I am 71, still working full time and covered under a large group plan. I began collection Social Security at age 70 but put off enrolling in Medicare. However, I decided to sign up for Medicare Part B, coverage to be effective 12/1/16. Since I signed up in 2016 (just barely) will I be included in the hold harmless COLA to be effective 1/1/17? I will have my Part B premium withheld from my social security payment in December, 2016. Everything I've read states those having Part B premium withheld from their social security payment will be included in the hold harmless agreement. The rhetoric I've seen is very confusing. It would seem that because I enrolled in 2016, I am subject to the $121.80 premium but I believe I should also be included in the hold harmless for enrolling before January, 2017. Unfortunately I cannot find anything that specifically states 2016 enrollees are held harmless from other than the 3.9% increase for 2017. Several calls to Social Security, after very lengthy hold times, have resulted in multiple, different replies, so I have no idea which is correct. The reason I enrolled in Part B was to avoid any additional future COLAs. I hope it wasn't an effort in futility because I most likely will only use the gym benefit. That's a $1461 plus annual gym membership! Was that a stupid financial decision?

Hi,

I can't say whether or not you made a good decision, since no one knows what the future may hold. Depending on your future medical costs, your Part B coverage may more than pay for itself even while the coverage is supplemental to your coverage through work. Or, it may not.

In any case, it sounds like you meet the requirements to be held harmless from the 2017 premium increase, at least to the extent that the .3% COLA to your monthly Social Security benefit doesn't cover the $12.20 increase in the monthly Part B premium. However, the hold harmless provision does not apply if your annual income is high enough to require a higher Part B premium payment. For more information on this provision, refer to the following link to the Medicare.gov website: https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html.

Best, Jerry