The new Medicare premiums, deductibles, and coinsurances.

The Centers for Medicare and Medicaid has announced the new
Medicare premiums, deductibles, and coinsurances. The standard Medicare Part B
premium is increasing by $5 to $104.90 a month, smaller than the $9 per month
increase predicted earlier in the year.

Social Security recipients will receive a 1.7 percent
increase in payments in 2013. Most people have their Medicare premiums deducted
from their Social Security benefits. The smaller-than-expected hike means that
most Medicare recipients will still receive a modest boost in Social Security
benefits. 

Here are all the new Medicare figures:

  • Part B
    premium: $104.90/month (was $99.90)
  • Part B
    deductible: $147 (was $140)
  • Part A
    deductible: $1,184 (was $1,156)
  • Co-payment
    for hospital stay days 61-90: $296/day (was $289)
  • Co-payment
    for hospital stay days 91 and beyond: $592/day (was $578)
  • Skilled
    nursing facility co-payment, days 21-100: $148/day (was $144.50)

As directed by the 2003 Medicare law, higher-income
beneficiaries will pay higher Part B premiums. Following are those amounts for
2012:

  • Individuals
    with annual incomes between $85,000 and $107,000 and married couples with
    annual incomes between $170,000 and $214,000 will pay a monthly premium of
    $146.90 (was $139.90).
  • Individuals
    with annual incomes between $107,000 and $160,000 and married couples with
    annual incomes between $214,000 and $320,000 will pay a monthly premium of
    $209.80 (was $199.80).
  • Individuals
    with annual incomes between $160,000 and $214,000 and married couples with
    annual incomes between $320,000 and $428,000 will pay a monthly premium of
    $272.70 (was $259.70).
  • Individuals
    with annual incomes of $214,000 or more and married couples with annual
    incomes of $428,000 or more will pay a monthly premium of $335.70 (was
    $319.70).

Rates differ for beneficiaries who are married but file a
separate tax return from their spouse:

  • Those
    with incomes between $85,000 and $129,000 will pay a monthly premium of
    $272.70 (was $259.70).
  • Those
    with incomes greater than $129,000 will pay a monthly premium of $335.70
    (was $319.70).

The Social Security Administration uses the income reported
two years ago to determine a Part B beneficiary's premiums. So the income
reported on a beneficiary's 2011 tax return is used to determine whether the
beneficiary must pay a higher monthly Part B premium in 2013. Income is
calculated by taking a beneficiary's adjusted gross income and adding back in
some normally excluded income, such as tax-exempt interest, U.S. savings bond
interest used to pay tuition, and certain income from foreign sources. This is
called modified adjusted gross income (MAGI). If a beneficiary's MAGI decreased
significantly in the past two years, she may request that information from more
recent years be used to calculate the premium.

Those who enroll in Medicare Advantage plans may have
different cost-sharing arrangements. On average Medicare Advantage premiums are
expected to rise $1.47 per month in 2013. 

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