Seniors face steep increase in Medicare premiums

WASHINGTON, D.C. (ABC36 NEWS NOW) – Senior citizens across the U.S. are preparing for significant increases in their health insurance premiums next year. Medicare Part B premiums are set to rise nearly 10 percent — the largest jump in four years.

In raw dollar amounts, it marks the second-largest premium increase in the history of the Medicare program.

According to the Centers for Medicare & Medicaid Services, the standard monthly premium will increase to $202.90, which is nearly $18 more per month than this year’s rate.

Medicare Part B covers services such as doctor visits, outpatient hospital care, medical equipment, and certain prescription drugs. The program supports approximately 69 million Americans, including seniors and people with disabilities.