Big Price Hikes for Medicare Premiums in 2017?

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published 17 July 2016

Retirees, brace yourselves: Some participants may see double-digit premium hikes for Medicare Part B in 2017.

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Congress figures to step in before the bills are due, as it did last year. But if it doesn't, premiums for about 30% of beneficiaries could jump 22%, from $121.80 per month to $149 a month in January 2017, if the cost-of-living adjustment for Social Security is low, as expected. The COLA for next year is likely to be quite small: 0.2% to 0.8%. The actual rates for Part B (which covers the costs of doctor visits and outpatient care) will be announced in October and take effect January 1.