Medicare Part B Premiums Won't Go Up in 2014

The premiums for Medicare Part B will remain flat in 2014 and seniors have saved $8.3 billion on Part D prescriptions since the Affordable Care Act was enacted in 2010, the Department of Health and Human Services announced Monday.

Medicare Part B covers medically necessary services, as well as preventive services.

Premiums for Medicare Part B will stay at $104.90 a month for 2014, the same as in 2013, according to the Center for Medicare Services. Premiums have either decreased or stayed the same for the past three years. The deductible will also remain at $147.

"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," said CMS Administrator Marilyn Tavenner in a statement. "As a result, the Medicare Part B premium will not increase for 2014, which is good news for Medicare beneficiaries and for American taxpayers."

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Source: USA Today