Don’t you just love it? That’s real “change,” given the “hope” promised.
- If Social Security benefits are increased, everybody will pay more for Part B, bumping the monthly premium from $104.90 to $120.70 (15%) to cover higher expenses.
- If Social Security benefits are not raised, Medicare fees will rise from $104.90 to 159.30/month (or ~52%) for ~30% of Medicare beneficiaries:
⇨ people who don’t have their premiums deducted from
Social Security payments;
⇨ individuals with annual incomes above $85,000; and,
⇨ people eligible for both Medicare and Medicaid (“dual
eligible whose Part B premiums are paid by the state
where they live).
The changes to rates will be announced in October and take effect Janunary 1, 2016.
Let the discussion begin...
To read the Kiplinger article, click on the following link: