NEWSMAX: President Barack Obama’s proposed 2014 budget would raise $50 billion over 10 years by increasing monthly premiums for wealthier Medicare recipients and tweaking the sliding scale on which the premiums are calculated, according to details released on Friday by the agency that runs Medicare and Medicaid.
Currently, individual Medicare beneficiaries who make more than $85,000, but less than $107,000 pay a 35 percent premium for their outpatient and prescription drug benefits over the standard monthly Medicare rate.
According to the Centers for Medicare and Medicaid Services, that percentage would rise to 50 percent for individuals making more than $107,000, but not more than $160,000, and rise to 65 percent for people making more than $160,000, but not more than $214,000. For people making more than $214,000 the premium increase is 80 percent… (more)
