Medicare just announced the 2011 rates for monthly premiums for Part B coverage of doctor’s visits and outpatient treatment and Part D coverage of prescription drugs. The big news for next year: For the first time, higher-income beneficiaries (about 5% of all Medicare recipients) will pay a Part D surcharge. They’ll pay the regular Part D premium to their private insurance plan and will pay the income-related adjustment to Medicare.
Also, new Medicare beneficiaries in 2011 will pay higher Part B premiums than current beneficiaries, who are protected against premium increases in years like this in which Social Security cost-of-living adjustments aren’t large enough. (See How to Avoid the Medicare High-Income Surcharge.)
Here’s what you’ll pay in monthly premiums in 2011, depending on your income level and year of enrollment:
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Individuals with modified adjusted gross income less than $85,000 and married couples filing jointly with less than $170,000
• Part B premium (first-time Medicare enrollees in 2011): $115.40 per month
• Part B premium (first-time enrollees in 2010): $110.50 per month
• Part B premium (enrolled in 2009 or before): $96.40 per month
• Part D surcharge: none
Individuals with modified adjusted gross income from $85,000 to $107,000 and married couples filing jointly with incomes from $170,000 to $214,000
• Part B premium: $161.50 per month
• Part D surcharge: $12 per month
Individuals with income from $107,000 to $160,000 and married couples filing jointly with income from $214,000 to $320,000
• Part B premium: $230.70 per month
• Part D surcharge: $31.10 per month
Individuals with income from $160,000 to $214,000 and married couples filing jointly with income from $320,000 to $428,000
• Part B premium: $299.90 per month
• Part D surcharge: $50.10 per month
Individuals with income of more than $214,000 and married couples filing jointly with income of more than $428,000
• Part B premium: $369.10 per month
• Part D surcharge: $69.10 per month
-
How to Invest as the AI Industry Grows UpHere’s where to find the winners as artificial intelligence transitions from an emerging technology to an adolescent one.
-
I’m 62 and worried about Social Security’s future. Should I take it early?A Social Security shortfall may be coming soon. We ask financial experts for guidance.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2025Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Is Amazon Prime Day? Everything We Know, Plus the Best Deals on Apple, Samsung and MoreAmazon Prime Amazon Prime Day is four days this year. Here are the key details you need to know, plus some of our favorite deals to shop during the sale.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
