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Medicare fees rise for 2013

By Jennie L. Phipps · Bankrate.com
Monday, November 19, 2012
Posted: 11 am ET

Medicare is raising its 2013 fees. Factor this into your retirement planning. Let's start with the easy stuff that doesn't affect many people living in retirement.

Medicare Part A. Very few people pay a Part A premium. As long as you worked for 40 quarters or 10 years or are married to someone who did, you're entitled to this coverage at no additional charge. Medicare Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care and some home health care. (Don't be confused. Part A doesn't cover nursing home care.) If you're part of the 1 percent required to pay, the 2013 Part A premium is decreasing to $441, down from $451 in 2012.

Medicare Part A deductible, which everybody is responsible for, is rising 2.4 percent to $1,184. You'll be charged this every time you're admitted to the hospital. Many people have a Medigap insurance policy or are enrolled in a Medicare Advantage insurance plan that pays this fee.

Medicare Part B premium, which is automatically deducted monthly from everyone's Social Security payments, is rising $5 per month from $99.90 to $104.90.  The Medicare Part B deductible will rise to $147 in 2013, from $140. Part B covers doctors' services, outpatient care, medical supplies and preventive services. Medigap and Medicare Advantage plans cover the Part B deductible.

If you have very low income, you may qualify through your state Medicaid program for help paying Part B premiums and the Part A deductible. There is also a Medicare-managed program known as Extra Help that will help you pay Part D prescription drug expenses. Whether you qualify for all or part of this assistance depends on your income.

If your 2011 income was above $85,000 a year ($170,000 filing jointly) you'll be charged more for Part B.  These premium adjustments range from $42 to $230.80 per month, depending on how much you make. If your income has changed since you paid your 2011 taxes, you can ask the government to recalculate.

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62 Comments
Benjamin
November 20, 2012 at 10:22 am

I don't think that this is too much. I am greatful for the insurance. Without it I could not pay for any good medical care. I worked all my life at low paying jobs and have no other funds to fall back on. A lot of people are in for a shock when they retire. It's not a cake walk.

J
November 20, 2012 at 10:14 am

WoW,

Fooled again!

mary floyd
November 20, 2012 at 10:13 am

i voted to go forward. premium should not go higher. we need to eat a good diet to be healthy. i do not get food stamps.
make it on what i have worked for.i am a single senior 69 yrs old. PLEASE GET SOME OF THESE YOUNG FOLKS OF THE SYSTEM AND PUT THEM TO WORK. LIKE PRESIDENT CLINTON DID. THAT THE PROBLEM NOT OLD SENIOR WHO HAVE WORKED ALL THEIR LIFE. I AM A CITIZEN. BORNED IN US.ITS MORE YOUNG FOLKS AT DSHS THAN OLD SENIORS.PLEASE HELP. NO THIS IS NOT A DUPLICATE.

mary floyd
November 20, 2012 at 10:12 am

i voted to go forward. premium should not go higher. we need to eat a good diet to be healthy. i do not get food stamps.
make it on what i have worked for.i am a single senior 69 yrs old. PLEASE GET SOME OF THESE YOUNG FOLKS OF THE SYSTEM AND PUT THEM TO WORK. LIKE PRESIDENT CLINTON DID. THAT THE PROBLEM NOT OLD SENIOR WHO HAVE WORKED ALL THEIR LIFE. I AM A CITIZEN. BORNED IN US.ITS MORE YOUNG FOLKS AT DSHS THAN OLD SENIORS.PLEASE HELP.

artist
November 20, 2012 at 10:09 am

Do you think Romney was not going to do anything?

.......

Hilarious response. Is that your defense of this disaster?

Kilo
November 20, 2012 at 10:01 am

Medicare Part B: "which is automatically deducted monthly from everyone's Social Security payments"

------ Only if you're enrolled in it. Many feds chose not to enroll in Part B as they still carry their FEHB into retirement.

RED
November 20, 2012 at 10:01 am

NO VOUCHERS (THANKS OBAMA)

Nicole
November 20, 2012 at 9:39 am

Do you think Romney was not going to do anything?

Mark
November 20, 2012 at 9:29 am

Thank you Mr. Obama

garynga
November 20, 2012 at 7:47 am

It gets worse in 2014....so all who voted for the 'move forward' ideas hope you are liking the rape of our retirement funds....