After holding steady at $104.90 a month for four years, the standard Medicare Part B premium that most recipients pay will ri...Read more
Medicare Beneficiaries Facing Another Double-Digit Premium Hike
- July 14th, 2006
The Bush administration projects that the premium for Medicare Part B, which covers doctors' services, will rise at least 11.2 percent to $98.40 a month, in 2007, and the increase may be slightly higher.
The administration attributed the double-digit hike to the fact that more people are turning 65, as well as to a rise "in the volume and intensity of physician and outpatient hospital services over the last several years."
Premiums are currently $88.50 a month following a 13.2 percent rise from the 2005 figure. The Medicare Part B premium increased by nearly $30 a month, or 51 percent, from 2003 to 2006.
The 2007 premium could go even higher if doctors succeed in blocking a 5.1 percent pay cut that is scheduled to take effect next year. But Congress is also considering a bill that would ease the burden on seniors by revising the formula for calculating premium increases. The actual Part B premium amount for 2007 will be set sometime in the fall.
"We're going on several years of repeated double-digit increases, and it's also roughly three times the rate of the Social Security (cost-of-living) increase," said Kirsten Sloan, chief health lobbyist for AARP. "It puts a real squeeze, particularly on moderate-income seniors."
For a Seattle Post-Intelligencer article on the premium increase, click on: http://seattlepi.nwsource.com/national/1152ap_medicare_premiums.html
Local Elder Law Attorneys in Ashburn, VA
Hale Ball Carlson Baumgartner Murphy PLC
Attorney Samantha Simmons Fredieu is an associate at Hale Ball. Ms. Fredieu graduated magna cum laude from Vermont Law School where she was the symposium editor on the Vermont Law Review, a production editor on the Vermont Journal of Environmental Law, and a member of the Moot Court Advisory Board. She has clerked for...
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...
Felinton Elder Law & Estate Planning Centers
Mindy Felinton concentrates in the areas of Medicaid planning, Veterans' Benefits, asset protection, nursing home planning, elder law, wills, estate planning, trusts, living wills, powers of attorney, probate administration and trust administration and began her legal career 30 years ago as an Assistant State Attorney...