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That said, roughly 30 percent of beneficiaries are not protected by the provision, and they can be subject to substantial spikes in the Part B premiums. In the past, the costs of the unpaid portion of Medicare Part B premiums of those who were protected by hold harmless were shifted to those who were not protected by the provision. Because fewer people were covering the costs Medicare Part B premiums, increases were significantly higher than usual..According to a recent nation-wide survey conducted by The Senior Citizens League, almost one-third of older taxpayers, 30 percent, say they itemize deductions for healthcare costs, and about 56 percent say that a portion of their Social Security benefits are taxable. "Taxpayers who may be postponing needed medical or dental services, getting glasses, or filling expensive prescriptions may want to consider doing so before the end of the year, in order to maximum the medical expense deduction in 2018," Johnson says..If signed into law, the Protecting and Preserving Social Security Act would amend title II of the Social Security Act to calculate cost-of-living adjustments based on the Consumer Price Index for Elderly Consumers. It would also amend the Internal Revenue Code to gradually eliminate the cap on income subject to the payroll tax..Thankfully, those covered under Medicare are not as susceptible to this, although it can still happen, even when it comes to such things as dental care. Hoyer said it's "possible" the House could act on surprise billing legislation before May although he didn't definitely commit to it..Key Bill Gains Support.Compare that to retiring early at age 6She'll lose ,437 in Social Security income. Her starting benefit will be permanently reduced by 25% to ,225, and even with receiving benefits over more years she'll receive only 3,228 over the course of her retirement. Her final benefit would be ,438..I set the glasses back down on the window ledge, fill a container with water and suddenly spot the TV remote..TSCL believes Congress will need to make some difficult spending cut decisions, and soon, in order to find the savings needed to address Medicare shortfalls, while ensuring access to doctors and adequate Medicare coverage without reducing benefits. Notch Babies who turn 85 to 94 this year are hit particularly hard because they are at the age when they are more likely to have chronic health conditions that require costly treatment..We are interested in hearing from our readers to learn what you think about the new Medicaid expansion. Are you benefiting from the new rules? Should there be tighter asset restrictions? Send us an email at [email protected]