Most people age 65 or older don’t have to pay a monthly premium for Medicare Part A because they, or their spouse, paid Medicare taxes while they worked 40 or more quarters of Medicare covered employment. There is, however, a Part B premium charge. Most people pay the standard premium of $104.90 each month in 2013. Read the following for costs of Part A and B premiums for people either working less than 40 quarters, or with an adjusted gross income above a certain amount.
Medicare Part A Premium (2013)
- Individuals working 30-39 quarters of Medicare covered employment will pay $243.00 per month
- Individuals working less than 30 quarters of Medicare covered employment will pay $441.00 per month.
Medicare Part B Premium (2013)
The monthly premium you pay for Part B depends on your reported adjusted gross income as it was reported to IRS two years ago, i.e. in 2011 for the 2013 premium.
Part B premiums by income (see http://www.medicare.gov)
|If your yearly income in 2011 was||You pay (in 2013)|
|File individual tax return||File joint tax return|
|$85,000 or less||$170,000 or less||$104.90|
|above $85,000 up to $107,000||above $170,000 up to $214,000||$146.90|
|above $107,000 up to $160,000||above $214,000 up to $320,000||$209.80|
|above $160,000 up to $214,000||above $320,000 up to $428,000||$272.70|
|above $214,000||above $428,000||$335.70|
Please give us your feedback!
What do you think about Medicare Part A and Part B Premiums in 2013? Write your comments.
For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.