With inflation undermining the income of all Americans, the government on Friday night announced a 14.5% increase in the premiums for Medicare. As reported in CNN: “The Centers for Medicare and Medicaid Services played down the spike, pointing out that most beneficiaries also collect Social Security benefits and will see a cost-of-living adjustment of 5.9% in their 2022 monthly payments, the agency said in a statement. That’s the largest bump in 30 years.”
So, the huge rise in premiums, they say, is no problem, since it will be paid by the money which was intended to overcome the inflationary spike! For those in the lower ranks of Medicare, the premium rise will cost more than the rise in Social Security, thus further reducing their living standard.
