Q:

How do you find the Medicare premium taken from Social Security payments in 2007?

A:

Quick Answer

The Medicare premium taken from Social Security payments in 2007 is available on an archived document stored in the database of the Social Security Administration, reports the SSA. The year 2007 is the first year monthly premiums for some beneficiaries were raised after reaching certain income thresholds.

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Full Answer

To locate the document with a table of 2007 monthly Medicare premiums, go to the main page of the Social Security website, and type Annual Statistical Supplement 2006 Medicare Program into the search engine, according to the SSA. Scroll down to the 2007 Medicare Part B monthly premium table under Program Financing.

The monthly premium for Part B coverage paid by Medicare recipients with annual incomes of $80,000 or less was $93.50, states the SSA. For those with incomes between $80,000 and $100,000, the premium was $105.80. Those with incomes between $100,000 and $150,000 paid $124.40, and those with incomes between $150,000 and $200,000 paid $142.90. All those with incomes over $200,000 paid $161.40.

The Medicare Part D prescription drug plan base monthly premium was $27.35, although a number of factors caused this amount to vary, reports the SSA. For most people Medicare Part A was free, but for those having less than 30 quarters of work coverage, the Part A monthly premium was $410, and for those with 30 to 39 quarters of coverage, the Part A premium was $226.

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