CMS Announces New Medicare Part B Premiums for 2012
Each year, the Centers for Medicare and Medicaid Services (CMS) establish the annual basic Medicare Part B premium rate for the following calendar year. For 2012, CMS announced there will be a single basic Medicare Part B premium rate of $99.90 per month. This basic rate will applyto all Retirees enrolled in Medicare, even if their 2011 Medicare Part B basic rate was higher.
The Los Angeles Administrative Code requires that all Retired Members, upon turning age 65, enroll in all parts of Medicare for which they are eligible. Retired Members must provide proof of enrollment to LACERS in order to receive a LACERS medical plan premium subsidy.
For Retired Members to be reimbursed for their basic Medicare Part B premium, they must be enrolled in:
|.||Medicare Parts A and B and a LACERS medical plan; or|
|.||Medicare Parts A and B and the Medical Premium Reimbursement Program.|
The Retired Member pays any income-related monthly adjustment amounts or penalties. Surviving Spouses/Domestic Partners are not eligible for reimbursement of their basic Medicare Part B premium.
Your Medicare Part B reimbursement for 2012 will be automatically adjusted by LACERS and will be reflected in your monthly retirement allowance beginning in January.
For more information on the 2012 Medicare Part B premium rates, please visit the Medicare website at http://questions.medicare.gov.