Page 18 THE SAUGUS ADVOCATE – WEDnESDAy, nOVEmbEr 27, 2024 Saugus Birthday Celebrations Say nior Say nr Sa y Senior Senio by Jim Miller What You’ll Pay for Medicare in 2025 Dear Savvy Senior, I know there will be a small 2.5 percent cost-of-living increase in Social Security benefi ts next year, but what about Medicare? What will the Medicare Part B monthly premiums be in 2025, and when do the surcharges kick in for higher income benefi ciaries? Medicare Benefi ciary Dear Benefi ciary, The Centers for Medicare and NOVEMBER 2024 BIRTHDAYS: The Senior Center celebrated the collective birthdays of 16 Saugonians for the month on Nov. 22. Front row, left to right: Donna Zinna & Dale Hendry; Second row, left to right: Adel Penkul, Judy Worthley, Diane Coelyn, Charlie Hickey, Karen Lorentz, Bob Teal, Vinny Zinna, Jerry Foster, & Carol Drake; Back row, left to right: Glen Davis, Gene Decareau, Patti Cuddemi, Gail Sarno, & Nancy Nunez. (Courtesy photo to The Saugus Advocate) O nce again the Senior Center held its monthly birthday celebration on Friday Nov. 22nd, celebrating the special days of 16 Saugus residents. Each month SOUNDS | FROM PAGE 17 zoo, rides and amusements for kids, a DJ to play songs and hot The Senior Center likes to recognize the Senior’s birthday with a collective birthday celebration. Each birthday recipient receives a free pizza lunch, cake, ice cream and a chocolate to go with cookies (while they last) are the more popular highlights of this special night, which draws hunRON’S OIL Call For PRICE MELROSE, MA 02176 NEW CUSTOMER’S WELCOME ACCEPTING VISA, MASTERCARD & DISCOVER (781) 397-1930 OR (781) 662-8884 100 GALLON MINIMUM souvenir group photo. to take home. Anyone that would like to attend a birthday celebration at the Senior Center must sign up and get their ticket in advance. dreds of people – town residents, former Saugonians and folks from neighboring communities – in one of the most popular community events of the year. Stay tuned for more details. Lions Club continues toy drop-off The Saugus Lions Club organized a toy drop-off to support the Saugus Fire Department’s Annual Toy Drive – through Dec. 7 at Webster First FederTHE SOUNDS | SEE PAGE 19 Medicaid Services recently announced their cost adjustments for 2025 and the increases for premiums and out-of-pocket costs for most benefi ciaries will be moderate. But if you’re a high earner, you’ll pay significantly more. Here’s what you can expect to pay in 2025. Part B Premium While Medicare Part A, which pays for hospital care, is premium-free for most beneficiaries, Part B, which covers doctor visits and outpatient services does have a monthly premium. Starting in January, the standard monthly Part B premium will be $185, up from $174.70 in 2024. That $10.30 bump represents a 5.9 percent increase, which is more than double the most recent Social Security costof-living adjustment which was 2.5 percent. But if you’re a high earning benefi ciary, which makes up about 8 percent of all Medicare recipients, you’ll have to pay more. Medicare surcharges for high earners, known as the income-related monthly adjustment amount (or IRMAA), are based on adjusted gross income (AGI) from two years earlier, which means that your 2025 Part B premiums are determined by your 2023 AGI, which is on line 11 of the IRS tax form 1040. Here’s how it breaks down. If your 2023 income was above $106,000 up to $133,000 ($212,000 up to $266,000 for married couples filing jointly), your 2025 Part B monthly premium will be $259. Monthly Part B premiums for singles with an income between $133,000 and $167,000 ($266,000 and $334,000 for joint fi lers) will rise to $370. Individuals earning above $167,000 up to $200,000 ($334,000 to $400,000 for joint fi lers) will see their monthly Part B premium increase to $480.90. Those with incomes above $200,000 up to $500,000 ($400,000 to $750,000 for joint fi lers), will pay $591.90 per month in 2025. And single filers with income of $500,000 or more ($750,000 or more for joint fi lers) will pay $628.90 per month. Part D Premium If you have a stand-alone Medicare (Part D) prescription drug plan, the average premium in 2025 will be $46.50 per month for most beneficiaries, down from $53.95 in 2024. But again, for high earners with annual incomes above $106,000 ($212,000 for joint fi lers) you’ll pay a monthly surcharge of $13.70 to $85.80 (based on your income level) on top of your regular Part D premiums. How to Contest Income Benefi ciaries that fall into any of the high-income categories and have experienced certain life-changing events that have reduced their income since 2023, such as retirement, divorce or the death of a spouse, can contest the surcharge. For more information on how to do this, see “Medicare Premiums: Rules for Higher-Income Benefi ciaries” at SSA.gov/ benefi ts/medicare/medicare-premiums.html. Other Medicare Increases In addition to the Part B and Part D premium increases, there are other cost increases you should be aware of. For example, the annual deductible for Medicare Part B will be $257 in 2025, which is $17 more than the 2024 deductible of $240. And the deductible for Medicare Part A, which covers hospital services, will increase to $1,676 in 2025. That’s $44 more than the 2024 deductible of $1,632. There are no surcharges on Medicare deductibles for high earners. For more information on all the Medicare costs for 2025 visit Medicare.gov/basics/costs or call 800-633-4227. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. ior
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