Community Chat

[Trailrun23]

How much is Medicare going up? I saw it posted but haven't looked at it yet. United sent me a huge book to reference but won't look at it unless i need to. I prefer just looking at it online.

[hckynutjohn]

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@qvcfreak wrote:

@hckynutjohn   You can set it up at ssa.gov 

@qvcfreak 

Thank you, I appreciate that information.

 hckynut 🇺🇸

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[catwhisperer]

Whatever the COLA increase is, it won't begin to cover the rent increase I just got as well as groceries, etc.

[qvcaddition]

I took mine at 62, but it was ex husbands SS, because it was higher than mine and he died, so with a lot of investication, it was beneficial for me to claim his along with his living new wife at the time.  They are now both decease.

I outlived three ex husbands, but only claimed the SS from my three childrens father.

I am not in my late 80's. I had worked most of my life until age 62, then did part time employment, until last husband died and collected the ins. I had paid for many years after our divorce.

I was the owner and bene of the policy we took out when we were married.

[qvcaddition]

@gertrudecloset 

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@gertrudecloset wrote:

I'm reading some predictions.  It's not looking like it will be a double digit, but still kind of big.  I am hopeful it will be as close to 9% as possible.  

Some sources say 8.6 - 8.7 %  The wait and wonder has begun for me!

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Hope it's the latter.

[millieshops]

The measuring law used to calculate the SS increase has not changed in some years;  unless Congress votes to change the law, the amount of change in the benefit only partially matches the total inflation rise.

The increase is designed to pay for some of the expenses typical for recipients.  It has never been designed to cover all of the increases we seniors face -  and it's always covering last year's increases.  The new figure is likely to be lower because inflation  has been a bit less in the last 12 months.  We just have to keep in mind that when the rate of increase goes down, that doesn't mean the prices go back down!

[Tinkrbl44]

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@millieshops wrote:

The measuring law used to calculate the SS increase has not changed in some years;  unless Congress votes to change the law, the amount of change in the benefit only partially matches the total inflation rise.

The increase is designed to pay for some of the expenses typical for recipients.  It has never been designed to cover all of the increases we seniors face -  and it's always covering last year's increases.  The new figure is likely to be lower because inflation  has been a bit less in the last 12 months.  We just have to keep in mind that when the rate of increase goes down, that doesn't mean the prices go back down!

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@millieshops 

Off the top of your head .... when do they start speculating what the 2024 increase will be? 

I heard a jolting comment yesterday .... at the end of next month, roughly 6 weeks away, half the year will be over!

Time flies.

[persiflage]

I believe they use 3rd quarter numbers to calculate the cola.  This is an old thread.

[hckynutjohn]

Hn

[SharkE]

Yeah, don't know why people dredge up this old 'stuff'

Silly .