topic Re: Social Security COLA for 2015 in Community Chat

Social Security COLA for 2015

minkbunny — Wed, 22 Oct 2014 15:06:29 GMT

Social Security checks will rise by 1.7% -- which translates into $22 more each month for the average retired worker.

In 2015, the average worker will receive $1,328 a month, or $15,936 a year, according to the Social Security Administration. More than 58 million recipients will see the bump in their checks starting in January.

CNN Money

Secretary of Health and Human Services Sylvia Burwell announced today that next year’s standard Medicare Part B monthly premium and deductible will remain the same as the last two years. Medicare Part B covers physicians’ services, outpatient hospital services, certain home health services, durable medical equipment, and other items. For the approximately 49 million Americans enrolled in Medicare Part B, premiums and deductibles will remain unchanged in 2015 at $104.90 and $147, respectively. This leaves more of seniors’ cost of living adjustment from Social Security in their pockets.

From HHS

Re: Social Security COLA for 2015

shesallthat — Wed, 22 Oct 2014 15:34:02 GMT

hi Minks!!!

thanks for the info - gonna send it to my mom right now.

Re: Social Security COLA for 2015

MaggieToo — Wed, 22 Oct 2014 15:35:47 GMT

That means my check will be less than it is this year. I will have to start paying $39.00 a month more for my insurance coverage, minus the $22.00. My check will be $17.00 lower next year.

Re: Social Security COLA for 2015

LilacTree — Wed, 22 Oct 2014 15:40:24 GMT

Why bother?

Re: Social Security COLA for 2015

MaggieToo — Wed, 22 Oct 2014 15:48:12 GMT

We get bupkis while millions have gone to expelled undesirable ""people"".

Re: Social Security COLA for 2015

VioletEyes — Wed, 22 Oct 2014 15:50:23 GMT

On 10/22/2014 MaggieToo said:
We get bupkis while millions have gone to expelled undesirable ""people"".

I remember in high school taking an Economics course where the teacher told us NEVER to think about using Social Security to retire on.

I remembered that through my entire working career and made sure I always socked away enough money for my retirement.

Re: Social Security COLA for 2015

adelle38 — Wed, 22 Oct 2014 15:52:11 GMT

On 10/22/2014 SoftRaindrops said:
On 10/22/2014 MaggieToo said:
We get bupkis while millions have gone to expelled undesirable "people".

I remember in high school taking an Economics course where the teacher told us NEVER to think about using Social Security to retire on.

I remembered that through my entire working career and made sure I always socked away enough money for my retirement.

Unfortunately, not everyone was able to do that and even people who saved run into very unexpected expenses these days.

Re: Social Security COLA for 2015

Mj12 — Wed, 22 Oct 2014 15:55:36 GMT

On 10/22/2014 MaggieToo said:
We get bupkis while millions have gone to expelled undesirable ""people"".

You're getting 1.7%.

Active duty military - 1.0% raise.

Be happy you got anything. JMO.

Re: Social Security COLA for 2015

GrettaGarbled — Wed, 22 Oct 2014 16:10:44 GMT

Sorry Maggie. On the bright side, at least you won't be bankrupted with medical bills. At least the cost of your health insurance is reasonable. I know it's not much consolation, but it's something.

Re: Social Security COLA for 2015

mstyrion 1 — Wed, 22 Oct 2014 16:49:46 GMT

It is pretty common for large corporations to give only 2% raises yearly for those employees who have tenure with the company. It sounds like the SS increase is in line with what corporate America is doing.

Re: Social Security COLA for 2015

LilacTree — Wed, 22 Oct 2014 16:52:40 GMT

I can remember getting 8% raises in the 80s and thinking it was cheap.

Re: Social Security COLA for 2015

VioletEyes — Wed, 22 Oct 2014 16:54:51 GMT

Half the responses on this thread have been deleted making it impossible to have a conversation on this board.

Re: Social Security COLA for 2015

mstyrion 1 — Wed, 22 Oct 2014 16:55:38 GMT

On 10/22/2014 Ford1224 said:
I can remember getting 8% raises in the 80s and thinking it was cheap.

ha ha!

Me too, ford. I think those days are gone for good.

Newer employees may get them, but as soon as you start earning the mid point in your pay scale, the raises drop like a stone

Re: Social Security COLA for 2015

scotttie — Wed, 22 Oct 2014 16:56:04 GMT

I feel really sorry for people who count on SS for their entire retirement income.

Sadly, I don't think young people now still get it. For whatever reasons, they still don't or can't save.

Re: Social Security COLA for 2015

Nancy Drew — Wed, 22 Oct 2014 17:00:11 GMT

Even my generation 53 has saved VERY little. What happened to our country. Did we the gimmies or what?

Re: Social Security COLA for 2015

Tinkrbl44 — Wed, 22 Oct 2014 17:04:56 GMT

On 10/22/2014 Ford1224 said:
I can remember getting 8% raises in the 80s and thinking it was cheap.

Ditto ...... I also thought that was CHEAP ..... LOL

Re: Social Security COLA for 2015

moonstone dunes — Wed, 22 Oct 2014 17:25:44 GMT

Is the COLA calculated on the full SS ? pre-Medicare deduction? Anyone know?

Re: Social Security COLA for 2015

adelle38 — Wed, 22 Oct 2014 17:28:52 GMT

On 10/22/2014 moonstone dunes said:
Is the COLA calculated on the full SS ? pre-Medicare deduction? Anyone know?

It's calculated on your gross SS income, so yes, it's pre Medicare deductions.

Re: Social Security COLA for 2015

moonstone dunes — Wed, 22 Oct 2014 17:29:42 GMT

On 10/22/2014 adelle38 said:
On 10/22/2014 moonstone dunes said:
Is the COLA calculated on the full SS ? pre-Medicare deduction? Anyone know?

It's calculated on your gross SS income, so yes, it's pre Medicare deductions.

thank you

Re: Social Security COLA for 2015

151949 — Wed, 22 Oct 2014 17:31:18 GMT

On 10/22/2014 MaggieToo said:
That means my check will be less than it is this year. I will have to start paying $39.00 a month more for my insurance coverage, minus the $22.00. My check will be $17.00 lower next year.

So chose a different insurance.