Medicare Beneficiairy Costs Rise Slowly, But Will Ours?

The Medicare premiums and deductible rates for 2012 were released yesterday, and, amazingly enough, some rates are actually going down while others are rising by just 2% to 3% from last year’s rates. The standard monthly premium amount for Medicare Part B—the program that covers physician and other outpatient services—will be around $100. And then add on premiums for Part D, prescription drug, coverage (an additional $38 or so, depending on the plan), and for Medicare supplemental coverage (better known as Medigap). Maybe the Medigap premiums will drop, too, in response to the more generous standard Medicare coverage afforded by the Affordable Care Act.

Gee, I can’t remember the last time in my recent memory that the price of any essentials dropped. Can you? Well, I was pleasantly surprised recently to find that my local Trader Joe’s had lowered by ten cents the price of their half gallons of milk—and their price is still lower than the price at other nearby retail options. I don’t know yet how much my premiums will rise in 2012 for my employer-provided private health insurance, but I bet it will be at a much higher rate than 3%.