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The “Hold Harmless” provision and Medicare premium increases
As most who collect Social Security know, their Medicare Part B premium is automatically deducted from their Social Security payment. And with all the news about a COLA increase in 2018, little has yet been said about any potential increase in Medicare premiums due to rising healthcare costs. The good news for those on both Medicare and Social Security is that a “hold harmless” provision stipulates that a beneficiary’s Social Security benefit can not go down because of an increase in Medicare premiums. Of course that is good on the surface, but it could also mean that the COLA increase in 2018 will be used to offset any Medicare premium increase, resulting in no net change in your Social Security payment. This PBS News Hour article by columnist Philip Moeller explains the sometimes convoluted rules of the “hold harmless” provision and how you might be affected. Click here to read more.
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