Looming Price Increase for Medicare
With the news of a year without COLA increase for Social Security also comes a threat of a premium increase to Medicare that will affect millions of Americans. The final numbers are to come later this month once the Bureau of Labor Statistics releases its final findings on the Consumer Price Index. The premiums are expected to jump as much as $55 per month unless a fix can be found between congress and the Obama administration. 70 national organizations are currently lobbying for a fix to be proposed in order to assuage these added costs, saying that most simply cannot afford such an increase in their monthly premiums. Eric Pianin has more to say on this subject in this article with The Fiscal Times.