Nice increase, until you realize that the Medicare premium is also going up and will take all of that SS increase and then some - so Granny and Grandpa will be getting less in the coming year than the do now.
On one hand the government gives, while the other takes it away and additionally picks your pocket.
>>> Medicare premium is also going up <<<
This year, Brandon stopped covering certain insulin products under Medicare so the premiums will remain stable. I could be wrong.
According to the article, Med Part B is being reduced by about 3% next year.
+1000 ! And if you are on the low end of the SS pay scale, and on food stamps, they reduce those, too.
It’s supposed to be a cost of living increase, but it’s treated as a raise. My landlord wants to raise my rent
Actually it’s going to go down. The standard Medicare Part B premium will drop to $164.90 in 2023. That’s a decrease of $5.20 per month from 2022. Those with incomes greater than $97,000 will pay more than this, but their 2023 premiums will also be a bit lower than their 2022 premiums.
Not much but at least it isn’t going to jump 30 dollars like it did in 2022. They really should reduce it more as the reason they increased in 2022 was due to a drug the FDA was going to approve and then decided not to because of bad study report.