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Valued Social Butterfly
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Re: Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 41 of 46

rker321 wrote:

Gail your post indicates to me, that I should not complain about what happens to Medicare and how is done and how it may or not affect me. and that I should be grateful that I have medicare and to quit my complaining.
Yes, you are correct. I don't have options. not any more. and that is hard to swallow.
My life at this age in becoming increasingly more complicated and sad.
I feel that I have worked, saved, all my life for now to be concerned as to what this final stage of my life is going to end.
I really never expected that. this has been a surprise for me.

I am lucky that I don't suffer from clinical depression, because the future seems to be quite depressing.
I can see that you don't see anything wrong with our Health care system. I am very glad for you. 
But, I sincerely wish that I had your optimism as to the future of seniors in this country.


I guess I don't understand what you are complaining about -

I think Medicare (CMS / HHS ) does its best to try and hold down healthcare cost with out making rules to make the system stricter or not cover some things. Seniors do use a lot of it and Part B coverage is a big part of it, perhaps the most.

 

If it makes you feel any better check out what the higher income folks will be paying next year in their Part B premiums.  It's in the link I posted in the original post to this thread.

 

Exactly what are you complaining about?

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Valued Social Butterfly
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Re: Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 42 of 46

Gail your post indicates to me, that I should not complain about what happens to Medicare and how is done and how it may or not affect me. and that I should be grateful that I have medicare and to quit my complaining.
Yes, you are correct. I don't have options. not any more. and that is hard to swallow.
My life at this age in becoming increasingly more complicated and sad.
I feel that I have worked, saved, all my life for now to be concerned as to what this final stage of my life is going to end.
I really never expected that. this has been a surprise for me.

I am lucky that I don't suffer from clinical depression, because the future seems to be quite depressing.
I can see that you don't see anything wrong with our Health care system. I am very glad for you. 
But, I sincerely wish that I had your optimism as to the future of seniors in this country.

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Valued Social Butterfly
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Re: Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 43 of 46

rker321

 

The way premiums are set for Part B is part of the Social Security law and it has been this way for as long as I can remember.

 

The link in my original post has a section on how Part B premiums are assigned.

Part B medical cost for seniors is paid for by 25% premiums and 75% out of the general fund.  Part B Medicare covers only medication covered by Part B - it does not cover the drugs covered by Part D.  It covers medicines given in doctor offices, medicines which a beneficiaries might get in a hospital or clinic or even some medication treatments given in a beneficiaries home.

 

You can look up on the Medicare website all the various coverages under Part B.

 

Many seniors needs lots of Part B coverage and the more they use, the higher all of our premiums go.  However within the Social Security law there is a provision called " the hold harmless clause" - simply put, this clause prevents the loss of any dollars in the Social Security benefit to a person -so it restricts how much can be taken out for added premiums until such time that there is an ample COLA - many beneficiaries have been just in this situation in the last few years as the economy continued to recover.  

 

Higher Part B premiums are already being paid by those who are newly enrolled in the last few years.  

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Re: Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 44 of 46

God Bless American and the love that is shown by so many for all of us seniors.
Great!!!!!  more money in the pockets of the ones that need it the least.
It doesn't ,matter any longer that seniors are the ones that have become the punching ball for politicians when they need the money to pass a budget.
And yet, it is us seniors that actually account for the most class of Americans that actually vote and put these individuals in Government.
I guess we all  love to be abused by others.
Why continue to complain when, complaining doesn't seem to work?
Why not understands that the time has come to really take action ? Not only on how we all vote, but how accountable we really make our politicians.?
Those are the questions that all of us seniors really need to answer.
No, we cannot continue to live in a country that is really killing us slowly.  with insurances that are not sufficient. with drug prices that we cannot afford. with doctors that apparently  love to make lots of money, and to the whole Industry that should be ashamed to exist.
But, we come here, complain and simply take it. 
It is useless, we won't win. and things will get even worse.


 

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Re: Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 45 of 46

I just read about this last night. I didn't realize there was an expected 2.2% increase in Social Security. From the past, I knew it wasn't going to be a good thing. The small increase last year only raised the Medicare premium from 104 to 109. Since I have just signed up for Social Security, I was aware of the fact that my full premium would be 134 if I was 65 so I knew that my husband's premium would jump to that if his increase will cover that.

 

Another negative about this is the fact that there is a Do no harm clause and if there is no cost of living increase, the Medicare premium will not increase. We need to keep in mind that if there are two of us and our adjusted gross income is between 32000 and 44000, it just means that we have to pay income tax on 50% of that extra Social Security. We're blessed and our AGI is over forty four thousand so that means we have to pay income tax on 85% of our social security.

 

So in summary, the increase will all go toward a higher Medicare premium and we'll have a few more dollars to pay in taxes.

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Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bind

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Message 46 of 46

IN OTHER WORDS, WHEN YOU HEAR THE AMOUNT OF THAT COLA - DON'T GET TOO EXCITED - PART B PREMIUMS WILL GOBBLE IT UP !

 

Millions of seniors will soon be notified that Medicare premiums for physicians’ services are rising and likely to consume most of the cost-of-living adjustment they’ll receive next year from Social Security.

 

Higher 2018 premiums for Medicare Part B will hit older adults who’ve been shielded from significant cost increases for several years, including large numbers of low-income individuals who struggle to make ends meet.

 

“In effect, this means that increases in Social Security benefits will be minimal, for a third year, for many people, putting them in a bind,” said Mary Johnson, Social Security and Medicare policy consultant at the Senior Citizens League. In a new study, her organization estimates that seniors have lost one-third of their buying power since 2000 as Social Security cost-of-living adjustments have flattened and health care and housing costs have soared.

 

Another, much smaller group of high-income older adults will also face higher Medicare Part B premiums next year because of changes enacted in 2015 federal legislation.

 

. . . . Social Security is due to announce cost-of-living adjustments for 2018 in mid-October. Based on the best information available, it appears to be considering an adjustment of about 2.2 percent, according to Juliette Cubanski, associate director of the program on Medicare policy at the Kaiser Family Foundation. (Kaiser Health News is another, independent program of the Kaiser Family Foundation.)

 

Apply a 2.2 percent adjustment to the average $1,360 monthly check received by Social Security recipients and they’d get an extra $29.92 in monthly payments.

 

For their part, the board of trustees of Medicare have indicated that Part B monthly premiums are likely to remain stable at about $134 a month next year.  (Actual premium amounts should be disclosed by the Centers for Medicare & Medicaid Services within the next four to six weeks.)

Medicare has the right to impose that charge, so long as the amount that seniors receive from Social Security isn’t reduced in the process. So, the program is expected to ask older adults who paid $109 this year to pay $134 for Part B coverage next year — an increase of $25 a month.

Subtract that extra $25 charge for Part B premiums from seniors’ average $29.92 monthly Social Security increase and all that be left would be an extra $4.92 each month for expenses such as food, housing, medication and transportation.

 

“Many seniors are going to be disappointed,” said Lisa Swirsky, a policy adviser at the National Committee to Preserve Social Security and Medicare.

 

~ read it ALL at the following link ~

KHN 10/05/2017 - Despite Boost In Social Security, Rising Medicare Part B Costs Leave Seniors In Bin...

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