New Medicare Rates Set

The Medicare program has announced rates for 2018, with a $134 standard monthly premium for Part B (physicians and related services); for certain beneficiaries, the premium will be slightly lower, on average $130. The standard premium also was $134 in 2017 although many beneficiaries paid only $109 due to a complex provision called “hold harmless.” Those with annual taxable incomes above $85,000 for single filers and $170,000 for joint filers will be subject to surcharges that will range from about $54 to $295 a month depending on income, about the same as in 2017. The Part B annual deductible remains $183. In Part A, which covers hospitalization and related costs, the deductible will rise from $1,316 to $1,340 for the first 60 days and proportionate boosts also will apply to deductibles for longer periods.