Let's play Medicare Trivial Pursuit: who has seen the "hold harmless rule" for Part B premiums?

[yorkriver1]

A question came to me from someone who read the rule and was questioning their decision to wait on drawing Social Security. My reading of the rule, now that I just found out about it, is it only applies with lower incomes and not to most people:
"people with Medicare will pay the new premium amount because the increase in their benefit amount will cover the increase. However, a small number of people will see little or no increase in their Part B premium — and their Social Security benefit checks will remain the same — because the amount of their cost-of-living adjustment isn’t large enough to cover the increase."
I don't know anyone who had the hold harmless rule applied.
Anyone had an example of that?
Note: not a math genius

 

[somarco]

Can't say I have run across hold harmless with regard to SSA and Part B but there is this. . . .



The standard Part B premium for 2024 is $174.70 to $594.00 per month depending on your income. However, some people may pay less than this amount because of the “hold harmless” rule. The rule states that the Part B premium may not increase more than the Social Security Cost of Living Adjustment (COLA) increase in any given year. In short, this provision prevents your Social Security checks from declining year-over-year and caps Medicare Part B premium increases to be no more than the amount of your COLA.2

For people who are not “held harmless” the Part B premiums can increase as much as necessary until the standard rate is reached for the given year. You will have to pay this increased amount if any one of the following applies to you:

You are new to Medicare
You don’t get Social Security benefits
You pay higher premiums due to having a higher income

The truth about Medicare Part B premiums

You probably know that your Medicare Part B premium can change each year. Learn why this happens and how it is calculated

www.uhc.com

 

[Chazm]

We’ve had it happen 2 or 3 times in the early 2010’s. I had some clients paying $104.90, some paying around $110-115 and a 3rd group paying $120ish.
But, it also may have been just twice. There was no cost of living adjustment or very small.

 

[yorkriver1]

We’ve had it happen 2 or 3 times in the early 2010’s. I had some clients paying $104.90, some paying around $110-115 and a 3rd group paying $120ish.
But, it also may have been just twice. There was no cost of living adjustment or very small.

Thanks!
Was the rule that doesn't allow an increase in the Part B premium without a COLA increase for Social Security payments in place in the early 2010's? If that rule would reduce the likelihood of a hold harmless exception to the Part B increase.

 

[Chazm]

Thanks!
Was the rule that doesn't allow an increase in the Part B premium without a COLA increase for Social Security payments in place in the early 2010's? If that rule would reduce the likelihood of a hold harmless exception to the Part B increase.

From what I always looked at is was, if you’re collecting SS, your part b premium increase can’t be higher than your COLA. It’s been around as long as I’ve been in the biz at least.