The increase in income beneficiary pays a higher Medicare premium
A big change is just around the corner for some beneficiaries of Medicare-the federal health insurance.
Some beneficiaries must pay a monthly premium much higher next year because they have what the government described as “higher incomes.”
What is it? That is the question asked a man, Providence Money Line:
Q: Please tell us about the disease premium growth on the basis of beneficiaries of income you next year. Please note also cite the law, if we could.
– A.F., Providence
A: Medicare covers most of the elderly and 65 and the disabled.
They speak of a certain portion of the Medicare program - called Medicare Part B - using the rule of the costs of visits to the Doctor’s Office, laboratory tests, the less important procedures, hospital outpatient services and physician-administered drugs.
The government pays most costs, beneficiaries pay a portion, including a monthly premium.
The premium is typically deducted from a recipient of social security monthly.
This year, the standard monthly premium is $ 88.50 for a month. Next year it is $ 93.50.
However, 2003 is a federal law, Part B premium increases for “enrollees higher incomes, from the year 2007.
It is the “Medicare Prescription Drug Improvement and Modernization Act of 2003″ (the same right that the Medicare Part D prescription drug based on savings accounts and health).
According to this law, receiving Medicare, whose evolution of adjusted gross income (AGI) on $ 80,000, and couples whose evolution AGI $ 160000, must pay an amount greater than the monthly premium default, starting in January.
(Your AGI is a character on the front of the Confederation of income tax return. The government of this number with some adaptations. By the way, I can not find a provision in the law that indexes dollar values threshold for inflation).
In approving the increase during the year 2003, Congress said it was “target taxpayer dollars needed for the most part by reducing the state subsidy for those who can afford , To learn more about their own costs.
In other words, if you have more, you have to pay more.
The increase was part B premium have been gradually over a period of five years.
However, a federal law earlier this year, needs to be increased gradually over a period of three years.
It is the “Deficit Reduction Act” (in which a hodgepodge of provisions, such as an increase in the Federal Deposit Insurance coverage for the pensions of Auditors).
In fact, it is: According to estimates by the Confederation Centers for Medicare & Medicaid Services, about 4 percent of all Medicare beneficiaries pay more than the standard monthly premium for their Medicare Part B report during the next year.
The disease Rights Center, a non-profit group in New York, estimated that 1.6 million Medicare beneficiaries pay more than the standard Part B premium because of their income.
For them, the monthly premium next year will be rich approximately $ 106 to $ 162, compared with $ 93.50 for most other beneficiaries.
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