Medicare Part B Premiums to Rise in 2013
How much will Medicare Part B premiums be in 2013?
Most people will pay $104.90 per month for Medicare Part B premiums, which is a $5 monthly increase from 2012’s premiums. But high earners will pay more, as they have since 2007. You’ll pay a high-income surcharge if your 2011 adjusted gross income (plus tax-exempt interest income) was more than $170,000 (for married people filing jointly) or more than $85,000 (for single filers). In that case, your total monthly premiums will range from $146.90 to $335.70, depending on your income.
High-income seniors will also pay extra for Medicare Part D prescription-drug coverage, with a monthly surcharge of $11.60 to $66.40 (depending on income) added to the insurer’s premium.
Here’s how the premiums break down by 2011 income:
|2011 ADJUSTED GROSS INCOME|
|$85,000 or less (single), $170,000 or less (joint)||$85,001 to $107,000 (single), $170,001 to $214,000 (joint)||$107,001 to $160,000 (single), $214,001 to $320,000 (joint)||$160,001 to $214,000 (single), $320,001 to $428,000 (joint)||More than $214,000 (single), more than $428,000 (joint)|
|2013 Medicare Part B monthly premium||$104.90||$146.90||$209.80||$272.70||$335.70|
|2013 Medicare Part D monthly premium||premium only||$11.60 surcharge||$29.90 surcharge||$48.10 surcharge||$66.40 surcharge|
Also, you have until December 7 to pick your Medicare Part D or Medicare Advantage plan during open enrollment for 2013. See Sift Through Your Medicare Choices and The Best Resource for Comparing Medicare Plans for more information.
Got a question? Ask Kim at firstname.lastname@example.org.