Prepare for Medicare Part A and B price changes in 2017

If you’re eligible for Medicare or will be in the coming year, there are a few changes you should know about for 2017.

An increase in the Department of Labor’s Consumer Price Index (CPI) means there’ll be an increase in Social Security benefits and Medicare Part B premiums. For most recipients the increases almost offset each other, but those who aren’t covered by the “hold harmless” provision (about 30 percent of recipients) face a larger Part B premium increase.

These changes, along with several others, will go into effect soon and you should consider how they could affect your budget.

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