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New Rates and Limits for 2004
(Posted January 2, 2004)
Question 356: I know the Medicare Part B Premium and the earnings limitations change every year. Can you publish the new ones for 2004?
Answer: The Medicare part B Premium goes from $58.70 a month in 2003 to $66.60 a month in 2004.
The new earnings limitations for 2004 are:
$11,640 for those under the full retirement age.*
$31,080 for the year that the full retirement age* is attained. It only applies for the months before full retirement age is attained.
There is no earnings limit for months after full retirement age* is attained.
*"Full retirement age" is the month of turning age 65, for those born before 1938. For those born in 1938, full retirement age is 65 and 2 months; for those born in 1939, full retirement age is 65 and 4 months.
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