The Medicare Part B Premium for 2012 has been lowered. The new 2012 Part B Premium will be $99.90. Finally some positive change to help senior citizens! In 2011, the standard Medicare Part B premium was $115.40 per month. Although, individuals who started on Medicare earlier than 2011 might have been paying less. This change will save many senior citizens about $15.50 per month as compared with the 2011 Part B Premium Rates. Senior citizens who did happen to be paying less will now have to pay the new Part B Premium amount due to the fact that they have received a Cost of Living Adjustment in Social Security Benefits.
The Medicare Part B deductible is also scheduled to be lowered to $140 for 2012. This is $22 lower than the current Medicare Part B Deductible which is $162 for 2011. Senior citizens who have Medicare Supplement Plan G currently have to pay the Part B Deductible out-of-pocket, and with the lowered deductible, this will save many folks some money. Medicare Supplement Plan G is quickly becoming one of the most attractive Medicare Supplement Plans due it's reasonable cost and high coverage level.
Also in 2012, senior citizens will finally enjoy a cost of living adjustment (COLA) in social security benefits of 3.6%. This is the first increase senior's will receive since 2008 which was a 5.8% increase. As an interesting fact, the highest COLA increase was 14.3% in 1980 and the lowest COLA increase (besides the 0% during 08' - 11') was 1.3% in 1986 and also the same percentage in 1998.
If you are on Medicare, it is a good idea to get Medicare Supplement Quotes for the 2012 year. More than often, you will be able to find a Medicare Supplement Plan for $20 - $80 less per month for the exact same coverage. You can compare rates directly on our website visiting our compare plans & rates page.
Get Your Free Medicare Quote Comparison Today!