Is Medicare free?
For most people Medicare Part A has no premium, however for most people Medicare Part B does have a premium. The Medicare Part B premium is based on your income. What a lot of people do not like is that it is not based on your current income, the Medicare Part B Premium is typically based on your income from 2 years prior.
Below is a chart illustrating what your Medicare Part B Premium is going to cost you for 2013.
Part B premiums by income
|If your yearly income in 2011 was||You pay (in 2013)|
|File individual tax return||File joint tax return|
|$85,000 or less||$170,000 or less||$104.90|
|above $85,000 up to $107,000||above $170,000 up to $214,000||$146.90|
|above $107,000 up to $160,000||above $214,000 up to $320,000||$209.80|
|above $160,000 up to $214,000||above $320,000 up to $428,000||$272.70|
|above $214,000||above $428,000||$335.70|
Source for chart: www.medicare.gov
Robert Bache aka MedicareBob™
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Robert Bache aka MedicareBob™ owns and operates Senior Healthcare Direct. Senior Healthcare Direct is a National Telephonic Insurance Agency that represents over 26 Medicare Insurance Companies in 40 States. It is our job to help you understand Medicare and your all of your Medicare insurance options.
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