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Respected Contributor
Posts: 5,024
Registered: ‎03-11-2010

Re: SS increase notification


@Carmie wrote:

@Mindy D   I read that there are some ideas to send an extra $300 every month to people on SS. That would be a godsend for people who are at or below the poverty level.

 

I don't know where that money is gonna come from, but I believe that everyone should pay SS taxes on 100% of their earned income.

 

Currently, you pay SS taxes on the first $142,800.  So, as always the people who make less pay SS on 100% of their wages, the the large wage earners on pay SS taxes on a portion of their income.  This is a pet peeve of mine.

 

I am not going to hold my breath waiting for a good increase.

 

Oh another thing  that ticks me off.  Those stimulus check,we received last spring are not taxable, but some of us got smaller checks as well a month or two later that was interest that was sent because the checks were late.  That interest Is taxable.  So now I have to claim an extra $10 and change on my taxes....and the government is going to send out a form to file with the taxes if the amount received is over $10.

 

This is so silly and wasteful.  It will cost more to send out the forms than the money the IRS will make.


Our government doesn't work for us. They work for themselves - very well I might add.

Respected Contributor
Posts: 4,447
Registered: ‎09-12-2010

Re: SS increase notification

[ Edited ]

Maybe I'm in the minority here, but I'm not complaining at all about the 1.3% increase in SS benefits this year. My Medicare Advantage premium went up slightly again, but when I look at the increase in insurance cost over the 7 years since I first retired, it's an average of around $6/year, and I consider the coverage I get to be very good. And, I'm still paying less than what I paid for insurance when I was working. My SS benefit is supplemented by my IRA monthly distribution and I feel fortunate for that.

 

All in all, I'm fine with the annual SS increase covering (or coming close to that) the slight increase in my Advantage Medicare premium. Both hubby and I have seen reduced prices of prescription medications the last couple of year.  BTW, before I retired, my annual salary increases were around 1.5% the last couple of years. This is strictly my opinion - my point of view.

Respected Contributor
Posts: 2,326
Registered: ‎03-11-2010

Re: SS increase notification

I can't complain.  I'm thankful for SS and Medicare. But I do understand that SS is not in a good situation and will likely have to be altered at some point in order for it to survive.

Honored Contributor
Posts: 10,168
Registered: ‎03-14-2010

Re: SS increase notification

Got my letter about the 1.3% SS increase a few days ago....it also mentioned my medicare premium would be going up way more than 1.3%. 2 steps forward, 1 step back!
Esteemed Contributor
Posts: 5,500
Registered: ‎03-09-2010

Re: SS increase notification

I bought my big bottle of champagne and am ready to celebrate my raise once my SS letter gets here.

 

 

* A woman is like a tea bag. You can't tell how strong she is until you put her in hot water. *
- Eleanor Roosevelt
Honored Contributor
Posts: 15,292
Registered: ‎03-09-2010

Re: SS increase notification

Does the increase appear with your January SS? I'm not on Medicare so this is new to me and that's why I'm curious.

Honored Contributor
Posts: 29,607
Registered: ‎08-19-2010

yes, they (in my case) send out the new amounts in mid De...

yes, they (in my case) send out the new amounts in mid Dec then in your first SS check in Jan it will show the slight increase.

 

Medicare premiums went from 144 to 148.50 . So,  if I get a 14 increase, 4 will go to Medicare Part B premium and I might see 9-10 increase.

 

I thought that's what my letter was turned out to be about a dr visit from Sept. LOL  Surprised to see others had already gotten theirs, though.

 

Must be sent out alphabetically .

Honored Contributor
Posts: 9,518
Registered: ‎03-09-2010

Re: SS increase notification

yep--I get $8 whole dollars more!!!!  WOOHOO Woman Frustrated

Respected Contributor
Posts: 5,024
Registered: ‎03-11-2010

Re: SS increase notification


@Kalli wrote:

I can't complain.  I'm thankful for SS and Medicare. But I do understand that SS is not in a good situation and will likely have to be altered at some point in order for it to survive.


I'm sure our government is mailing out monthly checks to dead people --- and prisoners. There goes our money!!!! Retired Americans deserve MORE MONEY!!!!! The politicians need to get a decrease in their salaries, perks, bonuses, free cars/gas, free meals and free vacations with their families. We also have way too many politicians that money can buy!!!! 

Respected Contributor
Posts: 5,024
Registered: ‎03-11-2010

Re: SS increase notification


@wagirl wrote:

yep--I get $8 whole dollars more!!!!  WOOHOO Woman Frustrated


Now u can spend 2 hours deciding what u want to buy for that $8. You need to stimulate the economy.