Here are some numbers that recently came out. For people paying Medicare out of their Social Security checks (and are not high income, and have not started benefits recently), the average Medicare Part B premium is going up from $109 in 2017 to $130 in 2018. Since there was a 2% COLA, someone getting $1500/month will get a $30 increase due to the COLA, but their Medicare Part B increase is $21 (130 - 109), leaving them with a net $9 increase. So most people will get very little from the COLA next year.
Base Part B Medicare in 2017 and 2108 is $134. Anyone paying less has been subsidized this past year. Now if they get a COLA they are going to have to pay more of their share of premiums. For some they will not see an increase in their monthly check. If not for Congress, they would have had their benefits reduced when the COLA was much less than the Medicare Premium increase.
@346 PM. In your example, a person getting a $30 raise that was only paying $109 would now be paying $134 so would only get a $5 raise.
Here are some numbers that recently came out. For people paying Medicare out of their Social Security checks (and are not high income, and have not started benefits recently), the average Medicare Part B premium is going up from $109 in 2017 to $130 in 2018. Since there was a 2% COLA, someone getting $1500/month will get a $30 increase due to the COLA, but their Medicare Part B increase is $21 (130 - 109), leaving them with a net $9 increase. So most people will get very little from the COLA next year.
ReplyDeleteBase Part B Medicare in 2017 and 2108 is $134. Anyone paying less has been subsidized this past year. Now if they get a COLA they are going to have to pay more of their share of premiums. For some they will not see an increase in their monthly check. If not for Congress, they would have had their benefits reduced when the COLA was much less than the Medicare Premium increase.
ReplyDelete@346 PM. In your example, a person getting a $30 raise that was only paying $109 would now be paying $134 so would only get a $5 raise.