Most Medicare beneficiaries will continue to pay the same $96.40 Part B premium amount in 2010. Beneficiaries who currently have the Social Security Administration (SSA) withhold their Part B premium and have incomes of $85,000 or less (or $170,000 or less for joint filers) will not have an increase in their Part B premium for 2010.

For all others, the standard Medicare Part B monthly premium will be $110.50 in 2010, which is a 15% increase over the 2009 premium. The Medicare Part B premium is increasing in 2010 due to possible increases in Part B costs. If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher than $110.50 per month.

In other words in 2010:

Beneficiaries who currently have the part B premium withheld from their Social Security benefit will pay $96.40.

New Part B beneficiaries will pay $110.50 (because they did not have the premium withheld from their Social Security benefit in the previous year).

Beneficiaries who do not currently have the Part B premium withheld from their Social Security benefit will pay $110.50.

Higher-income beneficiaries pay $110.50 plus an additional amount, based on the income-related monthly adjustment amount (IRMAA).

This entry was posted on Friday, August 27th, 2010 at 3:24 pm and is filed under Medicare/Medicaid Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.