This article was originally published on Aug 18, 2009 and has been carried over from our previous website. Some legal details, dollar figures, and program rules may have changed since then — please contact us for current guidance.
Ouch…. For the first time in over 30 years, Social Security will NOT be giving retirees a cost-of-living increase (COLA) for 2010 (http://www.nytimes.com/2009/05/03/us/politics/03benefits.html). Most beneficiaries will not see a change in their Medicare Part B premiums; however, for about one-quarter of all beneficiaries, Medicare Part B premiums — normally automatically deducted from your Social Security check — will increase from the present $96.40 per month to an estimated $119 per month. It is also highly likely that Medicare D premiums for prescription drug coverage will go up for everyone.
