“Medicare Part B premiums are rising in 2021 by more than double the Social Security COLA bump,” by Maurie Backman, USA Today

Quote:

“Rising health care costs are a major problem for seniors on a fixed income, and so any time Medicare premiums go up, it’s stressful for retirees. Unfortunately, the Centers for Medicare and Medicaid Services announced that Medicare Part B premiums will be rising in 2021. The standard monthly Part B premium is currently $144.60, but come 2021, it will increase to $148.50. That $3.90 bump represents a 2.7% increase, which is more than double the most recent Social Security cost-of-living adjustment (COLA). Of course, it’s not just Part B premiums that are rising. The annual deductible for Part B is also going up from $198 in 2020 to $203 in 2021. And the Part A deductible per hospital benefit period is increasing, too, from $1,408 to $1,484 – a $76 jump.”

 

 

LTC Comment:

The race to personal and public insolvency accelerates.