Tue Nov 12 13:10:00 UTC 2024: ## Medicare Part B Premiums to Rise in 2025, Impacting Seniors’ Budgets
**WASHINGTON, D.C. -** Seniors will face another increase in Medicare Part B premiums in 2025, according to the Centers for Medicare and Medicaid Services (CMS). The standard monthly premium for Part B enrollees will jump by $10.30 to $185.00, up from $174.70 this year.
This increase outpaces both inflation and the Social Security cost-of-living adjustment (COLA) for next year. While most Social Security recipients will have benefits sufficient to cover the increase, individuals paying higher premiums due to income may struggle, warns Mary Johnson, an independent Social Security and Medicare policy analyst.
The jump in premiums is primarily attributed to rising projected costs and usage within the program. This trend has been ongoing for years, with Part B premiums growing at a faster rate than COLA since 2005.
The annual deductible for Medicare Part B will also increase to $257 from $240 in 2024.
**Impact on Seniors:**
These rising costs have put a strain on many seniors’ budgets, particularly those with higher incomes who pay additional premiums under the Income-Related Monthly Adjustment Amount (IRMAA) program.
“When Part B premiums grow at a faster rate than Social Security COLAs, premium costs consume a growing portion of monthly Social Security checks,” said Johnson.
**Medicare Part A Changes:**
The inpatient hospital deductible for Medicare Part A will also increase in 2025, rising $44 to $1,676. For individuals who haven’t worked long enough to qualify for premium-free Part A, the monthly premium will be $518, an increase of $13 from 2024.
**Moving Forward:**
The new premiums for Part B will be automatically deducted from Social Security checks for beneficiaries in January 2025. Individuals not receiving Social Security will need to ensure they are paying the new higher amount starting in January.
This news underscores the ongoing challenge of balancing rising healthcare costs with the financial needs of seniors. As Medicare premiums continue to increase, policymakers will need to consider solutions to mitigate the impact on senior citizens’ budgets.
First Piper 