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Honored Contributor
Posts: 14,947
Registered: ‎10-25-2010

OMG! Medicare Part B sky high premium

To those who have Medicare, get ready.  The premium for Part B that most of us pay $148.50 for will be $170.10 beginning on January 1.

 

There no reason to celebrate the raise we were expecting for Social Security, this hike is going to cancel it out.

 

 

Esteemed Contributor
Posts: 5,306
Registered: ‎03-09-2010

Re: OMG! Medicare Part B sky high premium

The article says...

 

"Most people with Medicare will see a significant net increase in Social Security benefits. For example, a retired worker who currently receives $1,565 per month from Social Security can expect to receive a net increase of $70.40 more per month after the Medicare Part B premium is deducted."

My religion is very simple. My religion is kindness ~ Dalai Lama XIV

When the power of love overcomes the love of power, the world will know peace ~ Jimi Hendrix
Honored Contributor
Posts: 14,947
Registered: ‎10-25-2010

Re: OMG! Medicare Part B sky high premium

[ Edited ]

That is true.  Social Security is going up too as I said in the OP.

 

There are many people who have Medicare that do not receive a Social Security payment.  They get billed monthly, or they can use autopay which is billed for three months at a time. Not everyone goes on Medicare at age 65.

 

Medicare Part B deductible also will go up $30 and the Part A deductible is going up $72.

 

You can be sure your Medicare Supplemental coverage will also go up.  In reality, that SS raise is gone before it hits our accounts.


RX coverage also is taking a big hike for 2022.  For most people, they aren't getting a raise at all.

Respected Contributor
Posts: 4,260
Registered: ‎10-26-2010

Re: OMG! Medicare Part B sky high premium

@Carmie. It's outrageous!!!  Our bill is going from $147.50 per month to $201 beginning in January.  That's well above our supposed cost of living increase.

 

It infuriates me that some look at Social Security as an entitlement.   We worked for decades and paid into this with every paycheck.

Honored Contributor
Posts: 14,947
Registered: ‎10-25-2010

Re: OMG! Medicare Part B sky high premium

@grandma r   I 100% agree with you.  We paid into this, it isn't an entitlement.

 

 

Regular Contributor
Posts: 225
Registered: ‎06-21-2021

Re: OMG! Medicare Part B sky high premium

I am afraid this is the way it's going to go now.  I expect to have a lot less in many ways this coming year.  Higher taxes I'm think will be coming too.  It's the working people who have to pay the bills.

Honored Contributor
Posts: 14,947
Registered: ‎10-25-2010

Re: OMG! Medicare Part B sky high premium

@SoonerLater   We have so many people who are not working right now.  If they aren't working, they aren't paying any taxes. It's scary.

Honored Contributor
Posts: 31,684
Registered: ‎08-23-2010

Re: OMG! Medicare Part B sky high premium


@grandma r wrote:

@Carmie. It's outrageous!!!  Our bill is going from $147.50 per month to $201 beginning in January.  That's well above our supposed cost of living increase.

 

It infuriates me that some look at Social Security as an entitlement.   We worked for decades and paid into this with every paycheck.


 

 

I'm not there yet, but many times I've seen comments that indicate suprise when it comes to price increases.

 

Medicare isn't free.   If someone told you that Medicare is free, they lied.

Honored Contributor
Posts: 14,947
Registered: ‎10-25-2010

Re: OMG! Medicare Part B sky high premium

[ Edited ]

@Tinkrbl44   No it is not free and never was.  However, most people have worked enough quarters to not have a preminum for Medicare Part A.  Some who did not work enough pay $471 each month for Part A, plus they pay for Part B which is currently $148.40.

 

Medicare doesn't pay your bills at 100%.  It has deductibles and coinsurance, so for some people they pay more for Medicare and a supplement than they would from the insurance open market.  And if you want RX insurance, that is extra.

 

I have worked with Medicare insurance since 1988.  I have seen the payments go up and the benefits go down.  The Medicare supplements have gone up and benedits were lost after the Feds got involved.

 

I don't understand how our lawmakers gained control over insurance and made decisions on something they know nothing about.

 

it is really too bad.

 

I have been reading that Advantage Plans are going to be losing funding.  Hang on to your hats! It's gonna be a bumpy ride.

Regular Contributor
Posts: 225
Registered: ‎06-21-2021

Re: OMG! Medicare Part B sky high premium

@Carmie An Advantage plan was my only choice last year, but this year I think I'm going back to a Medicare Supplement plan that is offered also.

 

What a mess.  I can't make heads or tails of any of it.  I really don't like the Advantage PPO plan, don't like the other either!!!  Woman Frustrated