topic Re: Social Security 2023 COLA Countdown in Community Chat

Social Security 2023 COLA Countdown

gertrudecloset — Fri, 23 Sep 2022 19:31:17 GMT

I'm reading some predictions. It's not looking like it will be a double digit, but still kind of big. I am hopeful it will be as close to 9% as possible.

Some sources say 8.6 - 8.7 % The wait and wonder has begun for me!

Re: Social Security 2023 COLA Countdown

catter70 — Fri, 23 Sep 2022 19:32:49 GMT

Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.

Re: Social Security 2023 COLA Countdown

gertrudecloset — Fri, 23 Sep 2022 19:33:50 GMT

@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.

Yes, some do complain about that. My Part B Premium went up but I saw a nice net gain in my check despit the increase. So, here's hoping.....

Re: Social Security 2023 COLA Countdown

gertrudecloset — Fri, 23 Sep 2022 19:38:44 GMT

When will I know what my Social Security benefits are for 2023?

The Bureau of Labor Statistics is scheduled to announce inflation data for September on Oct. 13, and the Social Security Administration typically announces the cost-of-living adjustment issues soon after -- in some cases on the same day.

Beneficiaries should then receive letters detailing their specific benefit rate. If you miss this letter, you can still verify your increase online via the My Social Security website. The COLA goes into effect with December benefits, which appear in checks received in January 2023.

Re: Social Security 2023 COLA Countdown

SouthernBee — Fri, 23 Sep 2022 19:41:19 GMT

@gertrudecloset wrote:
@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.
Yes, some do complain about that. My Part B Premium went up but I saw a nice net gain in my check despit the increase. So, here's hoping.....

@gertrudecloset : Considering everything going on in the world: I chose to remain positive and count my blessings every day- any net gain is better than 0 or (-) something.

Re: Social Security 2023 COLA Countdown

gertrudecloset — Fri, 23 Sep 2022 19:42:32 GMT

@SouthernBee wrote:
@gertrudecloset wrote:
@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.
Yes, some do complain about that. My Part B Premium went up but I saw a nice net gain in my check despit the increase. So, here's hoping.....
@gertrudecloset : Considering everything going on in the world: I chose to remain positive and count my blessings every day- any net gain is better than 0 or (-) something.

That right there is sooooo true. Something more than I had to begin with is better than nothing. So true @SouthernBee . I wholeheartedly agree!

Re: Social Security 2023 COLA Countdown

Kachina624 — Fri, 23 Sep 2022 19:47:26 GMT

@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.

@catter70 Medicare may take some but I got a nice raise last time.

Re: Social Security 2023 COLA Countdown

gidgetgh — Fri, 23 Sep 2022 19:51:50 GMT

I got a nice raise last time also. No complaints from me. Every month, without me lifting a finger, the Social Security fairy deposits money into my account while I sleep.

I was blissfully naive when I started drawing social security. I never realized there might be increases.

Re: Social Security 2023 COLA Countdown

spiderw — Fri, 23 Sep 2022 19:51:55 GMT

As a retiree I am grateful for my pension and Social Security. I am able to live on my own and that is a good feeling. I am fortunate and thankful.

Re: Social Security 2023 COLA Countdown

deeva — Fri, 23 Sep 2022 19:53:49 GMT

I never expect a COLA, so any increase is fine with me.

Re: Social Security 2023 COLA Countdown

SilleeMee — Fri, 23 Sep 2022 19:55:51 GMT

My state pension gave me a 1% (ONE percent) increase last year. I don't collect SS but I do have to pay for Medicare out-of-pocket and I get s-krewed every time SS gets a COLA.

Re: Social Security 2023 COLA Countdown

Kachina624 — Fri, 23 Sep 2022 20:11:24 GMT

@SilleeMee wrote:
My state pension gave me a 1% (ONE percent) increase last year. I don't collect SS but I do have to pay for Medicare out-of-pocket and I get s-krewed every time SS gets a COLA.

@SilleeMee Yes, you do. Fortunately the State of Texas makes state employees participate in SS as well as make contributions to the employees' retirement fund. Oh, how we griped about the double deduction from our paychecks, and now I'm so happy they did that. The state, however, never gives anunity increases.

Re: Social Security 2023 COLA Countdown

Trailrun23 — Fri, 23 Sep 2022 20:27:43 GMT

I am subject to the WEP so SSA keeps over 60% of my own social security every month. So unfair. All because I chose to go into public education. Also impacts other public employees such as first responder pensions in some states. I am grateful for the SS I do get but it is my own money I paid into it years ago...so it is owed to every recipient of SS, it's not a gift.

Re: Social Security 2023 COLA Countdown

chickenbutt — Fri, 23 Sep 2022 20:17:19 GMT

I only have medicare part A now, so I hope to see a decent increase. I could use it at this point in my life.

Re: Social Security 2023 COLA Countdown

Somertime — Fri, 23 Sep 2022 20:30:05 GMT

Delighted with any increase I receive. I've come out ahead with each one and this one if approved should be sizeable for me. No complaints from me!!!!!

Re: Social Security 2023 COLA Countdown

millieshops — Fri, 23 Sep 2022 21:10:08 GMT

@catter70 Whatever the increase is, I just spent it at the supermarket prepping for the possible storm here in Florida! Most of what I bought will be useful even without refrigeration or cooking power and will last in the pantry if we're lucky.

As for all the rest - it's out of my control. I saw the destruction of savings under both political parties already, so I don't place blame. Nor

Re: Social Security 2023 COLA Countdown

Kalli — Fri, 23 Sep 2022 21:45:58 GMT

I'm happy for the SS I get. For the last years that I worked, I truly thought that money would be completely gone and I'd never get back anything I put in.

Re: Social Security 2023 COLA Countdown

Kachina624 — Fri, 23 Sep 2022 21:54:01 GMT

@millieshops Have you ever tried the Hormel Compleats? They are little shelf stable dinners that you heat in the micro for 1 minutes or you could eat cold. The only one I like is chicken Alfredo but it's my go-to quick meal. I add some parmesan cheese to it.

Re: Social Security 2023 COLA Countdown

shoekitty — Sat, 24 Sep 2022 01:44:01 GMT

@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.

Shoekitty said: ain't it the truth! Amen to that

Re: Social Security 2023 COLA Countdown

phoenixbrd — Sat, 24 Sep 2022 04:49:27 GMT

@shoekitty The raise last year was eaten by the raise of Part B....a wash. So grateful I am not dependent on Social Security.

@shoekitty wrote:
@catter70 wrote:
Too bad we don't get to keep it. It gets eaten away by medicare, part D and supplemental.
Shoekitty said: ain't it the truth! Amen to that