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A question came to me from someone who read the rule and was questioning their decision to wait on drawing Social Security. My reading of the rule, now that I just found out about it, is it only applies with lower incomes and not to most people:
"people with Medicare will pay the new premium amount because the increase in their benefit amount will cover the increase. However, a small number of people will see little or no increase in their Part B premium — and their Social Security benefit checks will remain the same — because the amount of their cost-of-living adjustment isn’t large enough to cover the increase."
I don't know anyone who had the hold harmless rule applied.
Anyone had an example of that?
Note: not a math genius
"people with Medicare will pay the new premium amount because the increase in their benefit amount will cover the increase. However, a small number of people will see little or no increase in their Part B premium — and their Social Security benefit checks will remain the same — because the amount of their cost-of-living adjustment isn’t large enough to cover the increase."
I don't know anyone who had the hold harmless rule applied.
Anyone had an example of that?
Note: not a math genius