This afternoon Congressman John B. Larson (CT-01) praised an announcement from the Department of Health and Human Services (HHS) that Medicare Part B deductibles will be going down in 2012 and premiums will be lower than projected as good news for seniors.
According to HHS, Medicare Part B deductibles will decrease by $22 in 2012, while premiums will change from $96.40 to $99.90, an increase of only $3.50. The announced Social Security cost-of-living adjustment of 3.6 percent ($43 for the average beneficiary) will more than offset the cost of this slight increase, leaving seniors and individuals with disabilities with more money in their pockets to deal with ever-increasing expenses.
"This announcement is good news for seniors throughout Connecticut and the entire country," Congressman Larson said. "Coupled with last week's announcement of a Social Security COLA increase, seniors are seeing real relief at a time when gas and food prices continue to climb. For millions of seniors in this country, Medicare and Social Security are critical programs that they rely on a daily basis. We must continue to not only preserve them, but actively look to strengthen them as more and more Americans join the ranks of the retired."
There are currently 571,000 Medicare beneficiaries in Connecticut, with 118,000 residing in the First Congressional District.