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Social Security billing problem with Medicare premium deductions
About 250,000 Social Security recipients have not had their correct Medicare Advantage or Part D premiums deducted properly for five months. The Social Security Administration (SSA) just discovered the problem. That means a quarter of a million people will soon be getting bills to pay the premiums never properly deducted. Further, benefit recalculations, meaning reductions, will occur either in June or July for those same Social Security recipients. While true, the benefit payments will now simply be what they always should have been, that may be little consolation for those who overly rely on their monthly payments to make ends meet. Read the full report here by Dan Caplinger of The Motley Fool.
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