Medicare Part B Premiums to Rise in 2013

Most people will pay more for this government health care plan for seniors.

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.

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Here’s how the premiums break down by 2011 income:

Swipe to scroll horizontally
Header Cell - Column 0 2011 ADJUSTED GROSS INCOME
Row 0 - Cell 0 $85,000 or less (single), $170,000 or less (joint)$85,001 to $107,000 (single), $170,001 to $214,000 (joint)$107,001 to $160,000 (single), $214,001 to $320,000 (joint)$160,001 to $214,000 (single), $320,001 to $428,000 (joint)More than $214,000 (single), more than $428,000 (joint)
2013 Medicare Part B monthly premium$104.90$146.90$209.80$272.70$335.70
2013 Medicare Part D monthly premiumpremium only$11.60 surcharge$29.90 surcharge$48.10 surcharge$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.

Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.