The Senior Citizens League's estimate is based on an expected Part B increase of .50 per month, from 4.00 in 2018 to 5.50 per month in 2019, as estimated by the Medicare Trustees in June of this year. "A Part B increase any more than .50 per month would mean that even more people at even higher benefit levels would potentially be affected by the Social Security 'hold-harmless' provision again in 2019," Johnson notes..TSCL will keep a close eye on the fiscal 2016 budget resolution as it moves through the Senate in the coming days, and we will continue to voice our concerns about cuts to the Medicare program that would result in higher costs for beneficiaries. For updates on its movement, visit our new Facebook page..New Medicare enrollees in 20Because they are participating in Medicare for the first time, they are not protected because they have no prior premium to serve as a "hold harmless" baseline.."The measure would generally limit surprise billing in the following circumstances:.A growing number of Medicare beneficiaries are choosing to receive their coverage through private Medicare Advantage plans, rather than traditional Medicare with a Medigap supplement and Part D plan. The choice requires careful evaluation of costs and an understanding of how the prospective Medicare Advantage works, because once you give up your Medigap plan, you probably won't be able to get another one, or if you do, you could be charged significantly more. No matter what you decide, you will still be required to pay the Part B premium..Higher income beneficiaries who pay "income-based" or Means Tested premiums. In 2009, people with incomes of more than ,000 or 0,000 pay a higher portion of the premium depending on their income..The Bipartisan Policy Center points out in a recent blog, that each of these sources of revenues is negatively impacted by high unemployment. When people are out of work, no payroll taxes are withheld from earnings. A portion of Social Security benefits is taxable when a Social Security recipient has an income higher than ,000 or ,000 for a couple filing jointly. But the coronavirus recession has impacted both earnings from jobs and the value of retirement accounts, so that fewer retirees will meet the income thresholds that make their benefits taxable this year. Finally, the Federal Reserve has responded to the recession by cutting interest rates, which means that the yields on the bonds held by the Social Security Trust Funds are smaller and will provide lower interest income. A recession also causes a higher number of new claims when older workers are forced to retire earlier than planned, raising costs in the short term..This week, The Senior Citizens League endorsed two bills that would expand Medicare coverage to include hearing, dental, and vision services. In addition, lawmakers prepared for a week-long recess on Friday, and two key Social Security bills gained cosponsors..Medicare has begun a major program change that affects diabetics who get supplies home delivered and other seniors who rent medical equipment like home oxygen gear and wheel chairs. The program is intended to help seniors save money when they buy supplies and rent equipment, but TSCL believes it is more likely to first cause confusion and surprise unanticipated costs until patients figure out the new system.
