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:
| 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 premium | premium 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.
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