What to Expect for an Increase in Social Security Benefits (and Medicare premium) in 2018…

While the official 2018 changes to both Social Security Benefits payments and the Medicare Part B Premium will not be announced until October, we can reasonably anticipate what these increases will be. The net is that, while this is likely to be the largest inflation based increase in Social Security Benefits in the past few years. That said much of the increase will go to cover your increase in Medicare Part B premiums. This after you have experienced virtually no Medicare Part B Premium increase for the past few years.

If, however you are between the ages of 65 and 70, Have been enrolled in Medicare Part B, and have not yet triggered your Social Security Benefit (you smarty pants – taking the delayed higher benefit) you will likely see your Medicare Part B Premium drop a bit in 2018. This will bring those of you in this circumstance down to what those receiving a Social Security Benefit currently will be paying in 2018 – after you have shouldered the bulk of the Medicare Premium Increases for the past few years.  
 

Read on to get the details…