As we approach 2019, RetireMEDiQ provides you with important Medicare updates. The Centers for Medicare and Medicaid Services (CMS) recently announced the 2019 premiums and deductible amounts for Medicare Part B.
2019 Part B Premium & Deductible Figures
2019 Standard Part B Premium: $135.50 per month
Note: The 2018 standard Part B premium was $134.
2019 Part B Deductible: $185
Note: The 2018 Part B deductible was $183. Premiums and deductibles for Medicare Advantage and Medicare Prescription Drug plans are already finalized and are unaffected by this announcement.
The part B premium is subject to income claimed in 2017. If you filed an individual tax return greater than $85,000 or a joint return greater than $170,000 in 2017, your Part B premium may be higher.
Medicare Part B has a “Hold Harmless” provision, which annually applies to around 3 percent of enrollees. The provision states that an increase in Part B premiums must be less than the increase in the individual’s Social Security benefits. Read further about the Hold Harmless rule here.
Social Security benefits have remained relatively stable over the last few years, but in 2019 they will increase by 2.8 percent due to the Cost of Living Adjustment. As a result, some who were held harmless in the last several years will experience an increase in their Part B premium for 2019.