Medicare Part B PremiumWhat you pay in 2012 for Medicare Part B premiums.Medicare Part B: (Medical Insurance) PremiumIn 2012, the standard Medicare Part B premium is $99.90. That is a decrease of $15.50 over the 2011 premium which was $115.40. However, as you will note below, based on your income, you may pay more. As stipulated in the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, as of 2007, the Part B premium a beneficiary pays each month is based on his/hers “modified adjusted gross income”. Beneficiaries who file an individual tax return with the following modified adjusted gross income pays:• $85,000 or less = $99.90/mo. • $85,001-$107,000 = $139.90/mo. • $107,001-$160,000 = $199.80/mo. • $160,001-$214,000 = $259.70/mo. • Above $214,000 = $319.70 Beneficiaries who file a joint tax return with the following modified adjusted gross income pays:• $170,000 or less = $99.90/mo. • $170,001-$214,000= $139.90/mo. • $214,001-$320,000 = $199.80/mo. • $320,001-$428,000 = $259.70/mo. • Above $428,000 = $319.70 Beneficiaries who are married, but file a separate tax return from their spouse and lived with his or her spouse at some time during the taxable year with the following modified adjusted gross income pays:• $85,000 or less = $99.90/mo. • $85,001-$129,000 = $259.70/mo. • Above $129,000 = $319.70 About 4 percent of current Part B enrollees are expected to be subject to these higher premium amounts. Meanwhile, you are getting a 3.6 raise in your Social Security monthly payments. For example, if you were enrolled in 2011 and your monthly check from Social Security was $1,100, in 2012, you should be receiving around $1,139 each month.
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