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Manual Title Chapter Page Revision Date Virginia Medical Assistance Eligibility M03 April 2024 Subchapter Subject Page ending with Page M0320.000 AGED, BLIND & DISABLED GROUPS M0320.203 11

Note: There was no COLA in 2010, 2011 or 2016. The Cost-of-living calculation formula (The formula is the current Title II Benefit divided by the percentage increase to equal the benefit amount before the COLA change):

a. Current Title II Benefit = Benefit Before 1/24 COLA 3.2 (1/24 Increase)

b. Benefit Before 1/24 COLA = Benefit Before 1/23 COLA 8.7 (1/23 Increase)

c. Benefit Before 1/23 COLA = Benefit Before 1/22 COLA 1.059 (1/22 Increase)

d. Benefit Before 1/22 COLA = Benefit Before 1/21 COLA 1.013 (1/21 Increase)

5. Medicare Premiums a. Medicare Part B premium amounts:

1-1-24 $174.70 1-1-23 $164.90 1-1-22 $170.10 1-1-21 $148.50 1-1-20 $144.60 1-1-19 $135.50 Note: These figures are based on the individual becoming entitled to Medicare during the year listed. The individual’s actual Medicare Part B premium may differ depending on when he became entitled to Medicare. Verify the individual’s Medicare Part B premium in SVES or SOLQ-I if it is necessary to know the premium amount for Medicaid eligibility or post-eligibility purposes. b. Medicare Part A premium amount:

1-1-24 $505.00 1-1-23 $506.00 1-1-22 $499.00 1-1-21 $471.00 1-1-20 $458.00 1-1-19 $437.00 Contact a Medical Assistance Program Consultant for amounts for years prior to 2019. 6. Evaluation Individuals who are eligible when a cost-of-living increase is excluded are eligible.