The U.S. Department of Health and Human Services has released the new medicare premium, deductibles and co-pay charges for 2011. You can read the November 4 release in its entirety right here. If you'd like a more readable summary of the changes for 2011, take a look at ElderlawAnswers. They've published a very good summary of all the changes taking place in 2011 and they provide an explanation as to why some increases apply to some people and not others.
For example, the basic premium for Medicare Part B will be $115.40. This is a 4.4% increase from the 2010 premium of $110.50. However, the ElderlawAnswers article states that most Social Security recipients (approximately 73%) will continue to pay Part B premiums of $96.40 per month. That's because the Medicare law prohibits any increase in Part B premiums in excess of the Social Security cost of living increases. Since there is no cost of living increase in benefits for 2011, there is no increase in the Part B premium.
However, ElderlawAnswers also explains that certain individuals will pay the new Medicare Part B premium (i.e., the approximately 27% of Social Security recipients) because they:
- don't have Part B premiums withheld from their Social Security checks;
- pay a higher Part B premium because of their high income level; or,
- are newly enrolled in Part B.
Article Source: https://livingtrustnetwork.com
