WASHINGTON (AP) - Higher Medicare premiums are probably in store for many seniors if there's a budget deal between President Barack Obama and Republicans in Congress.
Both sides agree on expanding a current, little-known law so more retirees considered well-off by the government are required to pay higher premiums for outpatient and prescription coverage. That would raise $20 billion or more over 10 years.
But it could come as a shock to many seniors who consider themselves solidly middle-class, and by no means wealthy.
Right now about 5 percent of Medicare beneficiaries pay higher premiums. That number could grow to 25 percent if the change goes through.
The higher premiums kick in for individuals making more than $85,000 and couples earning above $170,000.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.