Last week, Social Security beneficiaries learned their benefits would go up 3.6 percent next year. That’s about $43 a month for the typical check of $1,186, according to the National Committee to Preserve Social Security & Medicare.
But the concern was that increases in Medicare Part B premiums would eat up that raise in benefits.
The Department of Health and Human Services announced today that the premium would only go up by $3.50. That means, according to the national committee, seniors over the age of 65 who paid $96.40 a month for Medicare Part B will pay $99.90 next year.
Part B premiums pays for physician services, outpatient hospital services and some home health services.
The premium has been frozen for two years for many seniors because they didn’t get an increase in Social Security benefits. The agency also says the Part B deductible will also fall by $21 next year to $140.