Last week, we made a post about the Medicare Part B Premium changing. This week we’d like to go further in depth about these changes and talk about how they affect Medicare beneficiaries.
Let’s break it down into the different parts of Medicare:
Medicare Part A
What changed: Medicare Part A Premiums will increase $1 per month and Medicare Part A deductible will increase by $24.
Who will it affect: Only 1% of Medicare Beneficiaries pay a Medicare Part A premium. The Medicare Part A deductible increase will be paid by any Medicare beneficiary requiring hospitalization, unless they have a Medicare Supplement Insurance Plan that covers those charges. The Medicare Part A deductible is fully covered under Medigap Plans B, C, F, G, and N.
Medicare Part B Premium
What changed: The 2011 Medicare Part B premium was $115.40, so the 2012 $99.90 premium price would be a $15.50 decrease. Monthly social security payments to enrollees will increase by 3.6%.
The Medicare Part B 2012 deductible will be $22 lower at $140. This deductible is covered under Medigap Plan F and Medigap Plan C.
Who will it affect: Seniors enrolled in Medicare Part B during 2011 paid a monthly premium of $115.40 for physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and other items and receive more from their monthly benefit social security check. Most beneficiaries, however, were exempt from this price and paid $96.40, the new price for them was a $3.50 increase. This increase is offset by the increase in their social security benefit check.
The amount you pay for Medicare Part B will also depend on your annual income. These adjustments are called income-related Medicare Part B premiums. For example, if you and your spouse make a combined total of $190,000 per year, your total Medicare Part B premium will cost you 199.80 per month. See the following table to see where you fall.
Medicare Part B income adjusted premiums:
To get more information about Medicare Supplement Insurance plans, talk to one of our Medigap plan representatives today or use our instant quote below.
Medicare Premiums and Deductibles for 2012 © MedicareMall.com