The Part B monthly premium is $96.40 in 2008, an increase of $2.90, or 3.1 percent, from the $93.50 Part B premium for 2007. The 2008 amount is the smallest percentage increase in the Part B premium since 2000.
The Medicare Part B premium amounts for 2008 are determined by the Department of Health and Human Services (HHS). The premiums paid by beneficiaries enrolled in Medicare Part B cover physician services, outpatient hospital services, certain home health services, durable medical equipment and other items.
Most beneficiaries will continue to pay the standard premium. Beginning in 2007, a small number of beneficiaries with higher incomes (individuals with income exceeding $80,000 and married couples with income exceeding $160,000) began paying a higher Part B premium based on their income. For 2008, this amount was increased to $82,000 for an individual or $164,000 for a married couple. For information on the increase for other income levels, see "Medicare Part B Monthly Premiums in 2008", a FAQ on the Medicare website.
For more information, see Social Security's publication, Medicare Part B Premiums: New Rules For Beneficiaries With Higher Incomes, call us toll-free at 1-800-772-1213 (TTY 1-800-325-0778) or visit your local Social Security office.
More information about Medicare can be found at www.medicare.gov.