Good News! Medicare’s monthly premium will be lower than expected next year. The basic premium for Medicare Part B will be $99.90 a month, only a $3.50 increase over the $96.40 a month that most beneficiaries have been paying since 2008.
Here are the new Medicare figures for 2012:
- Basic Part B premium: $99.90/month
- Part B deductible: $140 (was $162)
- Part A deductible: $1,156 (was $1,132)
- Co-payment for hospital stay days 61-90: $289/day (was $283)
- Co-payment for hospital stay days 91 and beyond: $578/day (was $566)
- Skilled nursing facility co-payment, days 21-100: $144.50/day (was $141.50)
Higher-income beneficiaries will pay higher Part B premiums.
- 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 $139.90 (was $161.50).
- 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 $199.80 (was $230.70).
- 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 $259.70 (was $299.90).
- 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 $319.70 (was $369.10).
The Social Security Administration uses the income reported two years ago to determine a Part B beneficiary’s premiums. So the income reported on a beneficiary’s 2010 tax return is used to determine whether the beneficiary must pay a higher monthly Part B premium in 2012. If you had significant changes in income in the last two years you can request a review of your premium.