How Much You'll PayFor Medicare in 2011
Some beneficiaries will face higher costs each month for coverage in the New Year.
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
-
Use An iPhone? You May Be Hearing From A Class-Action Lawsuit Group
A handful of suits against the iPhone maker seek to crack down on everything from app store purchases to messaging.
By Keerthi Vedantam Published
-
Capital One/Discover: What's In Their Wallet For You?
Push back on Capital One's planned merger with Discover is growing with one group of consumer advocates calling for a public hearing.
By Keerthi Vedantam Published
-
403(b) Contribution Limits for 2024
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Published
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Published
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel Procrastinator? No matter. You can pull off a fun and memorable getaway on a moment's notice — without breaking the bank.
By Vaishali Varu Last updated
-
How Much Life Insurance Do You Need?
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life-insurance needs.
By Kimberly Lankford Published
-
When Is Amazon Prime Day?
Amazon Prime In 2023 Amazon had two Prime Day events — one in July and another, called Big Deal Days, in October. We expect 2024 to follow the same schedule.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
5 Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Rates are high this year, but you can still find an affordable loan.
By Daniel Bortz Published