After paying into Social Security for a working lifetime -- and paying the specific Medicare" tax as well as income tax -- Social Security and Medicare recipients keep on paying! What follows is a case study of the way this so-called "welfare system" system "works" for this writer.
No monthly/annual premium is paid for the Medicare Part A (Hospital Benefit) but there is a Part A deductible of $1,132 per year for 2012, an increase of $24. This is paid for out of the Social Security recipient's Social Security check, from other retirement or IRA/401K plans, or from dwindling, drained or non-existent assets . [NOTE: This item is difficult to display in a list like this because of its numerous variables. For instance, if one has a Medicare Supplemental Policy (Medi-Gap) then the deductible is paid for. If not, then the deductible is not paid for. Plus Medicare patients can also have primary insurance from retirement and/or employee-related plan which makes Medicare secondary. So many variations. But for purposes of this article, I list it here and include it in the running and cumulative totals.]
Running total for 2012: $1,132.
The monthly/ annual premium recipients pay in 2012 for the Medicare Part B (Doctors/Medical Expense Coverage) is $99.90 a month/$1,198.80 annually.
Running total for 2012: $ $2,330.80
The Part B deductible is $140.00 per year.
Running total for 2012: $2,470.80
The premium for Part D Prescription Drug coverage is $85.40 per month/$1024.80 annually (and varies from plan to plan).
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