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Here are big changes retirees can expect from Social Security and Medicare in 2025

The article from MSN outlines several significant changes that retirees can expect from Social Security and Medicare in 2025. Social Security beneficiaries might see a cost-of-living adjustment (COLA) based on inflation rates, potentially increasing their monthly benefits. However, there's also a possibility of benefit cuts if the Social Security trust fund faces insolvency, which could mean a reduction in benefits by about 20% if Congress does not act. On the Medicare front, changes include adjustments to premiums, deductibles, and co-payments, with Part B premiums expected to rise. Additionally, there will be enhancements in coverage for mental health services and telehealth, reflecting a shift towards more comprehensive care. There's also a focus on reducing out-of-pocket costs for certain medications, particularly for chronic conditions, and efforts to curb fraud, waste, and abuse within the Medicare system. These changes aim to balance the financial sustainability of these programs with the need to provide adequate support for retirees.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/here-are-big-changes-retirees-can-expect-from-social-security-and-medicare-in-2025/ar-AA1wXCUy ]