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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
Are They Taking My Cost Of Living Increase For Medicare?
IF WE ARE GETTING A 2% INCREASE, WHY IS OUR PAYMENT THE SAME AS LAST YEAR? ARE THEY TAKING THE INCREASE FOR MEDICARE?
Hi,
Obviously, I don't have enough facts about your case to give you a definitive answer. However, if you've been paying a reduced Part B Medicare premium based on the 'hold harmless' provision, then it may very well be that your cost of living increase will be applied to your Part B premiums when the standard premium rate increases in January. For an explanation, you may want to read the following article: https://www.pbs.org/newshour/economy/social-security-boost-no-boon-lower-earners.
Best, Jerry
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Posted:
December 4, 2017