Press Releases

Changes in Medicare premium small, meaning most seniors will see a nearly $40 increase in their monthly Social Security check

Congresswoman Chellie Pingree said today that, in most cases, Social Security recipients will keep almost all of a cost-of-living-adjustment (COLA) increase announced earlier this month. Combining the 3.6 percent COLA with a $3.50 Medicare increase will mean that the average monthly retirement benefit check would be about $39 more than this year.

"This is great news. Social Security recipients waited far too long for a cost-of-living increase. Thankfully, they won't have to give it up to an increase in Medicare premiums," Pingree said. "With the cost of food, medicine and home heating oil continuing to climb over the last few years, Maine seniors find a Social Security check just isn't going as far as it used to."

Federal officials announced today that Medicare Part B premiums for the next year would be $99.90 per month. Most Medicare recipients will have to pay an estimated increase of $3.50 per month in additional premiums, but those who started receiving benefits over the last two years and have been paying $110-$115 a month will actually see a decrease in premiums of $10-$15 per month.

Last week Pingree praised a Social Security cost-of-living increase of 3.6 percent, the first raise in two years. For the average Social Security retirement benefit check, that would be an estimated $1,219 each month, compared to $1,177 this year—an increase of about $42 per month.

Pingree has advocated for higher cost-of-living-increases for Social Security recipients and supports tying COLAs to a different CPI that more closely reflect costs for seniors—such as heating fuel and medication.