Social Security recipients may grumble about not receiving a cost-of-living adjustment for the second year in a row, but at least most of them won't see an increase in their monthly Medicare premium. The first wave of baby-boomers, who turn 65 in 2011, aren't so lucky.
The newest group of Medicare enrollees will pay $115.40 per month for Part B, which covers visits to doctors' offices and outpatient services. The majority of beneficiaries who enrolled before 2010 will continue paying $96.40 for Part B. Most recipients who enrolled in 2010 were charged $110.50 per month and will continue paying that amount.
But higher-income beneficiaries, regardless of when they enrolled, will pay a steep surcharge in 2011. Individuals with modified adjusted gross incomes of $85,000 or more and couples with joint incomes of $170,000 or more will pay at least $161.50 a month for Medicare Part B -- and they could pay as much as $369.10 per month. Only about 5% of beneficiaries are affected.
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.
And for the first time, higher-income beneficiaries will pay more for prescription-drug coverage, too. Their surcharge will range from $12 to $69.10 per month in 2011 on top of the regular Part D premium.
-
Stock Market Today: Stocks Slip Ahead of Big Earnings, Inflation WeekPerhaps uncertainty about tariffs, inflation, interest rates and economic growth can only be answered with earnings.
-
Ask the Editor — Tax Questions on "The One Big Beautiful Bill Act"Ask the Editor In this week's Ask the Editor Q&A, we answer tax questions from readers on the new tax law.
-
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.
