premium and deductible costs for 2016. Railroad Medicare processes claims for Part B services. 

The 2016 monthly premiums will remain unchanged for approximately 70 percent of Medicare beneficiaries. However, the remaining 30 percent will pay a different amount based on the following criteria:

  • those enrolling for the first time in 2016
  • individuals not receiving Railroad Retirement/Social Security benefits
  • those who are directly billed for their Part B premiums
  • those who have Medicare and Medicaid and Medicaid pays the premiums, or
  • individuals whose modified gross incomes from two years ago is above a certain threshold

For beneficiaries who meet one of those criteria, Part B premiums for 2016 will be based on their annual income in 2014.

Those filing individual tax returns with annual incomes (in 2014) noted here will pay the following in 2016:

  • less than or equal to $85,000 will pay $121.80 in 2016
  • greater than $85,000 and less than or equal to $107,000 will pay $170.50
  • greater than $107,000 and less than or equal to $160,000 will pay $243.60
  • greater than $160,000 and less than or equal to $214,000 will pay $316.70
  • greater than $214,000 will pay $389.80

Those filing joint tax returns with annual incomes (in 2014) noted here will pay the following in 2016:

  • less than or equal to $170,000 will pay $121.80  
  • greater $170,000 and less than or equal to $214,000 will pay $170.50
  • greater than $214,000 and less than or equal to $320,000 will pay $243.60
  • greater than $320,000 and less than or equal to $428,000 will pay $316.70
  • greater than $428,000 will pay $389.80

The rates are slightly different for married beneficiaries who lived with their spouse (at any time during the year) and file separate tax returns. Those filing separate tax returns with annual incomes (in 2014) noted here will pay the following in 2016:

  • Less than or equal to $85,000 will pay $121.80
  • Greater than $85,000 and less than or equal to $129,000 will pay $316.70
  • Greater than $129,000 will pay $389.80.

The Medicare Part B deductible will be increasing from $147 per year in 2015 to $166 per year in 2016. 

If you have questions about your Part B Premium, you can call the Railroad Retirement Board toll free at 877-772-5772 or for the hearing impaired (TTY) call 312-751-4701. General information can also be found at the RRB’s website at www.rrb.gov.

If you have questions about your Railroad Medicare coverage, you can call the Beneficiary Contact Center at 800-833-4455, or for the hearing impaired, call TTY/TDD at 877-566-3572. Customer Service Representatives are available Monday through Friday, from 8:30 a.m. until 7 p.m. ET.

Medicare Part B premiums for 2016

RRB_seal_150pxThe Centers for Medicare & Medicaid Services has announced that the standard monthly Part B premium will be $121.80 in 2016. However, most Medicare beneficiaries will not see an increase in their monthly Part B premiums because of a “hold harmless” provision in the law. Under that provision, Part B premiums cannot increase for current enrollees if there is no cost-of-living increase in social security benefits.

As a result, those individuals will continue to pay a monthly premium of $104.90, the same amount as in 2015. About 70 percent of Medicare beneficiaries will not see their Part B premiums increase due to this provision. However, the higher premium amount will apply to new enrollees in the program, and certain beneficiaries will continue to pay higher premiums based on their modified adjusted gross income.

The monthly premiums that include income-related adjustments for 2016 will be $170.50, $243.60, $316.70, or $389.80, depending on the extent to which an individual beneficiary’s modified adjusted gross income exceeds $85,000 (or $170,000 for a married couple). The highest rate applies to beneficiaries whose incomes exceed $214,000 (or $428,000 for a married couple). The Centers for Medicare & Medicaid Services estimates that less than 5 percent of Medicare beneficiaries pay the larger income-adjusted premiums.

Beneficiaries in Medicare Part D prescription drug coverage plans pay premiums that vary from plan to plan. Beginning in 2011, the Affordable Care Act required Part D beneficiaries whose modified adjusted gross income exceeds the same income thresholds that apply to Part B premiums to also pay a monthly adjustment amount. In 2016, the adjustment amount ranges from $12.70 to $72.90.

The Railroad Retirement Board (RRB) withholds Part B premiums from benefit payments it processes. The agency can also withhold Part C and D premiums from benefit payments if an individual submits a request to his or her Part C or D insurance plan.

The following tables (click here) show the income-related Part B premium adjustments for 2016. The Social Security Administration (SSA) is responsible for all income-related monthly adjustment amount determinations. To make the determinations, SSA uses the most recent tax return information available from the Internal Revenue Service. For 2016, that will usually be the beneficiary’s 2014 tax return information. If that information is not available, SSA will use information from the 2013 tax return.

Those railroad retirement and social security Medicare beneficiaries affected by the 2016 Part B and D income-related premiums will receive a notice from SSA by December 2015. The notice will include an explanation of the circumstances where a beneficiary may request a new determination.  Persons who have questions or would like to request a new determination should contact SSA after receiving their notice.

Additional information about Medicare coverage, including specific benefits and deductibles, can be found at www.medicare.gov.

Medicare Part B premiums remain the same in 2015

RRB_seal_150pxThe standard Medicare Part B monthly premium will be $104.90 in 2015, the same amount as in 2014.

Some beneficiaries will continue to pay higher premiums based on their modified adjusted gross income, but these amounts are also remaining the same as in 2014. The monthly premiums that include income-related adjustments for 2015 will be $146.90, $209.80, $272.70, or $335.70, depending on the extent to which an individual beneficiary’s modified adjusted gross income exceeds $85,000 (or $170,000 for a married couple). The highest premium rate applies to beneficiaries whose incomes exceed $214,000 (or $428,000 for a married couple). The Centers for Medicare and Medicaid Services estimates that less than five percent of Medicare beneficiaries pay the larger income-adjusted premiums.

Beneficiaries in Medicare Part D prescription drug coverage plans pay premiums that vary from plan to plan. Beginning in 2011, the Affordable Care Act required Part D beneficiaries whose modified adjusted gross income exceeds the same income thresholds that apply to Part B premiums to also pay a monthly adjustment amount. In 2015, the adjustment amount ranges from $12.30 to $70.80.

The Railroad Retirement Board withholds Part B premiums from benefit payments it processes. The agency can also withhold Part C and D premiums from benefit payments if an individual submits a request to his or her Part C or D insurance plan. The RRB will also begin withholding Part D income-related adjustment amounts from benefit payments in January 2015.

The following tables (click here) show the income-related Part B premium adjustments for 2015. The Social Security Administration is responsible for all income-related monthly adjustment amount determinations. To make the determinations, SSA uses the most recent tax return information available from the Internal Revenue Service. For 2015, that will usually be the beneficiary’s 2013 tax return information. If that information is not available, SSA will use information from the 2012 tax return.

Those railroad retirement and social security Medicare beneficiaries affected by the 2015 Part B and D income-related premiums will receive a notice from SSA by December 2014. The notice will include an explanation of the circumstances where a beneficiary may request a new determination. Persons who have questions or would like to request a new determination should contact SSA after receiving their notice.

Additional information about Medicare coverage, including specific benefits and deductibles, can be found at www.medicare.gov.