Long-Term Care

Next year to bring 3.1% Medicare premium increase

Contemporary Long-Term Care Weekly, October 4, 2007

In 2008, Medicare beneficiaries can expect to see their Medicare premium increase to $96.40 a month, according to an announcement made by the Bush administration on October 1, reported The New York Times. The 3.1% increase would be an additional $2.90 a month over the course of the year for the majority of the 43 million Medicare beneficiaries. But, about 5% of those with an annual income higher than $82,000 for individuals or $164,000 for couples will pay a higher monthly premium. This is based on a sliding scale. In 2008, the annual deductible for Medicare Part B will increase from $131 to $135. While the annual deductible for Medicare Part A will increase from $992 to $1,024 next year, reported The Houston Chronicle.

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