Medicare could cost you more than what You think in the year 2019
Sunday, October 14, 2018
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Medicare Part B premiums are headed higher next year because of the magnitude of health care costs, and that can be a bigger bite from the income of Your social security.
About 70% of the recipients of Social security have Medicare Part B premiums automatically deducted from their social security checks every month, and on the Medicare cuts will rise in the year 2019. Medicare Part B premiums will increase to $135.50 in 2019 instead of $134 in the year 2018, but the increase could be greater for Americans who have been protected from the past increased the premium by the provision exempting Social security, the rules that prevent premium increases by more than the recipients of social security checks.
First, some background on the Medicare Part B
Medicare consists of different "parts." prevalence, hospitalization includes part A, Part B covers the services of traditional health such as primary care, and part D covers prescription drugs. There is also a part C, or Medicare Advantage, which combines the protection of Parts A, B and D.
Medicare beneficiaries are usually not subject to premiums apart, but they will be charged a monthly premium for part B and part D, and they can apply for part C, also depending on the scope of the plan.
Program income funds from U.S. income tax for most of the part B cost of public funds through the government, but about 25% of the cost will be paid by the Recipient through premiums. Premium usually referred to a Medicare beneficiary, but the income of average incomes may pay more. For example, the following chart shows the premiums paid by the Recipient according to the level of income.
How much has not changed in the year 2019 premium
As I mentioned, Medicare Part B premiums will increase about 1.1% on the year 2019 for $135.50, but many Americans may see their rising premiums more than it was when they had previously been obtaining the benefits of containment are not dangerous.
Social security uses the consumer price index (CPI-W) workers to calculate the annual increase to benefits, and since medical costs historically increase faster than other goods and services, Part B premiums have increased more than the annual cost of Social security --of living adjustment, or Cola.
Fortunately, the government detention of dangerous to prevent the Medicare Part B premium increases by more than the increase in social security (in terms of dollars) per year. Premiums increased from income of Social security causing You to fall. Unfortunately, freeze the premium is temporary. As income increases, Social security Recipients have to pay more towards the premium until it reaches the total premiums during the year.
In the year 2018, the catch more than a few of the premium while causing millions of Americans to relinquish their increase Social security COLA to 2%. According to the staff of the League, around 40% of all recipients of Social security saw a $5 or a little more increase in their social security because most of the increases to which they go to bring their Part B premiums until now.
This situation will not be as bad next year, but millions of people still pay less than they should have insurance Part B, and that means a good part of the social security benefits they increase by 2.8% in the year 2019 can go to Medicare again. For example, the average person held a dangerous pay a premium of $130 or $134 in the year 2018, so if they pay a premium of $135.50 in 2019, their premiums will increase 4.2 per cent, not 1.1 per cent.
Increase premiums paid by high-income can be greater. The following table shows how much income will pay Part B premiums by 2019. As You can see, the United States in the highest income will pay the part B premium is 7.4% higher than in the year 2018.
The cost of Medicare 710.2 billion includes 58,4 million Americans in 2017, and according to a supervisor at Medicare, the cost will continue to rise in the future. In their annual reports, it is estimated the cost of the 2018 Medicare as a percentage of gross domestic product the U.S. will rise to 5.9% in 2042 from 3.7% in 2017 under current law, and that if the cost of coverage provided by the legislation has been disassembled, care can Medicare spending can be increased to 6.2% of GDP in 2042. In view of this, it looks like Medicare Part B premiums will continue to take bites to increase COLA social security You in the future, too.
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