USA Update -- Medicare - March 27-2011
Medicare - March 27-2011
Millions of retired and disabled people in the United States had better brace for another year with no increase in Social Security payments.
When Medicare premiums rise more than Social Security payments, millions of people living on fixed incomes don't get raises. On the other hand, most don't get pay cuts, either, because a hold-harmless provision prevents higher Part B premiums from reducing Social Security payments for most people.AARP estimates that as many as three-fourths of beneficiaries will have their entire Social Security increase swallowed by rising Medicare premiums next year.
Most lost value in their homes when the housing market crashed and who can't find work because the job market is weak or they are in poor health.Some live on a $1,262 Social Security payment each month, with more than $500 going to pay the mortgage or rent.
They cut back on about everything they can, and then take the rest out of savings if they have any.
Millions of retired and disabled people in the United States had better brace for another year with no increase in Social Security payments.
When Medicare premiums rise more than Social Security payments, millions of people living on fixed incomes don't get raises. On the other hand, most don't get pay cuts, either, because a hold-harmless provision prevents higher Part B premiums from reducing Social Security payments for most people.AARP estimates that as many as three-fourths of beneficiaries will have their entire Social Security increase swallowed by rising Medicare premiums next year.
Most lost value in their homes when the housing market crashed and who can't find work because the job market is weak or they are in poor health.Some live on a $1,262 Social Security payment each month, with more than $500 going to pay the mortgage or rent.
They cut back on about everything they can, and then take the rest out of savings if they have any.
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