Whose Medicare Premiums Will Increase
After reading the NY Times article which warns that many Medicare health insurance beneficiaries will pay more than $100 for their Part B monthly premium in 2010, I went over to the HHS.gov site to review just whose Medicare premiums will increase 15% (from $96.40 to $110.50).
According to the HHS.gov site most Medicare beneficiaries should continue to pay the same $96.40 Part B premium amount in 2010. This group will include those beneficiaries who are currently on Social Security and have their Part B premium withheld from their SSI monthly checks and have incomes of $85,000 or less (or up to $170,000 for joint filers). If you are in this group, you will not pay increased premiums in 2010.
Standard Medicare Part B monthly premiums will increase to $110.50 in 2010 for anyone in the following groups:
* New Part B beneficiaries will pay $110.50 (because they did not have the premium withheld from their Social Security benefit in the previous year).
* Beneficiaries who do not currently have the Part B premium withheld from their Social Security benefit will pay $110.50.
* Higher-income beneficiaries pay $110.50 plus an additional amount, based on the income-related monthly adjustment amount (IRMAA).
High-income beneficiaries are defined as those with incomes above $85,000 (or $170,000 for joint filers). Depending on where you fall in the income brackets above $85,000, you may be required to pay as little as $154.70 ($85,000 to $107,000 if single) up to $353.60 (income above $214,000).
Medicare Out-of-Pocket Expenses