SSA benefit

catter70 · ‎10-11-2017

I received my paperwork yesterday for my SSA benefit for 2023. Although I never made much money I was very pleased with the amount received. Medicare went down about $5.00, Part D went down a dollar. Of course, next month supplimental goes up, so not sure if that amount will change from what was originally set up in June 2022.

chrystaltree · ‎05-10-2010

What is "supplemental"????

gidgetgh · ‎03-09-2010

@chrystaltree wrote:
What is "supplemental"????

@chrystaltree - her Medicare supplemental plan.

Why is it, when I have a 50/50 guess at something, I'm always 100% wrong?

Rileyx · ‎11-23-2014

My mother is getting $102 a month more in her check. Her bills (car ins, utilities-for the past few months one or the other is increasing and probably more to come) and groceries are going up and I'm not sure this will help her much. All information as to Jan increases/decreases should be on the SSA website MySocialSecurity by now.

SharkE · ‎08-19-2010

I just wait till towards the end of the month when they mail out what you will be getting in Jan/2023.

Take what your getting now and multiply by 8.7% gives you pretty good idea. My Mutual of Omaha Plan G went from 103 to 114.

Moonlady · ‎03-10-2010

1. Add your monthly Part B premium to what you're receiving monthly now. This is your current 2022 gross benefit.

2. Multiply your current 2022 gross benefit by 8.7% (.087) to get the COLA amount, round to nearest penny, and add it to your current 2022 gross benefit. This is your new, gross 2023 benefit.

3. Deduct monthly 2023 Part B premium from your new, gross 2023 benefit, and round to nearest dollar for new, 2023 monthly SS benefit to be received.

NOTE: Part B Medicare premiums depend on income, but most are currently paying $170.10/month for 2022, which will be reduced to $164.90/month for 2023.

What worries you masters you.

Mindy D · ‎05-23-2010

@Moonlady @I thought we were getting 8.5 %. 8.7% is better. Thanks for the bit of good news.

Sage04 · ‎07-10-2011

@Mindy D wrote:
@Moonlady @I thought we were getting 8.5 %. 8.7% is better. Thanks for the bit of good news.

@Mindy D, where have you been? Now this is is good surprise for you. lol

.

Have you signed up at My Social Security? I've signed up for a while now and get all the information. I opted out of mail and get everything through that website. A few weeks ago they informed me of the amount I would get every month althought I had already figured it out.

hckynutjohn · ‎06-15-2015

Since I have no control over what is considered the official COLA! I am aware that those doing the math understand that an 8.7 COLA, is nowhere near the factual increas of costs to citizens receivingit.

I will except what they decide since I have little choice in the matter. Doesn't mean I won't join in with those believe it is not really keeping up with actual, out-of-pocket, inflation.

hckynut 🇺🇸

hckynut(john)

qvcaddition · ‎03-10-2010

@Moonlady

@Moonlady wrote:
1. Add your monthly Part B premium to what you're receiving monthly now. This is your current 2022 gross benefit.

2. Multiply your current 2022 gross benefit by 8.7% (.087) to get the COLA amount, round to nearest penny, and add it to your current 2022 gross benefit. This is your new, gross 2023 benefit.

3. Deduct monthly 2023 Part B premium from your new, gross 2023 benefit, and round to nearest dollar for new, 2023 monthly SS benefit to be received.

NOTE: Part B Medicare premiums depend on income, but most are currently paying $170.10/month for 2022, which will be reduced to $164.90/month for 2023.

I did this when I heard about the 8.7 increase. It's simple to do. Just like you said.