What’s Behind the Medicare Part B Premium Spike?
The nearly 67 million Americans who depend on Medicare will ring in the new year with an unwelcome cost increase. The Centers for Medicare and Medicaid Services (CMS) has announced that Part B premiums will rise to $203 per month from $185 in 2025. That $18 (or 10%) increase will consume about one-third of the average Social Security Cost-of-Living Adjustment (COLA).
“The average COLA will be $56 per month before the $18 Medicare Part B premium hike, leaving the average Social Security beneficiary with an effective monthly increase of $36 next year” noted our President and CEO Max Richtman in a news release.