|Oct. 20, 2015|
No COLA means big increase in Medicare Part B premiums for retired feds: NARFE urges members to take action!
NARFE's prediction that there would be no 2016 cost-of-living adjustment for federal retirees, military retirees and Social Security beneficiaries was confirmed last week by the Bureau of Labor Statistics. As a result, those who pay their Medicare Part B premiums out of their Civil Service Retirement System annuity are facing a whopping 52 percent increase in their premiums. The "hold harmless" provision in the Social Security Act states that the dollar increase in the Part B premium is limited to the dollar increase in an individual's Social Security benefit. With no COLA, an estimated 70 percent of beneficiaries will be held harmless, meaning, for most, their Part B premium will remain stable at $104.90. This leaves 30 percent of beneficiaries, including CSRS retirees who do not receive Social Security benefits, to shoulder the full cost of the 2016 premium increase, resulting in a projected premium increase of 52 percent, from $104.90 to $159.30 per month. If that wasn’t bad enough, FEHBP premiums also are increasing more than 7 percent for enrollees.
Legislation has been introduced to guarantee that all Medicare beneficiaries pay the same Part B premiums in 2016 that they paid in 2015, but Congress must hear from you! Tell your members of Congress that you shouldn’t have to pay more in Medicare premiums just because your premiums don’t come from Social Security.
Help protect federal retirees! Send an email now or call the Capitol Switchboard, toll-free, at 1-866-220-0044 to tell Congress to take action on H.R. 3696 and S. 2148 to make sure that everyone is held harmless in 2016. More
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