Medicare premiums rise for 2025, nicking retirees' Social Security checks

Published On Nov 23, 2024, 11:51 AM

In 2025, Medicare premiums will increase, impacting retirees' Social Security checks. The monthly Part B premiums will rise from $174.70 to $185, and the annual deductible will rise to $257. While Social Security benefits will see a 2.5% cost-of-living adjustment, which adds about $50 to the average benefit of $1,900, the increase in Medicare costs will effectively curtail the benefits for many seniors, especially those with lower incomes. This situation could lead some retirees to feel a financial squeeze as their healthcare costs consume a larger share of their limited income.