Medicare Part B premiums devouring many retirees’ Social Security increase, survey shows

May 25th, 2018
Medicare Part B premiums devouring many retirees’ Social Security increase, survey shows

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  • A quarter of older Americans say that after their Medicare Part B premium is deducted from their Social Security check, they're left with no more than they had last year.
  • Another 18 percent say they've seen a boost of less than $5 a month.
  • This is coming after several years of many Social Security recipients paying less than the standard premium amount due to being protected by the so-called "hold harmless" provision.

For many of the 47 million older Americans on Social Security, getting a 2 percent cost-of-living increase in their 2018 benefits has been a bust.

More than 40 percent of the over-65 crowd say they have watched the extra amount get completely or mostly eaten up by the cost of Medicare Part B premiums, according to a recent survey by the Senior Citizens League.

Specifically, 25 percent say that after the deduction for the premium, their check is unchanged. Another 18 percent say the increase has been less than $5....(See Link above)

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