Here's your Social Security increase, now give it back

If you’re one of the 45 million retired workers receiving Social Security, you’re going to get $23 more each month starting in January. But before you blow that windfall on a pair of beachfront bathtubs, check your wallet.

Medicare is going to claw $12 out of your bounty. That’s the average premium increase for Part B and Part D. 

That still leaves you with $11 extra each month, and that’s better than a poke in the eye with a sharp stick.

Unless you get poked in the eye with a sharp stick and need to see a doctor. Then another dollar each month will go to pay the increased Part B deductible.

If healthcare costs have you worried, I encourage you to find a good value-based care provider. 

Value-based healthcare providers focus on outcomes rather than activities and are rewarded for keeping their patients healthy. Contrast that rational approach with the perverse incentives in fee-for-service American healthcare where providers do more so they get paid more, and you’ll see why value-based providers are the ones transforming care.

Disclaimer: the amounts noted are averages based on information published at SSA.gov, kff.org, and Medicare.gov. This article is not an offer for benefits, insurance, or medical treatment. Beachfront bathtubs are for illustration only and are not recommended for bathing or recreational activities.