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|Subject: Higher Medicare premiums for Top 25%||Date: 4/13/2013 5:13 AM|
|Author: intercst||Number: 71977 of 73985|
What's the 75th percentile of income for the age 65+ population? The current higher Medicare premiums (starting at incomes of $85,000/yr.) only affect the Top 5% of retirees (95th percentile).
More importantly, due to the creeping effects of inflation, 20 million Medicare beneficiaries would end up paying higher “income related” premiums for their outpatient and prescription coverage over time.
Administration officials say Obama’s proposal will help improve the financial stability of Medicare by reducing taxpayer subsidies for retirees who can afford to pay a bigger share of costs. Congressional Republicans agree with the president on this one, making it highly likely the idea will become law if there’s a budget deal this year.
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