Medicare Premiums Increase for 2017

The Centers for Medicare and Medicaid Services announced that monthly premiums for Medicare will be increasing next year. Seventy percent of Medicare beneficiaries are protected by the “hold harmless” provision, which says benefit checks cannot decrease due to Medicare increases. The provision was triggered by the small 0.3% cost of living increase to Social Security for 2017. If you are covered by the hold harmless provision and you are currently paying $104.90/month, your premium will increase to $109/month.