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Upper Income Seniors’ Medicare Hike
TIME Online Edition

President Barack Obama’s new plan to raise Medicare premiums for upper-income seniors would create five new income brackets to squeeze more revenue for the government from the top tiers of retirees.

The administration revealed details of the plan Friday after Health and Human Services Secretary Kathleen Sebelius testified before the Congress on the president’s budget. The details had not been provided when the budget was released earlier in the week.