Originally Posted by Rainger99 (Post 2034807)

I just read that Social Security benefits are going up 5.9 percent next year which is the highest in 40 years. However, the premiums for Medicare Part B (which covers doctors’ visits) for 2022 is going up 14.5 percent. The standard monthly premium will go from $148.50 to $170.10. The average monthly Social Security benefit is about $1,487 and 44% of Medicare recipients reported spending between $160 and $495 a month on health care.

Originally Posted by rmd2 (Post 2034883)

I just got my new Social Security statement for 2022. My monthly Social Security decreased $10 from $121 to $111 and my monthly Medicare payment increased from $208 to $238 for a total loss this coming year of $40 a month. And EVERYTHING has gone up in price!

Originally Posted by beaglebrain (Post 2034897)

Depends what boat you are in...
The increase in SSA benefit was the same as the increase in Medicare premium for me - dollar for dollar. Same for my wife. So, I paid income tax on the SSA increase only to give the increase right back to the GOVERNMENT. I got no net increase in income. So the GOVERNMENT got more tax money with no net payout - just some accounting slight of hand. I expect the same for 2022.

Originally Posted by REDCART (Post 2034831)

I believe last year’s SMI premium increase was less than it should have been because of COVID relief. It went from $144 to $148.50. So I believe this year’s increase makes up for that shortfall.

Originally Posted by Fisherman (Post 2034932)

Thank you, Luggage. You have the correct information.
The increases in the 2022 Medicare Part B premium and deductible are due to:

“Rising prices and utilization across the health care system that drive higher premiums year-over-year alongside anticipated increases in the intensity of care provided.
Congressional action to significantly lower the increase in the 2021 Medicare Part B premium, which resulted in the $3.00 per beneficiary per month increase in the Medicare Part B premium (that would have ended in 2021) being continued through 2025.
Additional contingency reserves due to the uncertainty regarding the potential use of the Alzheimer’s drug, Aduhelm™, by people with Medicare. In July 2021, CMS began a National Coverage Determination analysis process to determine whether and how Medicare will cover Aduhelm™ and similar drugs used to treat Alzheimer’s disease. As that process is still underway, there is uncertainty regarding the coverage and use of such drugs by Medicare beneficiaries in 2022. While the outcome of the coverage determination is unknown, our projection in no way implies what the coverage determination will be, however, we must plan for the possibility of coverage for this high cost Alzheimer’s drug which could, if covered, result in significantly higher expenditures for the Medicare program.”

Originally Posted by Rainger99 (Post 2034807)

I just read that Social Security benefits are going up 5.9 percent next year which is the highest in 40 years. However, the premiums for Medicare Part B (which covers doctors’ visits) for 2022 is going up 14.5 percent. The standard monthly premium will go from $148.50 to $170.10. The average monthly Social Security benefit is about $1,487 and 44% of Medicare recipients reported spending between $160 and $495 a month on health care.

Originally Posted by cherylncliff (Post 2034972)

So the Medicare is going up $12 and SS is going up on average about $ 100. A net gain.

Originally Posted by davem4616 (Post 2034980)

I don't pay much attention to all the news about social security...

I do agree with the man that said, "What this country needs is a good five cent cigar!"