Monthly Medicare premiums for most beneficiaries will rise next year by $3.50, to $99.90, a much smaller increase than had been expected, the Obama administration said Thursday. Most Medicare beneficiaries have premiums withheld from their monthly Social Security benefits. In most cases, the cost-of-living adjustment in Social Security, averaging $43 a month for retired workers in 2012, will more than offset the increase in premiums, officials said. High-income people pay higher premiums, based on a sliding scale.
The annual deductible for Part B of Medicare, the amount that beneficiaries pay for services before Medicare starts to pay, will be $140 next year, down $22 from this year. The deductible for Part A of Medicare, which covers inpatient hospital care, will rise by $24, to $1,156 next year.
For more information on the changes occurring in 2012, please visit: U.S Department of Health & Human Services.