Tuesday, October 27, 2015
Seniors spared big premium increase in Medicare by budget deal, which also extends debt ceiling
Vox has more details on the budget deal, which is said to avoid a possible crisis on the debt ceiling as early as Nov. 3, as well as relieve some seniors with possibly astronomical increases in their Medicare Part B premiums, story by Sarah Kliff, here.
Seniors will get a “loan” from the Medicare general fund and have to pay it back with slightly greater premium increases over the next few years.
The problem comes about because this year there is no COLA increase in Social Security, and current recipients are “held harmless” by laws. The lack of COLA comes in part from lower gas prices, which doesn’t help seniors who don’t drive.