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Medicare will take bigger bite out of older Americans’ Social Security checks, report shows

Retirees can expect the cost of Medicare health insurance to eat up a bigger and bigger share of their Social Security checks in the future, according to a federal report issued earlier this week. The report, by the trustees who oversee Medicare and Social Security, shows the financial health of Medicare, the government health insurance program for people 65 and older, has improved. But a section of the report that received little attention shows 23 percent of the average Social Security recipient’s check is needed to pay for premiums for Medicare Part B…Read More

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