Message Font: Serif | Sans-Serif
 
No. of Recommendations: 2
Per Medicare FAQs, the Part B Premium will go up from $135.50 to $144.30, or an increase in $8.80/month. This hasn't been formally annouced yet, but it is considered an accurate estimate. But if it is the actual value, then any SS beneficiary with a monthly benefit of $550 will use all of the inflation adjustment to pay for the increase in the Part B premium. For the 'average' benefit wil then actually go from $24 to $15.20/mo. The top SS benefit for 2020 of $3,011 will see COLA increase of $48.18 or $39.38 after the part B increase.

A couple of other interesting Medicare changes beginning 2020:

Those who become Medicare eligible (turn 65) in 2020 will not be able to purchase 'first dollar' Medigap plans C, F and even high-deductible F. The purpose of Congress doing this is to expose all Medicare insureds to have to pay something out of pocket to prevent over-use. But this only applies to new eligibles, not to those already on these plans or those covered by a group plan who have deferred part B...they are grandfathered.

https://www.medicarefaq.com/faqs/medicare-changes-2020/

BruceM
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.