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MONTHLY premiums on the medical insurance part of Medicare went up starting July 1.
The basic premium rate will go from $6.30 to $6.70 a month, according to Mrs. Hazel F. Crumpton, social security district manager in Winchester.
The medical insurance helps pay doctor bills and other medical expenses and is funded by individual premiums and Federal general revenues. The protection is offered automatically to people reaching 65 who are eligible for social security benefits—and to disabled people under 65 who have been entitled to social security disability benefits for 24 consecutive months or more.
“The Medicare law requires an annual review of the cost of the medical insurance program and adjustment of the monthly premium rate to cover the estimated medical expenses of Medicare patients,’’ Mrs. Crumpton said.
“The 40-cent increase in July is related to a rise in the cost of medical services and compares to a 50-cent increase in the medical insurance basic monthly premium rate in 1973,” she added.
MEDICARE hospital insurance premiums must also be increased starting July 1. “The basic premium rates will go from $33 to $36 a month,” she said.
Hospital insurance protection is extended auto
96.4%