A change in a participant’s Medicare premium payment from year to year depends on various factors, including: when participants joined Medicare; if participants do not currently have the Medicare Medical Insurance (Part B) premium withheld from their Social Security benefits; if there is not a Social Security cost-of-living adjustment (COLA); income level; and general premium increases.
Participants new to Social Security and Medicare will pay the standard 2013 Part B premium of $104.90 (because they did not have the premium withheld from their Social Security benefits in the previous year and it would not lower their benefit).
The standard Part B premium for 2013 is $104.90. For 2013, most people pay a Medicare Medical Insurance (Part B) premium of $99.90 per month if they had the premium deducted from their Social Security checks. The premium is higher for individuals with incomes above $85,000 per year and for married couples with incomes above $170,000 per year.
Beneficiaries filing an individual tax return pay a monthly premium of $146.90 if their income is $85,001-$107,000; $209.80 if their income is 107,001-160,000; $272.70 if their income is $160,001-$214,000; $335.70 if their income is above $214,000.
For beneficiaries filing jointly, the 2013 Part B monthly premium is $146.90 if their income is $170,001-$214,000; $209.80 if their income is $214,001-$320,000; $272.70 if their income is $320,001-$428,000; and $335.70 if their income is above $428,000.
Beneficiaries who are married but file separate tax returns pay $272.70 if their income is $85,001-$129,000; and $335.70 if their income is above $129,000.
Medicare premiums and coinsurance rates come out each fall and go into effect the following January.
How Are Medicare Premiums Calculated?
Does Medicare Cover All of Beneficiaries’ Medical Expenses After Age 65?
How Much Does Medicare Medical Insurance (Part B) Cost for Beneficiaries?