If, as is likely, Medicare rate rises significantly in 2016, I was wondering whether the hold harmless SS provision would apply in the following situation.
Spouse to start collecting SS in early 2016, maybe as early as January 1, 2016. Spouse will be 65 next October (2016). Will the hold harmless provision apply to spouse so as to make Part B Medicare monthly premium the current amount of $104.90? Or, will the amount be the increased amount of around $150? We are in the under $170,000 joint filing amount.
Another related question here. If the amount is the increased amount of around $150, will that amount only be paid for the last 3 months of 2016, and if there is a COL increase for 2017, will the premium amount go down to around $110 per month?
Spouse to start collecting SS in early 2016, maybe as early as January 1, 2016. Spouse will be 65 next October (2016). Will the hold harmless provision apply to spouse so as to make Part B Medicare monthly premium the current amount of $104.90? Or, will the amount be the increased amount of around $150? We are in the under $170,000 joint filing amount.
Another related question here. If the amount is the increased amount of around $150, will that amount only be paid for the last 3 months of 2016, and if there is a COL increase for 2017, will the premium amount go down to around $110 per month?