Bill to Prevent Medicare Premium Increment
Recently a bill was passed by the house, which would prevent the Medicare Part B premiums to get increased from this year. The legislation with 45 cosponsors passed the bill by a vote of 406 to 18 and provided a much needed relief to the seniors. Though, there is already a law, which bars the Medicare Part B premium to get increased more than the annual increment in Social Security payment. About 75 percent of the seniors are already reaping the benefits of this and are protected from Medicare Part B premium increment. It can be stated here that the Social Security payments are hiked with the Consumer Price Index, which is not expected to go up in 2010. However, according to the Medicare Trustees, it is quite possible to increase the premiums of Medicare Part B for about 25 percent of the Medicare recipients, without the congressional action, from a monthly $96.40 this year to $104.20 in 2010 and again $120.20 in 2011. This boost in payments is more than the usual rate, as the costs are dispersed over a small part of the recipients. According to the bill, the new Medicare enrollees as well as those existing high income recipients who have a modified adjusted gross income of over $85,000 ($170,000 for couples), need to pay higher premiums this year. The state and federally funded Medicaid will have to take in the major part of the Part B premiums for the low-income seniors, who are entitled to both the government programs. |
