Medicare Part B Premiums and Deductibles To Stay The Same In 2015 As Last 2 Years

October 17, 2014

Good news for the 49 million Americans who are enrolled in Medicare Part B: premiums and deductibles will be the same for 2015 as the last two years.

According to the U.S. Department of Health and Human Services, Part B monthly premiums will hold at $104.90 and the annual deductible at $147.00. Since 2007, Part B beneficiaries with higher incomes have paid higher monthly premiums. These income-related monthly premium rates, which affect less than 5% of people with Medicare, will also remain the same as they were in 2014.

Part B covers “physicians’ services, outpatient hospital services, certain home health services, durable medical equipment,” among other things.

HHS Secretary Sylvia Burwell attributed the stable premiums and deductibles to lower health care cost growth within Medicare since the passage of the Affordable Care Act. Medicare spending grew just 0.8% annually over the past four years, much lower than the 3.1% annual increase in per capita GDP over the same period.

“The Affordable Care Act is working to improve affordability and access to quality care for seniors and people with disabilities,” said Secretary Burwell.

Stable premiums and deductibles leave more money in the pockets of seniors, who may already be limited by fixed incomes and other financial constraints.

To read the entire press release, which includes tables detailing amounts that will be paid by beneficiaries based on income, click here.

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