January 14, 2016
The 2016 Medicare costs are now published on the Medicare.gov website. In 2016, the standard Part B premium amount will be $121.80 (or higher depending on the person’s income). However, most people who get Social Security benefits will continue to pay a Part B premium of $104.90 each month. Individuals will pay a different premium amount in 2016 if:
- They enroll in Part B for the first time in 2016.
- They don’t get Social Security benefits.
- They have Medicare and Medicaid, and Medicaid pays the premiums.
- Their modified adjusted gross income as reported on the IRS tax return from 2 years ago is above a certain amount.
For details, refer to the chart entitled “Medicare Costs at a Glance”, found online here: