topic Re: Hello For A Friend Please in Community Chat

Hello For A Friend Please

ILoveFragrance — Thu, 13 Jul 2017 23:13:29 GMT

asking did I hear the news about Social Security getting a raise? I was working today and I don't know anything about this. Has anyone heard? I will tell her or if you can tell me where to go and look for her I will. She is elderly. Thank you.

Re: Hello For A Friend Please

NicksmomESQ — Thu, 13 Jul 2017 23:46:21 GMT

You can look it up on the social security website or just google it.

Re: Hello For A Friend Please

sunshine45 — Thu, 13 Jul 2017 23:50:44 GMT

Social Security benefits projected to rise 2.2% in 2018

Social Security beneficiaries are projected to receive a 2.2% cost-of-living increase next year, the most since 2011, the trustees who oversee the program said Thursday.

That would be about $30 a month for the average retired worker. But It's a relative bonanza compared to the 0.3% adjustment for this year and the unchanged paychecks in 2016. The cost of living adjustments have been low because of unusually weak inflation in recent years.

Social Security officials will release the official cost-of-living increase for Social Security recipients in October

via usa today......the rest of the article can be read there.

Re: Hello For A Friend Please

qbetzforreal — Fri, 14 Jul 2017 00:01:20 GMT

I hear it today on news radio, yes there will be an increase in SS

Re: Hello For A Friend Please

Moonchilde — Fri, 14 Jul 2017 00:25:50 GMT

Thank you, @sunshine45

I hadn't heard about this. Heck, $30 will buy me a tank of gas at current rates. I'll take it!

Re: Hello For A Friend Please

noodleann — Fri, 14 Jul 2017 01:45:28 GMT

From what I'm reading, there will be an adjustment in Medicare for those who were protected from an increase last year that will reduce that increase considerably. From the St. Louis Post-Dispatch:

"The recent flat COLAs meant that nonprotected Medicare enrollees shouldered most of the burden of rising Part B premiums; the premiums for this group jumped sharply in 2016 and 2017. This year, they are paying $134 per month, while protected beneficiaries are paying an average of $109.

"But a generous 2018 COLA will spread higher Part B program costs across the entire Medicare population. That means nonprotected enrollees will see their premiums fall, while the protected group will pay more.

"Consider an example where the standard Part B premium falls to $125. That above-mentioned average Social Security beneficiary (receiving $1,360 monthly) now faces a $16 increase in her monthly Part B premium, reducing the COLA from $27.20 to $11.20. If the recipient were receiving $2,000 a month it would be a net monthly COLA of $24, instead of $40."

Re: Hello For A Friend Please

Anita Hug — Fri, 14 Jul 2017 02:41:50 GMT

@noodleann Not exactly a bonanza when all that is considered. My other insurance premiums go up more than that, so it still a net loss.

Edited to add - Not that I'm going to complain. I'll appreciate what I can get! I'm just cynical that they used the word bonanza to describe this raise.

Re: Hello For A Friend Please

noodleann — Fri, 14 Jul 2017 02:47:21 GMT

@Anita Hug wrote:
@noodleann Not exactly a bonanza when all that is considered. My other insurance premiums go up more than that, so it still a net loss.

Another matter is that in terms of qualifying for low-income assistance programs, this hike will raise the example recipient's income by around $400 a year because most aid programs use the amount before deductions, not net cash actually received, to calculate benefits. That will mean that some will be disqualified from receiving assistance or receive a lesser amount than they would have if there had been no increase, so it could be a net loss for some .

Re: Hello For A Friend Please

Caligurll — Fri, 14 Jul 2017 02:49:59 GMT

@sunshine45 wrote:
Social Security benefits projected to rise 2.2% in 2018

Social Security beneficiaries are projected to receive a 2.2% cost-of-living increase next year, the most since 2011, the trustees who oversee the program said Thursday.

That would be about $30 a month for the average retired worker. But It's a relative bonanza compared to the 0.3% adjustment for this year and the unchanged paychecks in 2016. The cost of living adjustments have been low because of unusually weak inflation in recent years.

Social Security officials will release the official cost-of-living increase for Social Security recipients in October

via usa today......the rest of the article can be read there.

I hadn't heard that. It will help offset the health insurance/Medicare increases.

Re: Hello For A Friend Please

Gram W — Fri, 14 Jul 2017 03:57:42 GMT

That sounds good on paper. This year our big .3% raise gave me $10.40 less per month in the bank each month. I have a Medicare Advantage program I just received I have about 3 months until I fall into that good old donut hole. I am just high enough to not qualify for help. I have no idea how people who get less than me survive. I guess we all make do because we like life with family and friends.

Re: Hello For A Friend Please

ILoveFragrance — Fri, 14 Jul 2017 05:21:54 GMT

Thank you for the posts and the way I understand it if someone is paying $109 or $110 now then they will have higher rates of Medicare and their raise will be much less. So they may make $10 more a month?