Here's a quick recap of the more important changes to your clients' retirement benefits this year (courtesy of Emily Brandon of US News and World Report):
No Social Security increase. Monthly Social Security checks for most beneficiaries will not increase in 2010.
Higher Medicare Part B premiums for some. Most current Social Security recipients will continue to pay $96.40 each month for Medicare Part B medical insurance, the same amount as in 2009. But for new enrollees, Medicare Part B monthly premiums will be $110.50, a 15 percent increase from 2009 prices.
Larger Medicare Part D premiums and out-of-pocket costs. The average monthly Part D premium will increase by 11 percent in 2010 if beneficiaries remain in their current plans, according to a recent analysis of 2010 plans by researchers at the Kaiser Family Foundation, Georgetown University, and the University of Chicago.
