Next year, Medicare costs will be reduced for millions of Americans.

Washington, D.C. Americans will pay lower monthly rates for Medicare's Part B coverage, which covers basic doctor visits and other outpatient treatment, for the first time in ten years in 2019.

Millions of people will get hundreds of dollars in benefits as a result of the unusual 3% reduction in monthly premiums,

which is expected to be combined with a historically large cost-of-living rise in Social Security payments, possibly of 9% or 10%.

According to Mary Johnson, The Senior Citizens League's social security and medicare policy expert, "that's something we may never see again in the rest of our lives." 

Because consumers can't afford to buy as much now as they could a year ago, "it can truly be used to pay off credit cards, to refill cupboards that have grown empty, 

Following a challenging year of high inflation and a sharp increase in premiums this year, millions of Medicare beneficiaries will see a reduction in their monthly costs starting in 2023.

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