“”The question for SS retirees is — how much will the Medicare premium rise?””
TRUE and social security recipients need to be aware and remember this. If they have Medicare Part B, that premium will go up and it will be offset by the increase in COLA...Some do not sign up for Part B.
I’m curious if the SS COLA will be the same as the federal retirees increase!!!
“”The 3.6 percent cost-of-living adjustment (COLA) will begin with benefits that nearly 55 million Social Security beneficiaries receive in January 2012. Increased payments to more than 8 million SSI beneficiaries will begin on December 30, 2011.””
From the Social Security website - so the increase for federal retirees COLA and SS recipients is the same. Answered my own question.
Recipients also need to be aware...
They must sign up for an approved Part D Prescription Drug plan. Failure to do so will result in a monthly penalty that will accumulate until they do enrol in an approved plan. And, the penalty will not go away when they do enrol — once it starts, it will continue forever.