Home
http://www.medicareinteractive.org/page2.php?topic=counselor&page=script&script_id=1799
Each year, the Centers for Medicare & Medicaid Services (CMS) sets the following year's Part B premium. In 2016 the Part B base premium will be $121.80. This includes a $3 "surcharge" amount as a result of the budget agreement which reduced the premium increase. However, you will not necessarily pay this increased amount.
If you collect Social Security benefits and your Medicare Part B premium is deducted from those benefits each month (this is the case for the majority of people with Medicare), you may be protected under the hold harmless provision. The hold harmless provision protects Social Security recipients from paying higher Part B premium costs so long as:
You are entitled to Social Security benefits for November and December of the current year (2015);
The Medicare Part B premium will be or was deducted from your Social Security benefits in November 2015 through January 2016;
You don’t already pay higher Part B premiums because of Income-Related Monthly Adjustment Amount (IRMAA) eligibility; and
You do not receive a Cost of Living Adjustment (COLA) large enough to cover the increased premium. COLA is additional income given to Social Security recipients to protect against inflation decreasing the benefit’s purchasing power. There is not a COLA every year, and it is not expected that there will be one in 2016.
The hold harmless provision does NOT protect you if:
You are new to Medicare. Hold harmless does not apply to you because you have not been enrolled in Medicare Part B long enough to qualify.
You are subject to IRMAA.
You are enrolled in a Medicare Savings Program (MSP). However, the MSP should continue paying for your full Part B premium.
You were enrolled in a Medicare Savings Program in 2015 but lost the program because your income increased or you failed to recertify.
Note: If you qualify for the hold harmless provision but pay a Part B late enrollment penalty, the penalty will not be waived, and may increase. This is because the penalty will be calculated based on the new, higher premium—even if you are not paying that higher amount. Thus while your base Part B premium will not change, you’ll likely face a higher total Part B premium bill due to the late enrollment penalty.
Each year, the Centers for Medicare & Medicaid Services (CMS) sets the following year's Part B premium. In 2016 the Part B base premium will be $121.80. This includes a $3 "surcharge" amount as a result of the budget agreement which reduced the premium increase. However, you will not necessarily pay this increased amount.
If you collect Social Security benefits and your Medicare Part B premium is deducted from those benefits each month (this is the case for the majority of people with Medicare), you may be protected under the hold harmless provision. The hold harmless provision protects Social Security recipients from paying higher Part B premium costs so long as:
You are entitled to Social Security benefits for November and December of the current year (2015);
The Medicare Part B premium will be or was deducted from your Social Security benefits in November 2015 through January 2016;
You don’t already pay higher Part B premiums because of Income-Related Monthly Adjustment Amount (IRMAA) eligibility; and
You do not receive a Cost of Living Adjustment (COLA) large enough to cover the increased premium. COLA is additional income given to Social Security recipients to protect against inflation decreasing the benefit’s purchasing power. There is not a COLA every year, and it is not expected that there will be one in 2016.
The hold harmless provision does NOT protect you if:
You are new to Medicare. Hold harmless does not apply to you because you have not been enrolled in Medicare Part B long enough to qualify.
You are subject to IRMAA.
You are enrolled in a Medicare Savings Program (MSP). However, the MSP should continue paying for your full Part B premium.
You were enrolled in a Medicare Savings Program in 2015 but lost the program because your income increased or you failed to recertify.
Note: If you qualify for the hold harmless provision but pay a Part B late enrollment penalty, the penalty will not be waived, and may increase. This is because the penalty will be calculated based on the new, higher premium—even if you are not paying that higher amount. Thus while your base Part B premium will not change, you’ll likely face a higher total Part B premium bill due to the late enrollment penalty.
