Cost Of Medicare Premiums 2012
October 20, 2011 by staff
The federal government announced Wednesday that older people receive Social Security at a cost of 3.6 per cent rise living in 2012, the first increase since 2009.
The beneficiary will receive average and 38 more a month for a total of 1,120 y.
But part of that extra income can be eaten up by higher Medicare premiums, the federal health insurance program for people over 65 years. The federal government will announce the 2012 premium for Medicare Part B (outpatient care) later this month. And is expected to be 106.60, which is 10 higher than what the majority of Medicare beneficiaries currently pay. (New recipients of Medicare and the high-income seniors already pay a higher premium.)
“I think people will be so happy to see an increase and 38 a month – that’s good news – but it is tempered by rising costs in health care and the premium for Part B,” said Michael Burgess, former commissioner for the State Office on Aging and a champion of high-level policy of the Superior Council of Action at the state level.
Above all, New York elderly take more of your prescription drug costs in 2012 drastically reduced because the State EPIC, a program of popular drug assistance for seniors of low and moderate income. EPIC was reduced by 30 percent and 322 million to 232 million and in 2011-2012.
“I keep saying it can not afford to live and can not afford to die,” said Mary Bryan, 71 years old, retired superintendent of Catholic schools, who lives in Albany. With EPIC, Bryan managed their health with several drugs that cost hundreds of dollars a month. Along with most Medicare beneficiaries, Bryan was busy trying to find the best plan for your needs, because the Medicare open enrollment began on October 15 and end on December 7.
She is not sure what will happen in 2012, but she knows that Social Security increase will not dent.
“That will be immediately absorbed by the cost of my prescription,” said Bryan. “It will improve the quality of my life.”
Historically, the New York EPIC subsidized deductibles and co-payments and pay the cost of drugs not covered by Medicare.
On January 1, 2012, EPIC will pay Medicare Part D (prescription drug) premiums in New York seniors who earn less than 23,000 and, although the drug assistance for all the world will be reduced. The program will only pay for drug costs when it is high in the “donut hole” gap in Medicare coverage for Medicare recipients have to pay prescription drug costs out of pocket.
“All these things will be even more difficult for people,” said Burgess.
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