Page 36 - January 2021 Issue.indd

care expenses in 2021. Granted, there is conditions is dramatically upping the
a small percentage of very low-income cost of care. It is why Medicare is
folks who will be “held harmless” from subcontracting out coverage to the
Spot COLA increase not being large enough bombarded the public with advertising
Advantage health care systems that
Senior premium hikes. Th is is due to their 2021
during Open Enrollment… you got to
to cover the increased “B” premium of
$148.50. Social Security was established see it despite the fact that it does not
to protect those who worked hard all
Senior Moments their lives but were unable to bank
retirement funds… they need “Hold
by Mary Moran Harmless” to protect them.
The Social Security Act’s “Hold
410-479-2535
Harmless” Laws state that COLA must
keep pace with Medicare premiums

Happy New Year! This is the one where to protect beneficiary Social Security
a comfortable chair and exceptionally incomes. This law forced Congress to
large beverage is in order, folks! Despite give a cash infusion to Medicare this past ASSISTED LIVING FACILITY
the hype coming out of DC the cost fall, or the cost of Medicare premiums
of Medicare and prescription drugs would have skyrocketed. During the ĂŝůLJ ĐƟǀŝƟĞƐ
have not gone down and those without 2020 election season, Congress managed RN on Call
supplemental insurance or low income to pass legislation that limited any part ,ŽŵĞ ŽŽŬĞĚ DĞĂůƐ͕
Medicare Savings Plans are going to “B” increase to 25% of what it would ^ŶĂĐŬƐ Θ ĞǀĞƌĂŐĞƐ
feel the bite. Here is what we are facing have been. This is a temporary reprieve >ĂƵŶĚƌLJ Θ ,ŽƵƐĞŬĞĞƉŝŶŐ

for 2021. from what is coming down the pike at >ŝĐĞŶƐĞĚ ƚŽ WƌŽǀŝĚĞ
us, folks. ĂƌĞ ĨŽƌ >ĞǀĞůƐ ϭ͕Ϯ͕ϯ
The Social Security COLA (Cost of
Living Adjustment) raise for 2021 is The growth of Medicare premiums is DĞŵŽƌLJ ĂƌĞ
1.3%. Let’s use an example of what this based on specific bean counter measures ^ƉĞĐŝĂů ŝĞƚ Θ ŝŶŝŶŐ ƐƐŝƐƚĂŶĐĞ

means to a single beneficiary whose used to determine the program’s WŽƐƚͲƌĞŚĂďŝůŝƚĂƟŽŶ WĂƌƚŶĞƌƐŚŝƉƐ
monthly gross check is $1,503. Th e 1.3% spending for covered medical services. ǁŝƚŚ ŽĐƚŽƌƐ ĂŶĚ dŚĞƌĂƉŝƐƚƐ
increase equals $19.54 per month or Covid has thrown a monkey wrench into ĂŶĚ ŵƵĐŚ ŵŽƌĞ͘͘͘
$234.48 per year to that individual’s this National program that was already www.arcadia-living.com
income. A couple, with a gross income getting slammed by the number of Baby
of $2,563 per month, will only see that Boomers entering Medicare, many of Arcadia of Denton
monthly amount increase by $33.00 whom are not as healthy as we hoped 701 S. 5th Ave
per month to $2,596, adding $396.00 to be in our later years! The fact is, the (Formerly Gables at Caroline)

per year to the household income. number of Aging Boomers with chronic Come Home to Arcadia
Now, the bean counters who created
this method, obviously do not live on a

fixed income, are unmarried, and dwell
in a city bubble, yet continue to base TURNING 65?
this cost-of-living adjustment to Social
Security benefi ciaries on an antiquated Confused about all the Medicare Terms & Options?
analysis system. How can all Americans Let Me Help You!
who paid hard earned taxes into this
program for a lifetime rely on the
“Consumer Price Index- Urban Wage
Earners and Clerical Workers”? which Anthony Insurance Services
is supposed to give a general measure of Ann M. Anthony
annual inflation? The resulting COLA

adjustment is supposed to protect the
buying power of Social Security benefi ts Specializing in Medicare Supplemental Plans,
despite the rising cost of Medicare. Medicare Advantage Plans, Medicare Part-D Plans,
Unfortunately, this years “raise” does not

appear to be sufficient to keep up with Dental and Vision, Long Term Care, and Life Insurance
the reality of retiree’s living and health Call Ann Today for an Appointment 410-708-0899 • anthonyins17@gmail.com
22850 Fleming Road, Denton, MD 21629
36