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Get an Idea of the Numbers Involved in Medicare Increases

Although officials say there will be no inflation next year, hence no COLA, there will be rising costs for some people who receive payments like Supplemental Security Income. If you are included in this group, you have likely heard about the impending Medicare premium increases.

The good news is that the majority of those who use Medicare will not be affected since their premiums cannot increase without a cost-of-living adjustment. However, about one quarter of all beneficiaries will have to pay over $100 per month for the basic premium. This is an increase of about 15%, according to The New York Times. 

If you fit into any of the following categories, you will likely be paying more next year for your healthcare:

• High-income bracket
• New to Medicare
• Medicare premiums paid for by Medicaid

Even if you do not belong to any of those categories, you will still likely be indirectly hit by the increase. Both the federal and state governments will be affected, which indicates the possibility of higher taxes for everyone. If you are not happy about this change, you are not alone.

There is a bill currently awaiting approval by the Senate to stop the premium increase. It has already been approved by the House, and some senators also stand behind it. However, some officials are waiting on the outcome of the healthcare reform bill to determine how to proceed, as some people support the idea of the federal government or even state officials creating their own healthcare plan.

If you will not be affected directly, you might not have much interest in fighting the issue. However, aside from possible higher taxes, many people simply find it unfair to take away the COLA and add to healthcare costs. For this reason, everyone is encouraged to contact their state representatives to express their displeasure. Additionally, you can contact a lawyer if you have questions or concerns about how this could affect you. 

Fort Lauderdale, Florida disability lawyers, LaVan & Neidenberg, represent over 5000 disability claimants. Our disability attorneys have experience with cross examining agency-appointed medical and vocational experts and take time when speaking with you about your disability claim. Call us today at 1-888-234-5758 for a FREE legal consultation. There is NO OBLIGATION to hire our firm and there are NO FEES unless one of our trained disability lawyers wins your case.