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Re: Bad News: Medicare Part B Premium Same as Last Year

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Well my medicare premium went up to $134 and leaves me with only a $1 increase; not enough for even a starbucks reg. coffee! I called them since AARP's article said it wouldn't cut your S.S. Well since it didn't cut it less than last years monthly amount and I get a dollar more that doesn't cut my S.S. 

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Re: Bad News: Medicare Part B Premium Same as Last Year

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@MelissaKay wrote:

They just released information on the 2018 IMRAA Part B increases. Now some higher income seniors are going to be impacted next year.Smiley Sad2018 IMRAA Part B increases.png

 

 

 


We have known about this increase since the "doc fix" legislation passed in the spring of 2015, but thanks for the joyful reminder.

 

This is not the end either - wait til the changes hit in 2020.

 

Fiscal Times 03/30/2105 - What You'll Pay for the Medicare 'Doc Fix'

 

The GOP also wants to pay for or partially pay for the Reauthorization of the CHIP program by charging seniors whose income is at $500,000 per year a 100% premium for Part B but the Democrats seem to be resisting this effort - why I do not know - seems their motto is to always tax the rich - so it must just be that they resist just because it is a GOP idea but compromise is still in the works.

* * * * * * * * *
MY SIGNATURE: "It’s Always something" - Roseanne Rosannadanna
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Re: Bad News: Medicare Part B Premium Same as Last Year

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Message 3 of 7

They just released information on the 2018 IMRAA Part B increases. Now some higher income seniors are going to be impacted next year.Smiley Sad2018 IMRAA Part B increases.png

 

 

 

Melissa Kay
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Re: Bad News: Medicare Part B Premium Same as Last Year

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byrondennis

I believe this CMS release explains the 2011/2012 premium dilemma -

 

CMS: News Release 10/27/2011 - Medicare Premiums and Deductibles for 2012

 

 The Medicare Cost at a Glance page says some people depending on their income might just pay $ 130 for Part B premium in 2018 - then others depending upon income will be paying $134 for Part B premiums in 2018 - course if you are a higher income senior this does not include you. Woman Frustrated

 

Yep, right - nothing we can do - it is what it is.

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MY SIGNATURE: "It’s Always something" - Roseanne Rosannadanna
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Re: Bad News: Medicare Part B Premium Same as Last Year

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@GailL1 wrote:

byrondennis,

 

The reason why it is going up on all of those who were previously protected by the hold harmless clause is because the COLA for 2018 ( 2% ) is high enough to cover the total increase in the Part B program cost.  I believe I remember the time period when the Part B premium did go down but that was because the cost of the Part B program went down not because of any COLA adjustment.

 


I don't think so but we'll find out for sure next year. The absolute cost of the Part B program never went down according to the Medicare Trustees report (see Table III.C.4, page 87) so my only back-of-the-envelope explanation of why the premium didn't go down this year the way it did in 2012 is that there still are not enough people NOT "held harmless" to lower the rate to a point where everyone in Part B pays exactly the same premium (except for the rich and the poor of course). A small portion of the explanation is that we are all now paying $3 a month to pay back the loan that Congress authorized to protect rich people and Federal retirees from a bigger raise two years ago.

 

Whatever, I'm sure you'll agree that there is nothing we can do about it!

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Re: Bad News: Medicare Part B Premium Same as Last Year

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byrondennis,

 

The reason why it is going up on all of those who were previously protected by the hold harmless clause is because the COLA for 2018 ( 2% ) is high enough to cover the total increase in the Part B program cost.  

 

I believe I remember the time period when the Part B premium did go down but that was because the cost of the Part B program went down not because of any COLA adjustment.

 

If the current COLA had not been this much ( 2% ) for 2018,  perhaps more like last year's puny .3%, then the premium for Part B would have been set for those already enrolled in the program and have their premiums deducted from their Social Security check (the hold harmless beneficiaries) based on an amount that would NOT make their benefit check go into negative territory.  But those entering the system in 2018 and those who do not have their Part B premiums deducted from their SS check are not protected by hold harmless and thus they are assessed the actual calculated premium.

 

The way I am reading this is that the vast majority of Part B beneficiaries will be paying this premium of $134.00 per month.  There maybe a few paying less because of their benefit amount X 2% would calculate out to a lesser amount and thus these few would still be protected by hold harmless.

 

We do need to get this Part B under control in medical cost because as the economy gets better our COLAs hopefully will get larger but only to be taken away in Part B premiums as it seems to have for 2018.

 

 

* * * * * * * * *
MY SIGNATURE: "It’s Always something" - Roseanne Rosannadanna
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Bad News: Medicare Part B Premium Same as Last Year

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Message 7 of 7

We'll need to wait for someone who did well in math to come onto this board and comment on this but it turns out  -- as predicted in the 2017 Medicare Trustees Report -- the Medicare Part B premium stays the same at $134 a month. And that's bad news.

 

The last time we came to the end one of these "hold harmless" periods -- 2010 to 2012 -- when the hold harmless period ended, the premium went down from $116 to $99 (or $96, I don't remember exactly). So the fact that the premium did not come down this time means -- best I can tell:

  • About half of us (see Note) are going to see our premium jump from $109 on the average to exactly $134--a whopping 23% increase. That's going to take almost all of our 2% Social Security increase away from us, but maybe leave enough for a Starbucks 'grande' (that's the small one, right?) once a month
  • The other half of us are going to be "held harmless" for another year because our 2% raise won't even cover the $134 premium. The good news in that is that those of us in this group might only pay $118 or a $124 or a $129 a month for Part B instead of $134 (but up from $109 on average).  But that also means your entire Social Security raise goes right across the swamp to the Medicare Trust fund. No 'grande' for you.

Maybe next year it will go down the way it did in 2012.

 

NOTE: When I say "us," I mean those of us who have been on both Social Security and Medicare since 2016 or before. This is actually good news for those on Medicare Part B who do not collect Social Security. Your premium stays the same. And the premium for people who joined Medicare in 2017 also will see no increase.

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