Medicare Part B Premiums to Rise in 2013

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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 income:

2011 Individual Income: $85,000 or less
2011 Married Filing Jointly Income: $170,000 or less
2013 Medicare Part B monthly premium: $104.90
2013 Medicare Part D monthly premium: premium only

2011 Individual Income: $85,001 to $107,000
2011 Married Filing Jointly Income: $170,001 to $214,000
2013 Medicare Part B Monthly Premium: $146.90
2013 Medicare Part D Monthly Premium: $11.60 surcharge

2011 Individual Income: $107,001 to $160,000
2011 Married Filing Jointly Income: $214,001 to $320,000
2013 Medicare Part B monthly premium: $209.80
2013 Medicare Part D monthly premium: $29.90 surcharge

2011 Individual Income: $160,001 to $214,000
2011 Married Filing Jointly Income: $320,001 to $428,000
2013 Medicare Part B monthly premium: $272.70
2013 Medicare Part D monthly premium: $48.10 surcharge

2011 Individual Income: Above $214,000
2011 Married Filing Jointly Income: Above $428,000
2013 Medicare Part B monthly premium: $335.70
2013 Medicare Part D monthly premium: $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.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , Insurance

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