News

News Treasurer Goldberg Urges Reconsideration of Medicare Premium Costs

Treasurer Goldberg urges the Centers for Medicare & Medicaid Services to reconsider the Medicare premium cost decision for 2022. The significant increase will pose a substantial hardship to retirees, particularly those who live on fixed incomes.
1/27/2022
  • Office of State Treasurer and Receiver General Deborah B. Goldberg

January 2, 2022

Chiquita Brooks-LaSure, Administrator
Centers for Medicare & Medicaid Services
7500 Security Boulevard
Baltimore, MD 21244

Dear Ms. Brooks-LaSure,

I am writing in my capacity as Massachusetts State Treasurer & Receiver General and as Chair of the State Retirement Board to urge you to reconsider the Medicare premium cost decision for 2022.

The 2022 Medicare Parts A and B premiums, deductibles, and coinsurance amounts released in November 2011 represent a significant increase – more than 14% for the standard Part B premium and the Part B deductible for all Medicare beneficiaries. The cost will pose a substantial hardship to retirees, particularly those who live on fixed incomes.

Approximately 6.6 million state and governmental employees do not have Social Security coverage, according to the Congressional Research Service. These individuals will not benefit from the Social Security cost-of-living increase of 5.9% for 2022. Coupled with upward cost pressures on necessities such as transportation, groceries, and utilities, the impact of the Medicare increase on these retirees will be significant.

For these reasons, I urge you to reconsider the Medicare premium cost decision for 2022. Please let me know if you would like to discuss further.

Sincerely,

Deborah B. Goldberg
Treasurer & Receiver General

View the Treasurer's letter here

Office of State Treasurer and Receiver General Deborah B. Goldberg 

Our mission at the Office of the State Treasurer and Receiver General of Massachusetts is to prudently manage and safeguard the state's public deposits and investments through sound business practices for the exclusive benefits of our citizens, and perform these duties with integrity, excellence, and leadership.
Feedback