Posted on 08/16/2015 8:52:26 AM PDT by zeestephen
The actual rates for Part B (which covers the costs of doctor visits and outpatient care) will be announced in October and take effect Jan. 1. The boost may be 15% for all participants [$105/month to $121] or a whopping 52% for some [$105/month to $159], depending on whether Social Security recipients see a cost-of-living raise for 2016.
(Excerpt) Read more at msn.com ...
"But without a raise in Social Security benefits, higher Medicare fees couldn't be charged to most folks.
So the larger increase would apply to about 30% of Medicare beneficiaries:
-- those who enroll in Part B in 2016,
-- people who don't have their premiums deducted from Social Security payments,
-- individuals with annual incomes above $85,000,
-- and people eligible for both Medicare and Medicaid.
For the last group, known as "dual eligibles," Part B premiums are paid by the state where they live.
Medicare beneficiaries in these groups would see bills jump to $159.30 a month unless the Obama administration took steps to lessen the pain. That's possible, but not certain."
The entire Medicare funding plan is a scam and has been broke for years. It’s been on life-support every day.
Pubbies should be shoving this down Obamas throat.
Expect the Kenyan to use his authority to suspend any increase until November 15, 2016
And you must remember, that the premiums for Parts B and D only cover 25% of the costs, by law. The rest comes from the General Fund.
There will be no COLA increases for SS in 2016.
Bernie just touted how he'll expand Medicare for ALL.
Medicare needs reform….all these old people living in Florida…they run to the doctor for every little thing…for some it a way to get out…no out of pocket cost in most cases..golfers are the worse run to the Orthopedic doctor…and then rehab..most of the time all they need is rest for their shoulder or back
Imagine what the outrage would have been if Bush was pres? And those last two times with no COLA under 0bama - not a peep.
Medicare, like SS, is a pay as you go system. Today's workers pay for today's retirees. In 1950 there were 16 workers for every retiree; today it is three workers; and by 2030 there will be two workers for every retiree. People are living longer. Medicare has been running in the red since 2008.
In 2014, Medicare provided health insurance coverage to 53.8 million people at a cost of $613 billion – roughly the GDP of Argentina. The average value of the Medicare benefit per enrollee was $12,432, about 2 percent higher than last year.
But the report warned that several million Medicare beneficiaries could see their Medicare Part B monthly premiums skyrocket by 52 percent in January — from $104.90 to $159.30. Medicare Part B, which is paid for by a combination of federal funds and beneficiary premiums, generally covers physician and outpatient costs.
The huge rate hike is predicted because of a confluence of two factors: Medicare Part B costs increased more than expected last year, and Social Security is not expected to have a cost of living increase next year. By law, the cost of higher Medicare Part B premiums can’t be passed on to most Medicare beneficiaries when they don’t get a Social Security raise. As a result, the higher Medicare costs have to be covered by just 30 percent of Medicare beneficiaries. This includes the 2.8 million Medicare enrollees new to the program next year, 3.1 million Medicare beneficiaries with incomes higher than $85,000 a year and 1.6 million Medicare beneficiaries who pay their premium directly instead of having it deducted from Social Security. An additional 9 million people affected by the higher rates are so called “dual eligibles” — those on Medicare and Medicaid. States pay the Medicare Part B premium for duals.
Wonder if those projections take into account the much lower pay among the younger workers. SS tax is based on a percentage of wages. Means less money flowing in per head. One of the reasons I’m sure for pushing higher hourly min salaries.
What, inflation???? I thought that Janet Yellen and her cronies said that there is no inflation going on?????
/Sarc Off
There are some no doubt, but Then there are those who were dumped into unemployment at an age I don't consider old, were refused employment because of their age and then having lived and worked through debilitating injuries and physical damage are now unable to work even if someone would deign to hire them. But hey they're all leeches on society right, they never paid into the systems promise, through no choice, so screw em right? Sorry I'll save my ire for the leeches streaming across the border being given everything for nothing by the LaRaza worshippers.
bfl
Medical care costs too much to live and end of life “care” costs way to much to die.
Our medical system is BROKEN. No way the nation can survive paying at least 1/6th or about 18% of our income for medical care... it is just way too much. It has gotten way out of hand.
It is unsustainable.
No worries, my medicare premium is paid by my former employer
Medicare needs reform….all these old people living in Florida…they run to the doctor for every little thing…for some it a way to get out…no out of pocket cost in most cases..golfers are the worse run to the Orthopedic doctor…and then rehab..most of the time all they need is rest for their shoulder or back
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20% co pay, that’s after you have paid the deductible, which is somewhere around $150 per annum. An exception would be if their secondary insurer paid the balance but mnay secondary policies have substantial deductibles too.
Imagine what the outrage would have been if Bush was pres? And those last two times with no COLA under 0bama - not a peep.
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I peeped, it didn’t do any good but I peeped.
“...never put away any money for their own retirement...”
So the hit my 401K took on 9-11 was my fault? And after making most of it back, what the recession of 2008 took was my fault? I’d expect more consideration from a fellow 67-68 VN vet.
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