2012 Medicare Part B Monthly Premiums By Income Levels And Tax Filing Status

2 comments

2012 Medicare Part B monthly premium rates that cover hospitals plus physician and outpatient expenses, are shown in the following table (by individual and joint filers) and reflect the 2012 COLA increase. The standard Medicare Part B monthly premium ($99.90) for existing beneficiaries reflects a $3.50 increase over the 2011 “harmless” premium of $96.40. New beneficiaries see the biggest saving in 2012 with a $15.50 decrease in the basic/standard premium from 2011 levels ($115.40). Social Security monthly payments in 2012 will also increase by 3.6%, which should be large enough on average to cover the increase in the Part B premium of $3.50 that most beneficiaries will experience.

Higher Income Earners: If a beneficiary’s “modified adjusted gross income” is greater than the legislated threshold amounts ($85,000 in 2012 for a beneficiary filing an individual income tax return or married and filing a separate return, and $170,000 for a beneficiary filing a joint tax return) the beneficiary is responsible for a larger portion of the estimated total cost of Part B benefit coverage. In addition to the standard Part B premium, affected beneficiaries must pay an income-related monthly adjustment amount.

2012 Medicare Part B Monthly Premiums

2012 Medicare Part B Monthly Premiums

Source : Medicare.gov

Bookmark and Share

Liked what you read? Then stay connected and get the latest articles via RSS, Email or Facebook

{ 1 comment… read it below or add one }

joanne niezen November 11, 2013 at 1:58 pm

My income went down for 2012 but the amount taken out of my social security check did not adjust. My accountant said it would be adjusted in 2013 sometime after tax deadline.
When is this due to be adjusted?

Reply

Leave a Comment


7 − 7 =

{ 1 trackback }

Previous post:

Next post:

Disclaimer: The information contained on Saving to Invest (this site) is for general information purposes only and does not constitute factual or professional financial advice. In accordance with FTC guidelines, we disclose that we may have a financial relationship with some of the merchants/companies mentioned on this website. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers. Refer to the Privacy Policy and Terms of Use for more information