topic Re: SS recipients could get good increase 2023 in Community Chat

SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 19:13:45 GMT

I've read in view of high cost of living, inflation, etc. we could get

10.4%, some say for sure 8.50% in Jan. 2023.

(no politics, PLEASE!!! )

Re: SS recipients could get good increase 2023

Q4u — Mon, 18 Jul 2022 19:18:44 GMT

Every time there's a cost of living increase, Medicare goes up accordingly....!

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 19:24:18 GMT

sure, and the Medicare annual deductible, Medicare premium, supplement too

Re: SS recipients could get good increase 2023

Kachina624 — Mon, 18 Jul 2022 19:24:38 GMT

That means the fund can go dry faster.

Re: SS recipients could get good increase 2023

PA Mom-mom — Mon, 18 Jul 2022 19:25:22 GMT

@SharkE We'll take it; but with heating oil through the roof, and our grocery prices increasing on a weekly basis, I can't get too excited. DH decided not retire, and I'm sorry I retired. I'm now looking for a flexible part time job that will still allow me to travel to sit for my grandchildren when I'm needed.

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 19:27:00 GMT

I figure anything is better then just sitting still and still paying weekly increase, gas, groceries, price of goods, etc.

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 19:32:41 GMT

They usually announce percentage of increase in Oct. Be in checks by Jan of 2023. I went online and was curious. LOL

Re: SS recipients could get good increase 2023

JamandBread — Mon, 18 Jul 2022 19:50:19 GMT

Get it while you can. The whole program may be on the chopping block every 5 years.
I'm working until 70, so I'm not expecting much.

Re: SS recipients could get good increase 2023

Johnnyeager — Mon, 18 Jul 2022 19:55:03 GMT

Raise the Maximum Taxable Income Limit faster each year ( currently $147,0000) or eliminate the cap completely.

Not popular, but a "fix".

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 20:11:23 GMT

@JamandBread wrote:
Get it while you can. The whole program may be on the chopping block every 5 years.
I'm working until 70, so I'm not expecting much.

My husband worked till 70 , last few yrs. he just worked relief for folks on vacation, maternity leave, etc. Glad he did , makes a difference in your check. He died last yr. but, I get his benefit.

Re: SS recipients could get good increase 2023

candyagain — Mon, 18 Jul 2022 20:27:08 GMT

Cut 10% of all foreign aid and fund Social Security.

Re: SS recipients could get good increase 2023

feline groovy — Mon, 18 Jul 2022 20:41:22 GMT

That would be amazing, although the 5.9% for 2022 was also welcome by many.

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 20:48:55 GMT

supposedly , the Medicare deductible will not increase because the cost of some Althzeimers drug was halved by the drug company. So , it will stay at 233.00

Who knows ? Hope, springs eternal. LOL

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 20:55:04 GMT

oops, Meant 203.00 .

Re: SS recipients could get good increase 2023

Rockycoast — Mon, 18 Jul 2022 21:14:32 GMT

Yes, I read that also. Great news. 10.5% (the percentage most stated) will be very helpful to all recipients. No complaints from me.

Re: SS recipients could get good increase 2023

CelticCrafter — Mon, 18 Jul 2022 21:18:53 GMT

@SharkE wrote:
supposedly , the Medicare deductible will not increase because the cost of some Althzeimers drug was halved by the drug company. So , it will stay at 233.00

Who knows ? Hope, springs eternal. LOL

@SharkE that's what I heard and also Part B wouldn't increase because of that.

Re: SS recipients could get good increase 2023

occasionalrain — Mon, 18 Jul 2022 21:23:34 GMT

For some it will be too late. They need an increase now, or perhaps a cash stimulus. Before the mega rise in prices, many were barely getting by on just their SS. Now, they may lose their homes, be unable to fill their prescriptions, or eat properly.

Re: SS recipients could get good increase 2023

JamandBread — Mon, 18 Jul 2022 21:27:50 GMT

@SharkE wrote:
@JamandBread wrote:
Get it while you can. The whole program may be on the chopping block every 5 years.
I'm working until 70, so I'm not expecting much.
My husband worked till 70 , last few yrs. he just worked relief for folks on vacation, maternity leave, etc. Glad he did , makes a difference in your check. He died last yr. but, I get his benefit.

I'm sorry for the loss of your husband. I had no idea @SharkE

Re: SS recipients could get good increase 2023

SharkE — Mon, 18 Jul 2022 22:46:13 GMT

Yep, 2 went to the hospital and couple of hours later one came back

He had what they call 'widow maker' condition of the heart.

Thank you,

Re: SS recipients could get good increase 2023

vsm — Mon, 18 Jul 2022 23:29:12 GMT

More spending means more inflation. That's not politics -- it's economics 101.