The nascent budget talks between Congress and the White House over how to fund the government, raise the debt ceiling and pay for highway construction just got more complicated.
The Social Security Administration's announcement Thursday that benefits will not increase in 2016 means that retirees will not have extra income to pay for anticipated increases in Medicare Part B premiums and higher deductibles. Medicare Part B covers non-hospital services like ambulance rides, medical supplies and preventive care. While 70% of Medicare beneficiaries are protected by law from premium increases, that still leaves millions of seniors facing higher costs, with increases that are expected to jump as much as 50%.
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