Is there anyone else here who is getting less Soc. Sec. retirement benefit due to higher Medicare Part B premium?

  • by Flower
  • Jan 06,2018
  • 10 answers

Is there anyone else here who is getting less Soc. Sec. retirement benefit due to higher Medicare Part B premium?


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Insurance Answers (10)

federico 6 months ago

hgfdfd

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curtisports2 6 months ago

No. The 'hold harmless' provision in the law prevents the Social Security monthly benefit from being reduced by increases in Part B premiums. Medicare has increased each of the last few years but Social Security recipients with total income under $85,000 did not pay the full increase because the Cost of Living adjustment on their SS was small or there was no COLA. In 2018, the SS COLA is 2%. This allows for the Medicare premium to go up without reducing the SS benefit. Does it mean, in some cases, that almost all of the 2% increase in SS goes to paying the higher Medicare premium? Yes. You're seeing little or no increase in your SS. But you are NOT getting any less than you got in 2017.
Maybe you have a Medicare Advantage plan and the premium for that went up, and so your net SS went down. That's too bad, because the 'hold harmless' provision doesn't cover that. The reason: Medicare Advantage plans are OPTIONAL. You aren't required to have one. Part B is MANDATORY.

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mbrcatz 6 months ago

The benefit amount didn't go down. The charge for Medicare went up, so you see less.

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Rick 6 months ago

No
That is not allowed
Under the law your SS check can not go down to pay for Medicare increase
My wife's SS is so small the raise was not enough to pay the increase in medicare so she gets the same as she did last year but only pays $129 for medicare

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Ronald 7 6 months ago

I am from the UK and getting DLA and PIPS
I do alright

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Philip H 6 months ago

Sorry but I do not yet have the necessary bottom line information to answer that. I did get a 2% SS increase and an increase in my premiums, so I'll let you know how that balances out after I get my bank statements in about a month.

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Casey Y 6 months ago

The benefit didn't change, your expenses did...unless I am missing something about this chat.

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Insurance Pickle.com 6 months ago

Social security went up...but Medicare went up more for many people.

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lucy 6 months ago

Not to sound harsh, but the difference of Medicare vs. “regular” health insurance is a BIG difference for me.
Back in 2010 paying $259, then (each) year went up at a minimum of $50 to $100 per month. My premium for 2017 was $699 and when I got a notice for 2018, it was for almost $1,000 per month with a $6,550 deductible//////// after age 60 the cost was significant since I was a greater risk of them paying claims.
As of January 1, 2018, I am on Medicare. So with my medigap and my Part D, the (total) cost is $205 per month with a $187 deductible under Part B which is (almost) everything unless admitted to a hospital then is $1,300? Deductible.
I know that the cost was $112 prior; (late husband) so the increase is about $20 per month more and that COLA is only 2 or 3 % so paying more.
Yes, a lot of senior citizens may only have Social Security to live on which is awful. But if we had to be in the (pool) of buying regular health insurance like me (up until December 2017), then (no) you can’t pay $1,000 per month for health insurance and live on SS.
The one best thing with Medicare (now) is that the cost going up is (minimal) vs. what everyone else out there has to pay, since health care expenses keeps going up.
So, like I stated in the beginning, prior to getting on Medicare what was you paying? If you was on Medicaid, then would you know the (true) cost of what the cost of your insurance was? Unknown your age and when you got on Medicare, but for me to go from $699 to $205 and I am happy as heck.

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Zarnev 6 months ago

The Part B premium did not go up. It was $134 per month in 2017 and it is $134 per month in 2018.
What actually happened was the economy was bad in the past 4 years so people on Social Security did not receive a COLA adjustment in three of those years and a small .3% increase in the most recent year. Because of the "hold harmless" law those on SS didn't have to pay the higher increase in Part B premiums except for the small increase last year. Those that were not on SS did have to pay the increase each year.
In 2014 most people were paying $104.90. In 2015 the premium went up to $110 but because you didn't receive the COLA adjustment you continued to pay $104. In 2016 the premium went to $123 but again you didn't receive the COLA so your continued to pay $104. In 2017 the premium went to $134 but you did receive a small COLA adjustment so most people increased from $104 to $109 or so. This year the premium remained at $134. However, you received a whopping 2% increase so you need to "catch up" to the premium. Many people are now around $130 to $134, depending on their exact increase.
You said your SS went down $5. It is illegal for the increase in Part B premium to take more than your increase. More than likely it's because your Medicare Advantage plan premium went up. If not, you have a complaint that you should take up with SS.

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