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 Advantage

    Hospital and medical insurance provided by private companies ...
  2. Medicare Supplementary Medical ...

    Health insurance sold by private insurance companies meant to ...
  3. Guaranteed Issue Rights

    A right afforded to individuals insured under Medicare that requires ...
  4. Medicare Catastrophic Coverage ...

    A government bill designed to improve acute care benefits for ...
  5. U.S. Centers for Medicare and Medicaid ...

    The federal agency that administers the nation’s major healthcare ...
  6. Federal Insurance Contributions ...

    A U.S. law requiring a deduction from paychecks and income that ...
Related Articles
  1. Retirement

    Medicare Costs to Rise for Most in 2017

    Most senior citizens will see their Medicare expenses rise in 2017.
  2. Managing Wealth

    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.
  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. Managing Wealth

    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. 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.
  6. Retirement

    Medicare Open Enrollment: What 2017 Will Cost You

    Medicare Open Enrollment is officially underway and the choices seniors make now could have an impact on their long-term retirement outlook.
  7. 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.
  8. Insurance

    Medicare Enrollment Part 2: The Right Path for You

    Medicare and Medicare Advantage both have benefits and pitfalls. Here are some things to consider.
  9. Retirement

    Medicare 101: Do You Need All 4 Parts?

    At age 65, most people have to sign up for Medicare. Learn which of its four programs are mandatory – and which you can skip.
Hot Definitions
  1. Bond

    A bond is a fixed income investment in which an investor loans money to an entity (corporate or governmental) that borrows ...
  2. Whole Life Insurance Policy

    A life insurance contract with level premiums that has both an insurance and an investment component. The insurance component ...
  3. Compound Annual Growth Rate - CAGR

    The Compound Annual Growth Rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer ...
  4. Capital Asset Pricing Model - CAPM

    A model that describes the relationship between risk and expected return and that is used in the pricing of risky securities. ...
  5. Internal Rate Of Return - IRR

    A metric used in capital budgeting measuring the profitability of potential investments.
  6. Current Ratio

    The current ratio is a liquidity ratio that measures a company's ability to pay short-term and long-term obligations.
Trading Center