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In 2013, the basic Medicare Part B premium will rise $5 to $104.90 a month. This monthly rate will be higher for seniors with modified income above $170,000 for married and $85,000 for singles. Modified income means regular income plus tax-exempt interest, education bonds, and excluded foreign earned income. Higher income seniors will also owe a surcharge on premiums for Medicare Part D. This surcharge ranges from $11.60 to $66.60 depending on how much those seniors modified income is above $170,000 for married and $85,000 for singles.

Marrieds filing separately will be hit especially hard if they lived together at any time during the year. Those with modified AGIs over $85,000 and up to $129,000 will pay $272.70 a month for Part B premiums and $48.30 a month for Part D Surcharges. If their modified income goes above $129,000, then the premium will rise to $335.70 a month while the surcharge will reach $66.60.

Posted in Your Financial House » Retirement and Exit Strategies » Rules and Regulations »

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