Social Security and Medicare premiums, taxes, and cost-of-living adjustments (COLAs) can be confusing. And adding to the complexity are those years affected by the hold-harmless rule which can make it that much more difficult.
To help simplify things for you, we’ve attached a 2020 Social Security and Medicare reference guide to this article. This guide summarizes the annual Social Security and Medicare premiums for 2020 and summarizes the hold harmless rule on one convenient reference guide.
You can use this reference guide to determine your Social Security full retirement age and what your maximum benefits are. You can also see the cost-of-living adjustments (COLAs) percentage increases over the years. You can also see how the "hold harmless rule" protects Social Security recipients from increasing Medicare premiums. Click here for the 2020 Social Security and Medicare Guide