by Kristin P. Sinclair January 10, 2020
For those already receiving Social Security Benefits and also a Beneficiary of Medicare, You may have received; Your notification letter by now most likely that You are getting a cost of living increase.
You were also notified in the letter, that Your Medicare Premiums are going up, and Your cost of living increase will help to cover the additional cost associated with Medicare Premiums. So let’s look at some numbers:
$ 750.00 times 1.6% equals $12.00 add those two figures and you get $ 762.00
$ 1,000.00 times 1.6% equals $16.00 add those two figures and you get $ 1,016.00
$ 1,250.00 times 1.6% equals $20.00 add those two figures and you get $ 1,270.00
So when you are talking with folks and your friend shares information with you, and you hear of someone’s social security income increase amount and the numbers seem different for different people, yes it could happen.