Medicare Premiums to Increase in 2008
March 1, 2007
Author: Catherine M. Callery (Kate)| Louise M. Tarantino
Medicare Part B - available to those over 65 or who have been eligible for Social Security Disability Insurance (SSDI) benefits for twenty-four months - currently costs beneficiaries $93.50 per month. If that seems steep, just wait until next year, when Medicare Part B premiums in 2008 could increase by 17%, or $15.90, to $109.40 monthly. Individuals with annual incomes that exceed $80,000 and married couples with annual incomes that exceed $160,000 pay higher premiums. Medicare Part B premiums have increased by 60% over the past five years, compared with 14% for Social Security COLA.
Just when do disabled claimants get the privilege of paying these premiums? Coverage begins the 25th month after the date of entitlement/onset. See POMS HI 00801.146 Entitlement to HI for the Disabled https://s044a90.ssa.gov/apps10/poms.nsf/lnx/0600801146!opendocument. Therefore, some claimants can become eligible for Medicare Part B as soon as they start receiving their monthly checks, as long as more than twenty-four months have passed since the established onset of disability.
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