2018 Medicare Part A & Part B Coverage Changes

The centers of Medicare & Medicaid Services (CMS) released the new 2018 Medicare Part A & Part B Coverage Changes for premiums, deductibles and coinsurance amounts for the Medicare Part A and Part B programs.

Below, we’ll discuss the 2018 coverage changes for Medicare Part A & Part B

2018 Coverage Changes for Medicare Part A & Part B

2018 Medicare Part A & Part B Coverage Changes

Medicare Part A Premium for 2018

The majority of Medicare beneficiaries, around 99%, do not have a Part A premium due to working at least 40 quarters of Medicare covered employment.

Beneficiaries with less than 40 quarters of coverage pay a monthly premium to be enrolled in Medicare Part A.

If you had at least 30 quarters of coverage, or were married to someone who had at least 30 quarters of coverage, you may buy into Part A at a reduced monthly premium. The monthly premium rate will be $232 in 2018, which is a $5 increase from 2017.

If you had less than 30 quarters of coverage, you’ll be required to pay the full premium to get coverage.

Medicare Part A Deductible and Coinsurance Amounts for 2018

First, the Medicare Part A deductible will increase to $1,340 per benefit period in 2018. That’s a $24 difference from $1,316 in 2017.

Part A will cover beneficiaries shared costs for Medicare-covered inpatient hospital care the first 60 days in a benefit period.

Second, beneficiaries must pay a coinsurance amount of $335 per day for days 61-90. That’s an increase of $6 from $329 in 2017.

Beneficiaries must also pay $670 per day for lifetime reserve days. That’s an increase of $12 from $658 in 2017.

Finally, beneficiaries in a skilled nursing facility will have a daily coinsurance for days 21-100. The coinsurance will be $167.50 in 2017, that’s an increase of $3 from $164.50 in 2017.

Medicare Part B Changes for 2018

The standard monthly premium for Medicare Part B will remain $134, same as 2017.

The 70% of beneficiaries who are protected under the “hold harmless” provision will see some premium increase amount in 2018.

It’s estimated that 42% of Part B enrollees that are protected will have to pay the full monthly premium.

The 30% of beneficiaries who are not protected under the provision will continue to pay the full premium of $134 per month in 2018.

However, those beneficiaries with higher incomes who pay the additional Income Related Monthly Adjustment Amount (IRMAA) may see an increase in their premiums.

You can find out more information on IRMAA, COLA increase and the Medicare Part B premium for 2018 here.

Medicare Part B Deductible for 2018

The annual Medicare Part B deductible will remain $183 in 2018. That’s the same amount it was in 2017.

Medicare Advantage and Medicare Prescription Drug plans are unaffected by these changes. You can review the 2018 Medicare Prescription Drug plan information here.

Compare 2018 Medicare Rates Online

We understand how difficult it is to understand and keep up with all the changes around Medicare. For assistance, call or click to get advice from a licensed expert on our team.

You can compare 2018 Medicare rates online here!

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