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Government announces surprising hike in Medicare Part B premiums

·3 min read
Government announces surprising hike in Medicare Part B premiums

As I was extolling the virtues of Social Security’s 5.9% COLA, the Centers for Medicare and Medicaid Services (CMS) announced that they were increasing the premium for Medicare Part B by 14.5%. As a reminder, Medicare is composed of two programs. Part A, Hospital Insurance (HI), which covers inpatient hospital services, skilled nursing facilities, home healthcare, and hospice care.