The cost of Medicare is, once again, on the rise. The federal government recently announced there would be no increase to Social Security, meaning many of those receiving Medicare will have to pay higher premiums, according to Newsmax. In some cases, seniors will have to pay up to 50 percent more.
It's estimated that about 15 million American seniors will be affected by this price hike, according to Inquisitr.
All hope is not lost, however.
Only Medicare Part B recipients will be affected by the rising costs, according to the Huffington Post. If your Part B premiums are automatically deducted from your Social Security, you're in the clear.
But that still leaves 30 percent of the general public pulling the short stick. This also includes every new person enrolled in Medicare in 2016.
And, unfortunately, as 70 percent of Medicare recipients are women, they'll be affected most by the rising costs, according to Inquisitr.
This is the largest increase in the cost of Medicare in America's history, according to Newsmax. And this is due to the fact that Social Security payroll taxes will remain at $118,500 in 2016.
This is the third time in 40 years that Social Security taxes have remained stagnant, and all three instances have occurred since 2010, according to Newsmax.
