President Obama signed the Bipartisan Budget Act of 2015 into law on Monday. Among its provisions, the two-year budget deal sets 2016 Medicare Part B premium rates.
Following an outcry by many groups, new legislation would reduce the premium increase facing Medicare Part B participants in 2016. However, some will benefit and some will not. The author explains who comes out on top and who doesn’t under the new law.
Federal retirees who are also enrolled in Medicare part B will be glad to know that the budget deal put forth in the House includes language to protect them from a sharp increase in premiums.
An individual who reaches the age of 65 becomes eligible for Medicare. However, if at the time they become eligible for Medicare, they are working at a job that provides them with health insurance, they will not be subject to the 10% Medicare Part B late enrollment if they enroll in Medicare Part B later than age of 65, as long as they enroll within the eight months after they retire.
Without immediate action by Congress or the administration, a combination of economics and law may lead to Medicare Part B premiums rising as much as 52%. The author looks at some different ways the government could potentially prevent this from happening.
Legislation has been introduced in both the House and the Senate to prevent a potential 52% in Medicare Part B premiums.
Congress is considering a bill that would require postal retirees to enroll in Medicare Parts B and D or lose their Federal health insurance. Is this the future for all Federal retirees?
Starting in January, most retirees under the Civil Service Retirement System (CSRS), who also are enrolled in Medicare Part B, could see a 52% jump in their monthly Medicare premiums.
I retired four years ago and want to keep my current health plan. Will I be forced into Medicare or can I just keep my current plan?