2013 Medicare Premium Goes Up $5

On November 16, the Department of Health and Human Services (HHS) announced that the Medicare Part B premium will go up $5 for 2013; the new amount will be $104.90.  This amount is about 1/4 of the average retiree’s SS COLA (Cost of Living) increase.

The announcement was published in the Federal Register.  Medicare Part B covers doctors, outpatient hospital treatment, durable medical equipment and some home health services.  The deductible for Part B services will go up $7, to $147.  Medicare premiums for Part A (covering inpatient care) will drop to $441 for 2013.