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October 29, 2017
Category:
Am I Correct About The Hold Harmless Provision?
I am currently receiving spousal social security benefits, but will change to my benefits in November after reaching the age 70. The social security benefit letter says that my part B premium will go from $105 to $134 per month. I thought I would be protected by the held harmless provision due to the fact that I was already receiving benefits from my wife's account. Am I correct?
Hi,
No. If your benefit rate increases by enough to cover the extra premium amount, you'll go back to paying the standard Part B rate. You are generally protected by the hold harmless provision for an entire calendar year, though, so my understanding is that your Part B premium rate would not increase until January.
Best, Jerry