Although the 2013 Medicare premium and deductible increases announced on Friday are smaller than what was originally predicted, the increase in premiums is coming at a time when additional Medicare cost-cutting or smaller Social Security cost of living adjustments are possible.
According to the Centers for Medicare and Medicaid Services (CMS) report, the Part A deductible for hospital coverage — which is the amount a person must pay for a hospital admission before Medicare kicks in — will rise 2.4% to $1,184 from $1,156
The Part B Annual Deductible for Medicare eligible physician services, outpatient hospital services, certain home health services and durable medical equipment will rise $7 to $147.
High income seniors, who already pay additional surcharges on top of the standard premium will see additional hikes ranging from $42 to $230 per month. Most low-income beneficiaries will have their premiums paid by Medicaid.
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