Thanks for posting.
The standard monthly premium for Medicare Part B enrollees will be $164.90 for 2023, a decrease of $5.20 from $170.10 in 2022.
source: 2023 Medicare Parts A & B Premiums and Deductibles 2023 Medicare Part D Income-Related Monthly Adjustment Amounts
I bet most of you don’t know your SS payment can be lowered too. It’s happened to me twice. I sold off long held pieces of real estate after retiring, both sales resulted in capital gains in the low $200k range.
After reporting those sales on my tax returns and paying the capital gains taxes on time and in full, my SS payments were lowered by over $200 a month for 2 years both times. I’m still collecting less as I write this.
After my Medicare premium increase last year was deducted I received a net 1% increase from Social Security to deal with last year’s transitory inflation.
“much of the increase came from a single factor: the Biogen Alzheimer’s drug Aduhelm”
So we got screwed on Medicare because Medicare decided to cover this very expensive but totally worthless drug with potentially long term dangerous side effects. Our politicians are totally owned by big pharma.
41% of Adulhem patients had brain swelling or bleeding
https://www.advisory.com/daily-briefing/2021/11/29/aduhelm-side-effects
Amazingly, my supplemental insurance actually went down $15/mo this year.
Do SS recipients still have to pay taxes on Social security they paid into on already taxed income, AKA the senator Joe whazzizname SS tax?
Or we’re still pretending SS is a taxable gift from the government?
I have been drawing full SS for nearly two years, the wife gets her first payment next month. So, yeah, wo-hoo.
However, the additional benefits may well be eaten up by federal and state income taxes.
Nothing much compared to the 22% pay raise that Congress gave themselves earlier this year.
much of the increase came from a single factor: the Biogen Alzheimer’s drug Aduhelm
—
A perfect example of the corruption that is the FDA. An exorbitantly expensive drug to treat Alzheimer’s and the drug does not work. It does make a boatload of money, however.
p
Huh! That would be refreshing. Yes, I got a 5.9% SSA increase in 2022, but I got about a 17% increase in Medicare premium. As a new retiree, I figured that was probably par for the course given this government’s proclivities and ineptitude. It’s nice to hear things might be different in 2023.
How much Biogen does Biden have to take, and why can’t the dems cover it under their private plan?
They’ll all probably blow it on a quart of gasoline.
If the feds were concerned about “seniors,” they would exclude SS payouts from federal income taxes.
I have gotten a kick out of the reports that seniors were
going to be getting ‘big’ raises, from time to time. As
others have posted here, those big raises are gobbled up
by Part B and whichever plan folks have bought to help
cover the amounts not covered by Medicare A & B. And
if you have Medicare Part D, good luck with that also.
If folks wind up with extra after it all shakes out each
year, it won’t be much.