Saturday, 13 April 2013 08:04
Medicare premiums to rise for more seniors
WASHINGTON (AP) — Feeling pretty comfortable in retirement?
Here's something to think about: President Barack Obama's budget would raise Medicare premiums for individual retirees making more than $85,000 and couples making more than $170,000.
It would also freeze the indexing for inflation of those income thresholds, so eventually 1 in 4 retirees will have to pay more. Right now only about 1 in 20 pays the higher rate.
The higher premiums surprised a retired city worker from Albuquerque, Sheila Pugach.
She says she's paying about $500 a year more in premiums for Medicare outpatient and drug coverage, all because required withdrawals from her retirement savings bumped her into a higher income bracket.
Republicans like Obama's idea, so Pugach could soon have more company.
Published in
National News
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