Social Security benefits go up, Medicare premiums stay the same
Seniors will be happy to note that their Social Security benefits will increase 5.8 percent starting in January, the highest annual cost-of-living adjustment since 1982. The boost comes in response to higher prices for food and energy.
The increase will mean about $60 extra for seniors nationwide. The 786,000 Marylanders receiving Social Security benefits on average as of December 2007 received about $1,020 a month, according to the Social Security Administration.
But a reader called with a question I'd like to answer in case others were wondering, too: what about Medicare premiums for 2009?
It turns out that although Social Security benefits are rising ...
... monthly Medicare premiums for physician services will remain the same, at $96.40 per month --- as long as your income is less than $85,000 (single) or $170,000 (married couple). The Associated Press reports that the prices remain the same because of growth in the Medicare Part B trust fund.
Here's a breakdown of 2009 Medicare premiums no matter what category you fall into.
