t seems the federal government want to make changes with Medicare, and they are not good. Maybe our government want to make everyone unhappy with our healthcare systems. Here are some of the changes that will go into effect in 2016.
- Medicare Part B has planned pricing increases. However, if you have your Part B premiums taken out of Social Security benefits, you will not have to pay the increase. This is due to a technicality. There is no cost-of-living adjustment, known as COLA, being given this year to Social Security beneficiaries.
- According to the 2015 Medicare Trustees Report, Part B premiums are expected to increase for 30% of beneficiaries by 52% – from $104.90 to $159.30 per month. The trustees also predict that this increase will be accompanied by an increase in the Part B deductible for everyone – up to $223 from $147.
- Medicare Part B deductibles will increase. While many Medicare beneficiaries have supplemental or other coverage that includes coverage of the deductible, many plan carriers will just pass along these increased costs to the premiums on those plans.
- Drug coverage. Five of the 10 most popular Part D plans have announced plans to raise 2016 premiums by 16 percent to 26 percent.
- The number of drug-plan choices for Medicare participants continues to drop. On average, seniors will have about 26 plans to choose from in 2016, which is down by more than half in less than a decade.
