Medicare premiums going up $5 a month for 2013

[The Straight Story]

Medicare premiums going up $5 a month for 2013

WASHINGTON (AP) — The government says Medicare premiums are going up $5 a month for 2013. That's less than expected, but it'll still eat up nearly one-fourth of the typical cost-of-living raise for retirees.

Medicare chief Marilyn Tavenner says the monthly premium for 2013 will be $104.90 a month.

Also known as the Part B premium, it covers outpatient care such as office visits and medical supplies. Taxpayers pay 75 percent of the cost for Part B benefits, and the monthly premium covers the remaining 25 percent.

High-income beneficiaries face bigger increases, from $42 to $230.80 a month. Most low-income beneficiaries have their premiums paid by Medicaid.

http://www.10tv.com/content/stories/apexchange/2012/11/16/us-medicare-premiums.html

[Politicalboi]

1. Still better than a voucher

Insurance companies should allow ANYONE to be a dependant on your employers insurance. That way gay couples could get insurance in a partnership, or one could put their parent on their insurance in place of Medicaid, or in place of another insurance like United Health. And if it is a parent, you should get a discount on your rates.

[RebelOne]

2. And here I was thrilled to be getting a COLA of about $20 in 2013.

Well, $15 is better than the nothing we SS recipients have been getting.

[DURHAM D]

3. Good.

Don't stop there. Do this also - every person on Medicare who has retirement income of over $50,000 ($100,000 for a couple) a year should pay $5 more than that or $109.90. Everyone who has retirement income of over $55,000 a year should pay another $6 more or $115.90. And everyone who has income of over $60,000 should pay another $7 or $122.90, and so on and so on. Base it on all income, not just earned wages.

Currently if you make more than $85,000 a year you pay more or $139.90. If you make more than $107,000 you pay $199.80, next break is $160,000 and you pay $259.70, etc. I am suggesting that the uptick start at a lower income level.

JFTR - I am a senior on Medicare and my suggestions would increase my monthly premium but I have a brain and a heart. I care about the next generation.

[Obamamite]

4. You're talkng about "make" and "income." Medicare recips are retired.

They don't "make" anything. Their "income" is investment income, since they don't work...totally controllable by themselves, and which varies wildly, depending on a number of factors.

What retirees mainly have is assets: house, savings account, retirement account.

[DURHAM D]

5. I had earned wages for 3 years after going on Medicare.

I know many many over 65 who still have earned wages. Also, I believe that your current year Medicare premium is based on a two year look back but can be adjusted (refunded) after the fact. But yes, I am suggesting that all income be considered. JFTR - I don't see how a house generates income and I am not suggesting premiums based on assets.

[Obamamite]

7. That's my point. The only somewhat constant financial thing in the life of a retiree...

(most Medicare recips are retirees) is assets. Investment income...they control it totally, and it varies wildly, depending on a lot of things.

My point being...basing anything on a retiree's "income" is pretty iffy, and probably unfair. Stock market income....stock market crashes, retiree has almost no income...is he still paying for Medicare based on the income for the prior year when he got a lot of income?

Unlike a worker, whose income is more stable than a retiree's, it's difficult to base anything on income. "Assets" is actually fairer, since it's more constant, predicable, and indicative of the financial position someone is in. (For instance, you may have more income because you haven't paid off your house yet, like your cousin Bernie, who draws a low income because he paid off his house years ago. Bernie is actually wealthier.)

[MrYikes]

6. lol

and you say this with such assurance.

Welcome to walmart, now git yur stuf n git out. This'll be my next job after I retire from this job I got when I retired from the other job I had.