Millions of Americans facing squeezed Social Security checks due to rising Medicare premiums.
Starting in 2026, the average Medicare Part B premium will skyrocket by 9.7% to a whopping $202.90 per month, leaving seniors with barely enough wiggle room to keep up with inflation. This means that for millions of retirees relying on Social Security as their primary source of income, the increase will effectively lower next year's cost-of-living adjustment (COLA) to just 1.9%, a paltry fraction of the current inflation rate.
The culprit behind this alarming trend? Soaring healthcare costs, which have been accelerating at an alarming rate for all Americans. The average out-of-pocket healthcare expenses in 2023 jumped by 9% from 2020 on an inflation-adjusted basis, with seniors and other groups feeling the pinch hardest.
In addition to the Part B premium hike, Medicare's costs are also rising due to increased demand for medical services. With lawmakers struggling to extend premium tax credits that help lower healthcare costs for millions of Americans, working adults may soon face steep rate hikes if Congress fails to act. The expiration of these credits at the end of 2025 has become a major sticking point in recent government shutdown talks.
Meanwhile, workers with employee-sponsored coverage can expect their healthcare costs to climb by 6-7% next year, according to an analysis from Mercer. This squeeze on household budgets is set to have far-reaching consequences for seniors relying heavily on Social Security and Medicare for their livelihoods, as Max Richtman of the National Committee to Preserve Social Security and Medicare warned: "So many rely on [Social Security] for all or most of their income...This is gonna hurt."
Starting in 2026, the average Medicare Part B premium will skyrocket by 9.7% to a whopping $202.90 per month, leaving seniors with barely enough wiggle room to keep up with inflation. This means that for millions of retirees relying on Social Security as their primary source of income, the increase will effectively lower next year's cost-of-living adjustment (COLA) to just 1.9%, a paltry fraction of the current inflation rate.
The culprit behind this alarming trend? Soaring healthcare costs, which have been accelerating at an alarming rate for all Americans. The average out-of-pocket healthcare expenses in 2023 jumped by 9% from 2020 on an inflation-adjusted basis, with seniors and other groups feeling the pinch hardest.
In addition to the Part B premium hike, Medicare's costs are also rising due to increased demand for medical services. With lawmakers struggling to extend premium tax credits that help lower healthcare costs for millions of Americans, working adults may soon face steep rate hikes if Congress fails to act. The expiration of these credits at the end of 2025 has become a major sticking point in recent government shutdown talks.
Meanwhile, workers with employee-sponsored coverage can expect their healthcare costs to climb by 6-7% next year, according to an analysis from Mercer. This squeeze on household budgets is set to have far-reaching consequences for seniors relying heavily on Social Security and Medicare for their livelihoods, as Max Richtman of the National Committee to Preserve Social Security and Medicare warned: "So many rely on [Social Security] for all or most of their income...This is gonna hurt."
my grandma lives in usa and she's getting a 9.7% hike in her medicare bill lol what's that even? wont be able to afford anything anymore 
did u know that average ppl r paying like 10k+ for health insurance alone? its crazy 
First, the Social Security checks are getting squeezed because of those Medicare premiums, and now we gotta deal with higher healthcare costs? It's like the government wants us to be broke. 
Have you seen the Part B premium going up by 9.7%? That's insane! And what about the COLA? 1.9% is peanuts compared to inflation. They're basically taking away our financial stability and leaving us high and dry. 
I'm not saying it's a conspiracy, but... have you noticed how healthcare costs keep going up? It's like they're trying to create a trap for us seniors. We need some answers here! 
. It's no wonder people are freaking out. I mean, seniors who rely on Social Security for most of their income are going to struggle big time 
. The COLA increase is basically peanuts compared to the actual inflation rate... it's like Congress is just not taking this seriously enough 
. And what about all these workers with employee-sponsored coverage who are already going to see a 6-7% hike? It's like they're being squeezed from both sides 
. Can't Congress do something about this? It's not fair that one group is bearing the brunt of all these rising healthcare costs 
. And what about the working adults who can't even rely on their employer to help with healthcare costs? It's like we're all being left high and dry 
. Something needs to be done, and fast 
.
ugh this is really bad news... I feel so bad for seniors who have to live on these tiny checks already, now they're getting squeezed even harder 
. and what's up with these healthcare costs? it's like they're just skyrocketing outta control 
We gotta keep pushing for better solutions here. Maybe Congress can work together to find a way to make healthcare more affordable for everyone, especially seniors and low-income families. That'd be amazing! 
. Now it feels like we're stuck in this never-ending cycle of rising costs and decreasing benefits 
. I just hope Congress does something about it before it's too late...I don't think my grandma could handle the stress 
...
. We need to make sure our lawmakers are listening to the people who'll be most affected by this 
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Medicare Part B premium increase over the years:
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. We need to take care of our elderly population, not leave them to fend for themselves