Sunday, October 11, 2015

Part B Medicare premiums will rise sharply, and not everyone shares the burden fairly

The New York Times warns Social Security recipients in an editorial “The Unlucky Millions Paying More for Medicare”) Sunday, October 11, 2015, p. 8, that new recipients are likely to pay much more for Part B premiums starting in 2016, link here. Medicare Part B premiums are normally deducted from Social Security checks or direct deposits. 
Social Security recipients will not get a cost-of-living increase in 2016.  (Some media sources report that falling gasoline and crude oil prices are the primary reason.)  Under current 1997 law, current recipients are “held harmless” for increased costs from Part B, so they are passed on to new benes.

The Part B Medicare deductible will increase from $147 in 2015 to $223 in 2016, and fall back to $169 in 2017. Make sense?

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