There is some good news and some bad news when it comes to Medicare costs in 2011. Seniors will be happy to know that since there was no cost-of-living adjustment for Social Security benefits for 2011, there will also be no upward adjustment of the Medicare Part B premium that is deducted from the benefit. For most people that means the Part B premium stays at $96.40 or $110.50 per month (depending on when you signed up.)
The premium increases to $115.40 per month for those who sign up for Part B in 2011 and those whose premium is paid by Medicaid.
Seniors with high income (above $85,000 if single and $170,000 if married) will continue to pay more than $96.40. Click here for a table of income levels and associated premiums.
There is one new surprise for next year. High-income earners (same income thresholds as above) will also owe a new surcharge on their Part D premiums, ranging from $12 to $69.10 per month as income increases.
In addition the Medicare Part A deductible is going up from $1100 to about $1132 per month.
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