Advantages of Paying for Part B from your Social Security
Individual health insurance premiums are extremely expensive once you hit your 50's and 60's.But don't expect it to be free and clear once you hit 65. In fact, Medicare Part B Premiums will rise for many people in 2018.
Based on some helpful information in this Fidelity article I estimate that if you were earning between $107k-$133k in 2016, then you'll be paying close to $500 month for all your various Medicare components in 2018 (Part B, Part D and a Part F Medi-Gap plan)
When you reach Medicare and Social Security age, you'll likely be weighing whether or not to take Social Security now or defer it so that you will get a greater social security benefit later. One more item to balance on the scale in this decision is the "Hold Harmless" provision. If you are paying your Medicare Part B premiums from your social security check, the premium cannot increase more than the annual COLA adjustment. If you are paying those premiums directly to Social Security, you will be subject to the entire premium increase.
It's not too late to save for your medical expenses in retirement. Did you know you can pay for your Medicare premiums (Part B, Part C/Medicare Advantage or Part D - but not Medi-Gap) with accrued health savings accounts funds?