Next year, Medicare beneficiaries will not see their Part B premiums rise, according to a news release from CMS.
The standard Medicare Part B premium will be $104.90 per month in 2014, the same as this year. "We continue to work hard to keep Medicare beneficiaries' costs low by rewarding providers for producing better value for their patients and fighting fraud and abuse," CMS Administrator Marilyn Tavenner said in the release. "As a result, the Medicare Part B premium will not increase for 2014, which is good news for Medicare beneficiaries and for American taxpayers."
CMS said for beneficiaries who do not have at least 10 years of Medicare-covered employment, their Part A premiums will drop $15 next year to $426 per month.
The agency also announced the Medicare Part D prescription drug coverage gap, also known as the doughnut hole, continues to close and has saved Medicare beneficiaries about $8.3 billion on drug costs since the provision took effect in 2011. The doughnut hole will close completely in 2020.
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