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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>The centers for Medicare and Medicaid services and Social Security have released updates for 2023.<o:p></o:p></p><p class=MsoNormal>Good news for the first time in ten years there will not be an increase in the standard Medicare premium, in fact it will decrease.<o:p></o:p></p><p class=MsoNormal>Currently the premium is $170.10 in 2023 it will go down to $164.90 or a decrease of $5.20.<o:p></o:p></p><p class=MsoNormal>Also, for those paying for prescription drug, Part D, in most cases the premium will also likely decrease <o:p></o:p></p><p class=MsoNormal>Social Security checks will increase by 8.7%.<o:p></o:p></p><p class=MsoNormal>SSI for individuals will go from $841 to $914 and couples from$1,261 up to $1,371.<o:p></o:p></p><p class=MsoNormal>SGA for blind recipients will go from $2,260 to $2,460 a month.<o:p></o:p></p><p class=MsoNormal>For non-blind SGA will go from $1,350 to $1,470.<o:p></o:p></p><p class=MsoNormal>Trial work period month will be counted for earnings exceeding 1,050.<o:p></o:p></p><p class=MsoNormal>The only negative news for most of us is that to earn a quarter of coverage toward being eligible for Disabillty benefits in 2023 you need to earn $16,640 which is up from $1,510. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>If you want to figure your 2023 check amount follow the steps below.<o:p></o:p></p><p class=MsoNormal>Note: due to Social Security rounding rules the amount you calculate maybe a couple of dollars different than what you figure.<o:p></o:p></p><p class=MsoNormal>Add your current check amount together with the current Medicare premium of $170.10<o:p></o:p></p><p class=MsoNormal>Then multiply that figure by 1.087<o:p></o:p></p><p class=MsoNormal>Next, subtract the new Medicare premium of $164.90 <o:p></o:p></p><p class=MsoNormal>Finally discard any cents and you have a reasonable estimate of your new amount.<o:p></o:p></p><p class=MsoNormal>Here is an example.<o:p></o:p></p><p class=MsoNormal>Betty Lou’s 2022 check is $1,201 <o:p></o:p></p><p class=MsoNormal>Add her premium of $170.10 getting 1,371.10<o:p></o:p></p><p class=MsoNormal>Multiply $1,371.10 by 1.087 to get $1,490.38<o:p></o:p></p><p class=MsoNormal>From 1,490.38 subtract $164.90 giving a result of $1,325.48Discarding the pennies gives Betty Lou an estimated check of $1,325.00<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Hope this is informative<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p></div></body></html>