Medicare Hold Harmless Provision

What is a 'Medicare Hold Harmless Provision'

A medicare hold harmless provision is a legal statement prohibiting an increase to Medicare B premiums for the vast majority of American citizens. The Medicare hold harmless provision ensures that Medicare B premiums can not rise more than the previous year's cost of living increase in Social Security benefits.

BREAKING DOWN 'Medicare Hold Harmless Provision'

The beneficiaries who are not protected from rising premiums by the hold harmless provision will likely see their part B premiums rise, since they (A) Did not have part B premiums deducted for their Social Security distributions, (B) paid a higher part B premium surcharge based on their higher income or (C) were newly enrolled in Medicare part B.

RELATED TERMS
  1. Medicare Part B Premiums

    A monthly fee that Medicare participants pay for medical insurance ...
  2. Medicare Advantage

    Hospital and medical insurance provided by private companies ...
  3. Medicare Wages

    An employee's earnings that are subject to a U.S. payroll tax ...
  4. Medicare Supplementary Medical ...

    Health insurance sold by private insurance companies meant to ...
  5. Hold Harmless Clause

    A statement in a legal contract stating that an individual or ...
  6. Medicare Part D

    A prescription drug benefit program that was created through ...
Related Articles
  1. Retirement

    The High Net Worth Guide to Medicare

    In the years ahead, wealthy seniors will pick up an even bigger part of the Medicare tab. However, there are ways to minimize the bill.
  2. Retirement

    No COLA Reduces Buying Power of Retirees

    The lack of a Social Security cost-of-living adjustment next year will result in higher costs for retirees, with some affected more than others.
  3. Financial Advisor

    Breaking Down Medicare Open Enrollment for Clients

    For financial advisors, open enrollment is an important opportunity to be of service to clients, especially when it comes to reviewing Medicare options.
  4. Retirement

    Have Medicare? Which Employer Health Plan to Get

    Over 65 and still working? You're eligible to register for Medicare, but should you also opt for employer health insurance, if offered – and which plan?
  5. Financial Advisor

    How to Help Clients Navigate Medicare Enrollment

    Here's how financial advisors can be an essential guide in helping clients navigate the murky Medicare sign up waters.
  6. Personal Finance

    Medicare 101: Do You Need All 4 Parts?

    Medicare is the United States’ health insurance program for those over age 65. Medicare has four parts, but you might not need them all.
  7. Retirement

    Planning for Healthcare

    Planning how to pay for healthcare during retirement is a must—and the earlier you do it, the better. Medicare often fall short, so here are your options.
  8. Retirement

    Navigating the Medicare Maze

    After a certain age, it might seem like birthdays lose a little of their luster. But with your 65th birthday comes something that a lot of seniors look forward to: insurance coverage through ...
  9. Financial Advisor

    How to Manage Lower Social Security Adjustments

    Here's how financial advisors can help clients cope with low or no cost-of-living Social Security increases.
  10. Retirement

    4 Myths You Don’t Know About Medicare

    Here are four common misconceptions about Medicare, the federal government’s health insurance program for people who are 65 and older or disabled.
RELATED FAQS
  1. Can I deduct Social Security and Medicare taxes paid on my 2015 tax return?

    I am 73 years old, retired, and receiving social security. I earned $2,025 in 2015 as a substitute teacher.  $126 in ... Read Answer >>
  2. Can my wife receive spousal benefits and Medicare (based on my earnings) when I file ...

    I will take Social Security at age 63 due to medical issues. My wife, 66, does not have enough credits for SS or Medicare.  ... Read Answer >>
  3. Can I get dental insurance with Medicare?

    Learn about Medicare and how it does not offer dental insurance and only covers specific dental procedures under certain ... Read Answer >>
  4. What effect has the sustainable growth rate had on Medicare disbursements?

    Read about the impact of the Medicare sustainable growth rate mechanism on rising Medicare costs and physician reimbursements ... Read Answer >>
  5. Why did my Social Security benefits decrease?

    I am now 80 years old and I retired at 70.  For years, my social security benefits have increased somewhat. I would ... Read Answer >>
  6. Does Medicare provide assistance for patients unable to perform Activities of Daily ...

    Find out how Medicare provides some benefits, both direct and indirect, for those who are unable to perform some of the activities ... Read Answer >>
Hot Definitions
  1. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  2. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  3. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  4. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  5. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  6. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
Trading Center