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Medicare Premiums


When enrolling in the federal Medicare, there are Medicare premiums that the participating Medicare enrollee is responsible on a monthly basis. A premium is the amount paid or payable, often in installments (monthly), for an insurance (Medicare) policy. Medicare premiums will have a lot of change that will take effect on 2012.







Part A: (Hospital Insurance) Medicare Premiums

Most people do not pay monthly Part A Medicare premiums because they or a spouse has 40 or more quarters of Medicare-covered employment. Part A Medicare premiums is $248.00 per month for people having 30-39 quarters of Medicare-covered employment. Part A Medicare premiums is $451.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.




Part B: (Medical Insurance) Medicare Premiums

The standard Medicare Part B monthly premium will be $99.90 in 2012, a $15.50 decrease over the 2011 premium of $115.40.  Though, most Medicare beneficiaries in 2011 paid $96.40 per month. The 2012 premium represents a $3.50 increase for them.




As required in the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, beginning in 2007 the Part B Medicare premiums beneficiary pays each month is based on his or her annual income.  In particular, if a beneficiary’s modified adjusted gross income is greater than the legislated threshold amounts, the beneficiary is responsible for a larger portion of the estimated total cost of Part B benefit coverage.




In addition to the standard Part B premium, affected beneficiaries must pay an income-related monthly adjustment amount.  These income-related amounts were phased-in over three years, beginning in 2007.  About 4 percent of current Part B enrollees are expected to be subject to these higher Medicare premiums amount.

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