I received the following information from a longtime friend and former colleague. His source was an administrator in the Blue Cross Health System. I did some double checking and made corrections based on previous and current medicare premiums.
Although this information is to the best of my knowledge, it may not be completely accurate. However, it reflects an over 250 percent increase from the 2010 to 2014 rate. The jump in the 2013 to 2014 rate alone is over 205 percent:
MEDICARE
For those of you who are on Medicare, read the following. It’s short, but important and you probably haven’t heard about it in the Mainstream News:
The per person Medicare Insurance Premium will increase from the 2010 Monthly Fee of $96.40, rising to:
$99.90 in 2012
$120.20 in 2013
And
$247.00 in 2014.
These are provisions incorporated in the Obamacare Legislation, purposely delayed so as not to confuse the 2012 Re-Election Campaigns. Seniors should know who’s throwing them under the bus.
It figures that the administration would stick it to seniors, a weak demographic for them. If you are like me, having paid into this Ponzi scheme, just like social security, over all the years, you will be outraged.
Cap’n Bob,
See Table V.C2.—SMI Cost-Sharing and Premium Amounts on page 218,
2011 Medicare trust fund report – https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/ReportsTrustFunds/downloads//tr2011.pdf
Projected premiums for out years are shown.
Thanks for the reference GDoyle. The document is from the 2011 report to congress. Unfortunately, the impacts of Obamacare are not included in the table referenced. Moreover, I know from my personal medicare premiums that the amounts shown are inaccurate.
Cap’n Bob,
The rates shown in the table are ‘standard rates’. These are modified by the hold harmless provisions of the medicare law, based on a number of factors. Most people paid a lower rate in 2010 and 2011 because there was no cost of living increases in those years. See http://www.elderlawanswers.com/Resources/Article.asp?ID=8746
Right – I forgot about no COLA for those years.
The Elder Law Write-up was helpful – thanks.
You’re welcome. I think I’ve received this alarmist email a half-dozen times or so over the last few months. Problem I have; it contains no source references so I can only assume the numbers were pulled from where the sun don’t shine. Hopefully SCOTUS will find obamacare unconstitutional and all this conjecture will go away.