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Bad News for Retirees: No Social Security Cost-of-Living Increase, Higher Medical Costs for Many
The Washington Post; subscription may be required Oct. 16, 2015 "Most Americans have their outpatient care premiums for Medicare Part B deducted directly from their Social Security checks, and the annual cost-of-living increase usually covers any increase to premiums. When it doesn't, a longstanding 'hold harmless' law protects about 70 percent of seniors from having their Social Security payments reduced. But that leaves about 30 percent of Americans on Medicare to cover a hike to premiums that otherwise would be spread across everyone. That group includes people new to Medicare, federal retirees who don't receive Social Security payments and about 3.1 million people with higher incomes, that is, those making more than $85,000." |
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