ST. CROIX — According to a press release issued by the Office of the Lieutenant Governor, because of slow growth in medical costs and inflation, Medicare Part B (medical insurance) premiums were unchanged for 2013, 2014, and 2015 calendar years. This trend continued in 2016, and as a result, there will be no Social Security cost of living increase in 2016, as made known by the Social Security Administration.<\/p>\n
As a result, by law, most people with Medicare Part B will be \u201cheld harmless\u201d from any increase in premiums in 2016 and will pay the same monthly premium as last year, which is $104.90, according to the release.<\/p>\n
Beneficiaries not subject to the \u201chold harmless\u201d provision will pay $121.80, as calculated reflecting the provisions of the Bipartisan Budget Act signed into law by President Obama in November, 2015. Medicare Part B beneficiaries not subject to the \u201chold harmless\u201d provision are those not collecting Social Security benefits; those who will enroll in Part B for the first time in 2016; dual eligible beneficiaries who have their premiums paid by Medicaid; and beneficiaries who pay an additional income-related premium.<\/p>\n
The annual deductible for all Part B beneficiaries will be $166 in 2016.<\/p>\n
Medicare Part A covers inpatient hospital, skilled nursing facility, and some health care services. About 99 percent of Medicare beneficiaries do not pay a Part A premium because they have at least 40 quarters of Medicare-covered employment.<\/p>\n
For more detailed information on Medicare, contact the State Health Insurance Assistance Program (VI SHIP), at 340-772-7368 or 340-714-4354 or visit www.medicare.gov.<\/p>\n","protected":false},"excerpt":{"rendered":"
ST. CROIX — According to a press release issued by the Office of the Lieutenant Governor, because of slow growth in medical costs and inflation, Medicare Part B (medical insurance) premiums were unchanged for 2013, 2014, and 2015 calendar years. This trend continued in 2016, and as a result, there will be no Social Security […]<\/p>\n","protected":false},"author":3,"featured_media":33521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12,191,147],"tags":[4048,4298,121],"yoast_head":"\n