Rising Medicare premiums
Since we’re still discussing Medicare, you should also know that even if you’ve managed to apply for Medicare within the application window, your Social Security could still undergo some changes. This is mostly due to Medicare premiums. Who said retirement is easy?
Let’s do some simple math and understand the situation. In 2012, Medicare Part B was $99.90 per month and also covered outpatient services. In 2019, the same service costs $135.50 for most people and a little bit more expensive for high earners. This means couples that earn $170,000 per year or more have to pay a monthly amount of $270.90 to $460.50 or even more, depending on their income.