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Kiplinger
Kiplinger
Business
Donna LeValley

The Social Security Fairness Act May Change How You Pay Medicare Premiums

Medicare Health Insurance Card. Social Security Card with Stethoscope and pen.

If your Social Security check is increasing due to the Social Security Fairness Act, how you pay for your Medicare premiums may change. Most people have their Medicare Part B medical insurance premium deducted automatically from their Social Security benefit payment, unless the check is too small to cover the costs.

Public sector employees whose Social Security benefits were previously reduced by the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) may not have had a large enough check to cover the Medicare Part B and Part D premiums, and may have paid part or all of their Medicare premiums directly. The increase in their monthly benefit may upend this arrangement and require action to cancel or alter current automatic payment arrangements.

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