WASHINGTON (AP) — That didn't last long. About 55 million Social Security recipients will get their first increase in benefits next year since 2009 — a 3.6 percent raise. But higher Medicare premiums could erase part of it.
For some, higher Medicare Part B premiums could wipe out as much as a fourth of their raise from Social Security, according to projections by the trustees who oversee the programs.
Medicare is expected to announce 2012 Part B premiums as early as next week. The premiums, which cover doctor visits, are deducted automatically from monthly Social Security payments.
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