Most of your health insurance plan changes this year comes from the Patient Protection and Affordable Care Act, signed into law on March 23, 2010. It is important for seniors to know that there are increases to their monthly premiums to those who have higher incomes, as well as the fact that seniors on Medicare will now get free annual physicals and other preventive-care services for the first time. Let’s take a look at key figures that will help you determine your healthcare costs and plan accordingly in the future. Also, learn about health care reform’s free preventive services with the video below…
- The 2011 monthly premium will remain $96.40 for most existing beneficiaries or $110.50 if you are a new enrollee to the plan in 2010. For those enrolling in 2011, the premium will cost $115.40 per month.
One key change the new year brings is that for seniors who have higher incomes, will pay higher premiums. The premiums, based on the 2009 IRS tax return, are as follows:
- Individuals with incomes of $85,000 to $107,000 or married couples filing joint tax returns with incomes of $170,000 to $214,000, will pay $161.50 per month.
- Individuals earning $107,000 to $160,000, couples $214,000 to $320,000, will pay $230.70 monthly.
- Individuals with incomes of $160,000 to $214,000, couples $320,000 to $428,000, will pay $299.90 each month.
- Individuals over $214,000, or couples above $428,000, will pay $369.10 per month.
Credit source: Denise Reynolds RD (Emaxhealth.com) & CBSNews.com, 1/1/2011.