CMS announces 2014 Medicare Part B premiums

CMS, The Centers for Medicare and Medicaid Services, announced yesterday that the standard Medicare Part B (Medical) premium will remain at $104.90 in 2014, the same as in 2013. The income-related monthly premium rates for Part B will also remain the same as they were in 2013.

You can read the full CMS press release on the CMS website at http://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-Releases/2013-Press-Releases-Items/2013-10-28.html.

From the press release:

“CMS said the standard Medicare Part B monthly premium will be $104.90 in 2014, the same as it was in 2013.  The premium has either been less than projected or remained the same, for the past three years.  The Medicare Part B deductible will also remain unchanged at $147.  The last five years have been among the slowest periods of average Part B premium growth in the program’s history.”  

“By law, the standard Part B premium represents roughly one-fourth of the average cost for beneficiaries aged 65 and over, plus a contingency margin to provide for possible variations between actual and projected costs.  Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and other items.”

 

 

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