07
Dec 2012
December 7, 2012
The Centers for Medicare and Medicaid Services has announced new Medicare premiums, deductibles, and co-insurances as follows:
- Part B premium: $104.90/month (was $99.90)
- Part B deductible: $147 (was $140)
- Part A deductible: $1,184 (was $1,156)
- Co-payment for hospital stay days 61-90: $296/day (was $289)
- Co-payment for hospital stay days 91 and beyond: $592/day (was $578)
- Skilled nursing facility co-payment, days 21-100: $148/day (was $144.50)
As directed by the 2003 Medicare law, higher-income beneficiaries pay higher Part B premiums. Following are those amounts for 2012:
- Individuals with annual incomes between $85,000 and $107,000 and married couples with annual incomes between $170,000 and $214,000 will pay a monthly premium of $146.90 (was $139.90).
- Individuals with annual incomes between $107,000 and $160,000 and married couples with annual incomes between $214,000 and $320,000 will pay a monthly premium of $209.80 (was $199.80).
- Individuals with annual incomes between $160,000 and $214,000 and married couples with annual incomes between $320,000 and $428,000 will pay a monthly premium of $272.70 (was $259.70).
- Individuals with annual incomes of $214,000 or more and married couples with annual incomes of $428,000 or more will pay a monthly premium of $335.70 (was $319.70).
Rates differ for beneficiaries who are married but file a separate tax return from their spouse.
The Social Security Administration uses the income reported two years ago to determine a Part B beneficiary’s premiums. For example, the income reported on a beneficiary’s 2011 tax return is used to determine whether the beneficiary must pay a higher monthly Part B premium in 2013.
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