Free Republic

The window is closing for congressional leaders to avert the double-digit premium hikes that are set to hit 8 million Medicare enrollees next year. Congress has only a handful of weeks to prevent the 52 percent premium hikes — the largest in the program’s history — that will harm seniors and drain state budgets. And with a key deadline missed on Thursday, aides of both parties say a deal between House leaders by year’s end is becoming less likely.

WASHINGTON — The 60 million people on Social Security will not receive any cost-of-living increase in their benefits in 2016, the government said on Thursday, but because of a quirk in federal law, nearly one-third of Medicare beneficiaries could see record increases in their premiums unless Congress intervenes. With millions of older Americans on fixed incomes facing that one-two punch, the Obama administration is urging Congress to moderate or stop the health insurance premium increases, which could raise the cost for some Medicare beneficiaries by about 50 percent — the largest increase, by far, in the history of Medicare. But...

The actual rates for Part B (which covers the costs of doctor visits and outpatient care) will be announced in October and take effect Jan. 1. The boost may be 15% for all participants [$105/month to $121] or a whopping 52% for some [$105/month to $159], depending on whether Social Security recipients see a cost-of-living raise for 2016.