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Honored Contributor
Posts: 9,713
Registered: ‎03-09-2010

Re: SS / SSI / SSDI increase

[ Edited ]



@Kalli wrote:

Here’s the way I look at SS:  About 10 years ago workers my age who’d been assuming we’d get SS in our older years realized that based on info we were hearing, our age group and younger might not get anything at all.  So the fact that I get some money every month for me is a bonus that I’m very happy to receive as my parents’ generation has lived and collected much longer than the original calculations predicted. 

 

Going forward, my brother who’s an accountant, has explained to me the SS program is already showing signs of being unable to sustain at the current rate. I accept that SS distributions will have to change or the program could likely go bankrupt. Yes, we’ve all given into it but due to extended life expectancies in our country, it’s being forced to pay out much more than ever anticipated. 

 

I’m thankful for what I get. 


Great points@Kalli,  and a good outlook.  I am not yet eligible for SS and Medicare - maybe 20 more years.  I'm not counting on SS being there for me - and that is ok.  I just can't get over the grumbling going on, over an increase.  

Respected Contributor
Posts: 2,910
Registered: ‎05-08-2017

Re: SS / SSI / SSDI increase


@Mj12 wrote:



@Kalli wrote:

Here’s the way I look at SS:  About 10 years ago workers my age who’d been assuming we’d get SS in our older years realized that based on info we were hearing, our age group and younger might not get anything at all.  So the fact that I get some money every month for me is a bonus that I’m very happy to receive as my parents’ generation has lived and collected much longer than the original calculations predicted. 

 

Going forward, my brother who’s an accountant, has explained to me the SS program is already showing signs of being unable to sustain at the current rate. I accept that SS distributions will have to change or the program could likely go bankrupt. Yes, we’ve all given into it but due to extended life expectancies in our country, it’s being forced to pay out much more than ever anticipated. 

 

I’m thankful for what I get. 


Great points@Kalli,  and a good outlook.  I am not yet eligible for SS and Medicare - maybe 20 more years.  I'm not counting on SS being there for me - and that is ok.  I just can't get over the grumbling going on, over an increase.  


 

 

 

I am very sensitive to the issues you guys bring up. I am fortunate that I am able to collect SS , but I understand the fear that it wo t be around for future generations.

 

That's one of the reasons why I don't want to be stereotyped as one of those "seniors" who complains about everything.  I am a middle of the timeline Boomer and sometimes i think i belong in another age group!

Honored Contributor
Posts: 15,652
Registered: ‎03-09-2010

Re: SS / SSI / SSDI increase

My increaase comes to a grand total of $55.00

Stop being afraid of what could go wrong and start being positive what could go right.
Esteemed Contributor
Posts: 6,725
Registered: ‎10-21-2010

Re: SS / SSI / SSDI increase

Mine will be about $35. I think that’s pretty good. At least I will get the money back from the dental rider I had to sign up for. My parents combined will be almost $100. I think that is pretty good also.

Honored Contributor
Posts: 19,779
Registered: ‎09-06-2010

Re: SS / SSI / SSDI increase


@Kalli wrote:

Here’s the way I look at SS:  About 10 years ago workers my age who’d been assuming we’d get SS in our older years realized that based on info we were hearing, our age group and younger might not get anything at all.  So the fact that I get some money every month for me is a bonus that I’m very happy to receive as my parents’ generation has lived and collected much longer than the original calculations predicted. 

 

Going forward, my brother who’s an accountant, has explained to me the SS program is already showing signs of being unable to sustain at the current rate. I accept that SS distributions will have to change or the program could likely go bankrupt. Yes, we’ve all given into it but due to extended life expectancies in our country, it’s being forced to pay out much more than ever anticipated. 

 

I’m thankful for what I get. 


@Kalli.......The government took money from SS to pay for other things, and has never been replaced....,and that is why they are having a shortage.....  Did your brother forget about that...????

 

I too am thankful I get what I get....  Don't know what I would do if I didn't get it.  Have paid into it for many years.  I could say more on this, but will refrain from doing so because it would upset some folks.

Honored Contributor
Posts: 19,779
Registered: ‎09-06-2010

Re: SS / SSI / SSDI increase


@Ms tyrion2 wrote:

@ShowMe wrote:

@Ms tyrion2 wrote:

@Lynnster67 wrote:

Based on the most recent actuarial report, the standard Medicare premium is expected to increase by $1.50/mo, to $135.50/mo.  If you have Medicare Advantage, those premiums are expected to decrease by 6% on average.

