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No change from Medicare Part B Premiums and Deductibles

No change from Medicare Part B Premiums and Deductibles
Posted at 6:33 PM, Oct 09, 2014
and last updated 2014-10-09 14:54:59-04

2015 Medicare Part B Premiums and Deductibles to Remain the Same as Last Two Years

 Secretary of Health and Human Services Sylvia Burwell announced today that next year's standard Medicare Part B monthly premium and deductible will remain the same as the last two years.  This leaves more of seniors' cost of living adjustment from Social Security in their pockets.

For the approximately 3,391,171 Floridians enrolled in Medicare Part B, premiums and deductibles will remain unchanged in 2015 at $104.90 and $147 respectively.  CMS also recently announced that the average premium for people enrolled in a Medicare Part D prescription drug plan is estimated to increase modestly to $32 per month.  According to the HHS Office of the Assistant Secretary for Planning and Evaluation, as compared to Congressional Budget Office (CBO) projections for 2015 made in 2009, premiums will be more than $125 lower over the course of a year. Taken together, this means that total Medicare Part B and D premiums for seniors and people with disabilities in Florida are approximately $66.2 million lower than predicted for 2015.

 "Thanks to slower health care cost growth within Medicare since the passage of the Affordable Care Act, next year's Medicare Part B monthly premium will remain unchanged for the second consecutive year," said Secretary Burwell. "The Affordable Care Act is working to improve affordability and access to quality care for seniors and people with disabilities."

 "The stabilization of Part B premiums is another example of how we are containing health care costs to provide a more sustainable and affordable health delivery system. The Administration has taken important steps to improve the quality of care while keeping the cost of Medicare premiums and deductibles the same," said CMS Administrator Marilyn Tavenner. "This means even greater financial and health security for our seniors next year as their premiums will remain unchanged."

 Nationwide there are approximately 49 million Americans enrolled in Medicare Part B, which covers physicians' services, outpatient hospital services, certain home health services, durable medical equipment, and other items.

CMS also announced today that for the small number of beneficiaries who pay Medicare Part A monthly premiums, their monthly bill will drop $19 in 2015 to $407.  Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services.  The Affordable Care Act closes the Medicare Part D prescription drug coverage gap, knows as the "donut hole" over time. Beginning with the passage of the Affordable Care Act through June 2014, people with Medicare in Florida have saved $783,533,079 on prescription drugs as a result of the Affordable Care Act.  Nationwide, more than 8.3 million people with Medicare have saved over $12 billion on prescription drugs through July 2014, an average of $1,443 per beneficiary.