Medicare premiums will increase in 2025

The cost of Medicare Part B is estimated to increase in 2025 Centers for Medicare and Medicaid Services (CMS.) Medicare is an extra service provided to American residents, normally age 65, who qualify for retirement.

CMS explained on its website how and why premiums and tax-deductible costs will increase in the approaching 12 months:

“Each 12 months, the Medicare Part B premium, deductible and coinsurance rates are set in accordance with the provisions of the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $185.00 in 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deduction of $240 in 2024.

The increase in the usual premium and deductible for Part B for 2025 is primarily as a consequence of anticipated price changes and assumed utilization increases which might be consistent with historical experience.”

The cost will apply to all seniors, including those that are married, single, working or unemployed. Some will pay this expense out of pocket, while seniors receiving Social Security advantages will see a deduction in their paycheck.

“Medicare enrollees who already receive Social Security benefits can expect the new Part B premium for 2025 to be automatically deducted from their Social Security checks in January.”

Medicare has 2 parts, A and B. Part A partially covers hospital bills, and Part B covers mostly outpatient services. Regular screenings, home health services, doctor visits and outpatient services will now incur higher costs.

CMS will host a web-based information session on November 13 at 2:00 p.m. ET. The Emergency Medical Service Open Door Forum will discuss rising fees and explain the small print to recipients.

A price increase could seem small to some, but to others it could mean sacrificing a necessary item like food.

BLACK UNDERTAKING there have been recent reports of seniors in Atlanta combating food insecurity. Atlanta residents are receiving additional food assistance from Supplementary Commodity Food Program. Like other American seniors, they can not at all times afford groceries on their limited income.

TO BE reports: “Atlanta is not the only city struggling with food insecurity among seniors. The nonprofit Feeding America helps seniors across the country. As the elderly population grows, so does the problem of hungry citizens.”

Linda Nageotte, president of Feeding America, talked about how lack of access affects health.

“Food insecurity is closely linked to health, which becomes especially critical as we age. Addressing food insecurity amongst seniors would and will help reduce chronic disease result in healthier communities Generally.”