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OPERS asks Congress to fix Medicare premium increase

Posted Nov. 16, 2016 by

Recently, the Ohio Public Employee Retirement System (OPERS) drafted a letter to the Ohio Congressional delegation asking for a solution to a proposed increase to Medicare Part B premiums.

According to OPERS, Social Security recipients are held harmless from paying increased premiums when there is no increase or very little increase in the Cost of Living Adjustment or COLA. Beginning in 2017, Social Security recipients received just a 0.3 percent COLA, which will trigger the “hold harmless” provision.

However, many OPERS retirees, including OCSEA members, do not receive Social Security benefits and are not eligible to be "held harmless." These 30 percent of Medicare recipients then have the burden of paying 100 percent of the proposed increase, which can be significant. Last year, OPERS members were faced with a 52 percent increase in Medicare Bart B premiums, before Congress intervened with a temporary solution. This year, the premium increase will be 22 percent.

The letter, signed by Karen Carraher, Executive Director for OPERS, asks the Ohio Congressional delegation to intervene with a solution that holds harmless these other affected OPERS members.

Download the letter HERE.