Medicare premiums to jump next year / Increase of at least 12.4% is sign of future crisis as Boomers retire

Posted by Larry on March 26th, 2005 filed in Rant

Medicare premiums for seniors are on course to rise 12.4 percent next year, on top of a 17 percent increase this year, said Richard Foster, chief actuary for the giant health care program for the elderly, at a Medicare and Social Security forum Friday.

The premiums are likely to go even higher, Foster said, because the estimate assumes that doctor payments will be cut 5 percent. Congress “almost certainly” will reverse those cuts as it has in the past, sending premium increases probably to 14 or 15 percent, he said.

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