Originally Posted by Youngster
Thank you for the extremely informative response. Per my understanding then, the premium would go down to around $120.70 on 1/1/17 if there is a COLA for 2017, right? What happens if there is again no COLA for 2017?
You're welcome. Yes, the premium would be ~$120.70 if there is a COLA for 2017. If there is no 2017 COLA, beneficiaries would fall into one of three categories:
1. You paid ~$159 during 2016 but became eligible for 2017 hold harmless so you continue to pay the same ~$159 during 2017. Your spouse falls into this category.
2. You paid the hold harmless rate of $104.90 in 2016 and continue to pay that rate in 2017.
3. You are not eligible for the 2017 hold harmless provision and pay something north of ~$159 during 2017.
The SSA currently estimates a 3.1% COLA for 2017.
Originally Posted by Peter
I'm 68 but have delayed taking SS. Also currently on spouse's company health insurance.
If I was to sign up for SS and Medicare, both starting December 2015, would that qualify me for the hold harmless provision?
Starting in December, 2015 would be too late. You would need to enroll in SS and Medicare early enough to receive services in November, 2015 and receive the corresponding SS payment (with Part B withheld) during December. Remember that the Part B increase is a temporary "spike" and not permanent.