The Social Security Administration (SSA) has announced that Social Security and SSI beneficiaries will receive a 1.7% cost-of-living adjustment (COLA) for 2015.
The Centers for Medicare and Medicaid Services (CMS) has also announced next year’s Medicare costs. The standard monthly Medicare Part B premium will be $104.90 in 2015, the same as in 2014. However beneficiaries with higher incomes (individuals with taxable incomes of more than $85,000 and couples with taxable income of more than $170,000) will pay more than $104.90 per month because they must pay an income related surcharge.
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