Tuesday, December 4, 2012

Medicare Part B Premium Changes for 2013


The new Medicare Part B premium amounts for 2013 have announced.  The base monthly premiums increase $5.00 from $99.90/month in 2012 to $104.90/month in 2013.

Some taxpayers have to pay higher premiums due to high AGI.  The amount varies based on the taxpayer’s income as shown on the income tax returns and their filing status.  The monthly Medicare premium (base + extra) amounts for 2013 based on 2011 income and filing status are:


SINGLE:

Premiums - - - - AGI of:
$104.90 - - - $85,000 or less
$146.90 - - - $85,001-$107,000
$209.80 - - - $107,001-$160,000
$272.70 - - - $160,001-$214,000
$335.70 - - - Above $214,000

MFJ (Married Filing Joint):

Premiums - - - - AGI of:
$104.90 - - - $170,000 or less
$146.90 - - - $170,001-$214,000
$209.80 - - - $214,001-$320,000
$272.70 - - - $320,001-$428,000
$335.70 - - - Above $428,000

The government web site doesn't mention the AGI levels for taxpayers who are filing MFS, but based on last year’s levels and the changes above, we have estimated the amounts to be as follows:

MFS (Married Filing Separate):

Premiums - - - - AGI of:
$104.90 - - - $85,000 or less
$272.70 - - - $85,001-$129,000
$335.70 - - - Above $129,000

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