Medicare premiums could rise for many retirees

by Ricardo Alonso-Zaldivar

(AP)—Higher Medicare premiums are probably in store for many seniors if there's a budget deal between President Barack Obama and Republicans in Congress.

Both sides agree on expanding a current, little-known law so more retirees considered well-off by the government are required to pay higher premiums for outpatient and . That would raise $20 billion or more over 10 years.

But it could come as a shock to many seniors who consider themselves solidly middle-class, and by no means wealthy.

Right now about 5 percent of pay higher premiums. That number could grow to 25 percent if the change goes through.

The higher premiums kick in for individuals making more than $85,000 and couples earning above $170,000.

0 shares

Related Stories

Premiums jump 14 percent on Medicare private plans

date Feb 19, 2010

(AP) -- Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year - another sign that spiraling costs are a problem even for those with ...

Liberal group outlines $385B in Medicare cuts

date Nov 14, 2012

(AP)—A think tank allied with the White House is releasing a plan for Medicare cuts—hoping to stave off even bigger health care reductions in upcoming budget talks with Congress.

Recommended for you

The controversial stop-smoking drug Champix is safe

date 8 minutes ago

The controversial smoking cessation drug Champix has been linked to suicidal side-effects but, according to a leading Adelaide respiratory researcher, Champix is safe and can improve someone's chances of kicking the habit.

Clinical trial reduces stress of cancer caregivers

date 17 hours ago

Stem cell transplant is essential in the care of many blood cancers, but leaves patients requiring in-home care for months after. Frequently the role of caregiver falls to family or other committed members ...

Video: Debunking three common food myths

date 17 hours ago

You might have heard that microwaving your food is dangerous. Maybe your health nut friend told you that eating frozen veggies is less healthful than eating fresh ones. Is a glass of red wine really good ...

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.