June 8, 2008 by admin

738. Rounding of Benefit Rates

738.1 Are benefit rates rounded?

Yes. Benefit rates must be rounded.

738.2 How are benefit rates rounded?

Calculations that are not a multiple of 10 cents are rounded to the next lower multiple of 10 cents. For example, $100.18 is rounded down to $100.10.

The monthly amount payable is rounded to the next lower multiple of $1 if it is not already a multiple of $1. For example, $100.70 is rounded down to $100.

If you are entitled to Medicare, the Part B premium is deducted before rounding the monthly benefit payable to the lower multiple of $1.

Last Revised: Oct. 31, 2003