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Medicare Premiums Just Announced for 2013

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.

If you are looking to enroll in a Medicare plan, give us a call today at 1-877-614-2333.  A licensed Medicare expert will assist you in selecting a Medicare plan that best fits your financial and health care needs!

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