Medicare premiums could rise for many retirees

December 20, 2012 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.

Explore further: Medicare prescription premiums unchanged for 2012

shares

Related Stories

Liberal group outlines $385B in Medicare cuts

November 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.

Study: Privatized Medicare would raise premiums

October 15, 2012

A study out Monday says most Medicare recipients—59 percent—would pay higher premiums under a hypothetical privatized system, with wide regional differences leading to big hikes in some states.

Recommended for you

'Diet' products can make you fat, study shows

April 25, 2017

High-fat foods are often the primary target when fighting obesity, but sugar-laden "diet" foods could be contributing to unwanted weight gain as well, according to a new study from the University of Georgia.

Exercise good for the spine

April 24, 2017

A world-first study has shown that specific physical activity benefits the discs in our spines and may help to prevent and manage spinal pain.

0 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.