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Honored Contributor
Posts: 8,786
Registered: ‎03-12-2010

Re: Just got my Social Security info for 2018

Was thinking of what I can buy for my $5 buck raise. 2 gallons of gas for me. that is if it is still at $2.35 a gallon.

 

Honored Contributor
Posts: 9,076
Registered: ‎03-10-2010

Re: Just got my Social Security info for 2018

My moms medicare went up over 100.  Her ss will be over 100 less.  She is 97, rarely sees a dr, uses one medication, memory patches.  Medically she is low maintanece..  So pays 297 for her medicare suppliment, and 267 for medicare.  N

does not include what we pay her insurance part part d,  dont get it

Honored Contributor
Posts: 9,076
Registered: ‎03-10-2010

Re: Just got my Social Security info for 2018

Annabel's ss could be affected by investments because it is income,  the interest on investments and social security is income as well.  If SS is all you are living on, or is combined with  pensions ,and only bring in a modest income its fine. I can only speak from what i have dealt with. If you are bringing in more than 60,000 including SS you will get dinged.  Especially if you are on household with 2 SS earners, and pensions. Here in california it is tough. My mom lives on income from investment s plus many many rentals she owns out right...in Silicon Valley to boot.

 She receives 359 in SS period. She was getting 479 this year, but they charged her extra for medicare for 2018,she got dinged for medicare. She pays medicare nearly 300 for medicare and her supplimentsl is 267..  She takes one medication which she didnt. Start unil she was 96. She sees a dr ever 3 mos for check up.  She has maybe one xray a year.  They are making money on her.  Such is life   We are all grateful she Has money to support her caretakers, which run almost 120,000 a year she took care of herself until 2 years ago

 

 

Esteemed Contributor
Posts: 6,596
Registered: ‎03-09-2010

Re: Just got my Social Security info for 2018

@gizmogal...you are  aware, aren't you that your social security it taxed.

Respected Contributor
Posts: 2,355
Registered: ‎06-24-2011

Re: Just got my Social Security info for 2018

Oh Happy Days.... DH and I just received our letters from Social Security. I don't understand any of this, especially after reading the article in the AARP newspaper. All I can say is we won't be doing any major changes in our lives. I will be paying in now for Medicare and with that said, I got a $12 raise. hmm? and DH got $6. My good friend got $0

Thank God my DH gets a decent pension. Even my mom got more and she's in nursing home, which in turn goes to them. 

I don't know if any of you remember, but during the recession years, 2008-2014 there was no raise at all. So this 2.2% raise pays for medicare...Period. 

Better Luck next year.......I have my doubts.

Honored Contributor
Posts: 9,919
Registered: ‎10-25-2010

Re: Just got my Social Security info for 2018


@shoekitty wrote:

My moms medicare went up over 100.  Her ss will be over 100 less.  She is 97, rarely sees a dr, uses one medication, memory patches.  Medically she is low maintanece..  So pays 297 for her medicare suppliment, and 267 for medicare.  N

does not include what we pay her insurance part part d,  dont get it


Medicare Part B has different costs depending on your income.  If a individual files taxes and their income is between $107,000 and $160,000 or if they file a joint return with an income between $214,000 and $320,000, their Medicare Part B payment is $267 a month. If your mother does not have this high an income, then you need to check on it.

 

I don’t know which Supplement plan she has, but it seems rather high.  Those rates are determined by the plan she has and the insurance company she has chosen to provide this benefit. She could also have coverage through an employer.

 

 Currently, she is pretty much stuck with what she has unless she decides to go with an Advantage Plan instead of Original Medicare.  It sounds like something that could work for her. She can switch between Oct 15 and Dec 7 each year.

 

You can find the Plans and costs in the Booklet call Medicare and You, published by Medicare.

 

Her Medicare Part D, which is RX coverage can be changed during the open enrollment period each year.  She can shop for a lower cost plan if she wishes. If she switches to an Advantage Plan, RX coverage will probably be included and won’t need to be purchased separately.

 

Her Health Insurance rates are not based on her usage of the Plans.

 

Wow, how wonderful to be 97 with so few health concerns.  May she have many more years blessed with good health.

.

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: Just got my Social Security info for 2018

SS raise is $32.55 and medicare raise is $30 so I net $2.55.

Since I went on SS 10 years ago my COLA raises have equaled $179 total and my medicare raises equaled $38 so I have increased my monthly SS payment amount by $141 over 10 years. I'm certainly not complaining.

Valued Contributor
Posts: 728
Registered: ‎05-21-2010

Re: Just got my Social Security info for 2018

Count your blessings. I cleared $1.32 after the increase in Medicare.

 

Valued Contributor
Posts: 728
Registered: ‎05-21-2010

Re: Just got my Social Security info for 2018

[ Edited ]

Social Security benefits are not affected by investaments. I also receieve a State Government pension and it does not reduce my Social Security benefits. However I also paid into the Social Security program at  the same rate as anyone else even those who have no pesnsions. The only income that reduce your SS beneftis is earnings and once you  reach a certain age you can earn as much as you want wthout it reducing your benefits. 

Honored Contributor
Posts: 25,929
Registered: ‎03-09-2010

Re: Just got my Social Security info for 2018

@carrie ann - My father worked for the fed gov't and also always had a second job on his days off. He paid into the gov't pension plan so he rec'd a gov't pension when he retired. At his second jobs he also paid into SS but when he applied to get his SS they only paid him half what he should have gotten because he was also getting his gov't pension. 

Exactly the same story with my BIL - city cop retired on city pension but had worked security at a jewelry store where they took out SS so when he applied for his SS they only paid him half because he was getting a city employee pension.