 

So you should be able to keep most of your COLA in 2019.  The exception being for ppl who aren't already paying the std prem of $134 (like my mom) - their premiums will increase by more than the $1.50/mo until you are caught up.

 

You will receive the official notice in late Nov/early Dec.


 

 

 

Yes.

Do the math. If your SS is $1800 per month, a 2.8% increase is $50 per month. A one dollar Medicare  increase most certainly does not leave you with "nothing".

 

If your Advantage plan goes down by 6%, you are even more ahead.  What's with all the complaining?


@Ms tyrion2.......Well, my supplemental and prescription are not Advantage....  I have PPO supplemental....and it goes up every year, and it will eat up whatever Medicare doesn't.   


 

 

 

At least it covers the increases so that you aren't losing money every year. That's the point. A lot of people in the work force don't get nearly 3% raises. Some get no raises at all and still contend with skyrocketing health insurance costs.


@Ms tyrion2......it will not pay for my supplemental and prescription coverage.  

Honored Contributor
Posts: 15,652
Registered: ‎03-09-2010

Re: SS / SSI / SSDI increase

@ShowMe

 

It will pay for my precription coverage, until DH retired my supplemental is $260 a month

 

 


@ShowMe wrote:

@Ms tyrion2 wrote:

@ShowMe wrote:

@Ms tyrion2 wrote:

@Lynnster67 wrote:

Based on the most recent actuarial report, the standard Medicare premium is expected to increase by $1.50/mo, to $135.50/mo.  If you have Medicare Advantage, those premiums are expected to decrease by 6% on average.

 

So you should be able to keep most of your COLA in 2019.  The exception being for ppl who aren't already paying the std prem of $134 (like my mom) - their premiums will increase by more than the $1.50/mo until you are caught up.

 

You will receive the official notice in late Nov/early Dec.


 

 

 

Yes.

Do the math. If your SS is $1800 per month, a 2.8% increase is $50 per month. A one dollar Medicare  increase most certainly does not leave you with "nothing".

 

If your Advantage plan goes down by 6%, you are even more ahead.  What's with all the complaining?


@Ms tyrion2.......Well, my supplemental and prescription are not Advantage....  I have PPO supplemental....and it goes up every year, and it will eat up whatever Medicare doesn't.   


 

 

 

At least it covers the increases so that you aren't losing money every year. That's the point. A lot of people in the work force don't get nearly 3% raises. Some get no raises at all and still contend with skyrocketing health insurance costs.


@Ms tyrion2......it will not pay for my supplemental and prescription coverage.  


 

Stop being afraid of what could go wrong and start being positive what could go right.
Honored Contributor
Posts: 12,940
Registered: ‎11-16-2014

Re: SS / SSI / SSDI increase


@feline groovy wrote:

 

According to the blog at the Social Security Administration, the COLA (Cost of Living Adjustment) for 2019 is 2.8%.

 

It's for retirees plus Supplemental Security Income, disability, and survivor beneficiaries

 

Positive news, as even the smallest amount of extra money is something to be thankful for. 


Thank you for sharing some very positive news @feline groovy. I just started receiving SS last May and my husband who turned 70 in February is receiving it too. We couldn't be more thrilled as we realize that it may not be around by the time my daughter and son reach our age.

Respected Contributor
Posts: 4,997
Registered: ‎03-12-2010

Re: SS / SSI / SSDI increase

[ Edited ]

@Ms tyrion2 wrote:

I look forward to Medicare.

My retirement health premiums went up a lot this year and that's with a high co-pay and deductible. If COLA increases offset Medicare increases, it's all good. The COLA adjustment is definitely a lot less than my health insurance increase

 

@Ms tyrion2


You may already know this, but just Medicare is hardly enough.

 

You will have to buy prescription drug coverage and a Medicare supplement to cover what Medicare doesn't.  So the savings vs regular healthcare premiums may be little to nothing for some!

 

Hyacinth

Honored Contributor
Posts: 9,934
Registered: ‎10-01-2013

Re: SS / SSI / SSDI increase

[ Edited ]

Very grateful for the increase, I found it to be good news.