Medicare

Social Security COLA

Exact impact will vary based on the actual Social Security benefit amount. This does not consider those paying income based premiums.

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14 replies »

  1. Since the 2018 COLA for those in the hold-harmless group in 2017 will cover their increased premium for Medicare B in 2018… does that mean those who are already paying the $134 premium in 2017 will pay less or the same in 2018 ??

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  2. I received your email about COLA at 9:47 this morning. I received a similar email from SS Admin at 10:01 AM. You beat them at their own game by 4 minutes. Nice going!

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  3. What a bunch of cry babies the senior citizens have become. My mom is 87 she has collected $130,000 more in SS benefits than she paid in SS taxes from 1948 to1995. She is thankful for her $730 SS and $93 in food stamps, each month.

    Most people on SS will get everything paid in taxes back in 5 to 7 years. Who the hell do they think is paying for years 8 to 20 or more in SS benefits, until their death.

    I will start SS benefits at 62, Jan 2018, with my wife’s spousal benefit of $307 per month (she only worked from age 18 to 23) we will be getting $1,087 per month. $284,880 over 20 years not counting COLA’s. That is $240,000 more than was paid in SS taxes from 1971 to 2018, with only 30 years with taxable SS income. I will be doing even better than my mom, per tax dollar paid.

    It is time for everyone to stop complaining and deal with the bad financial choices they made and in some cases continue to make during their working years.

    Medicare is the best healthcare, per dollar paid by the patient out there. If you do not think so, check and see what your monthly premium would be in the insurance market, way more than $134 per month. I expect to be paying $160 each for my wife and I in 2021 when we are 65. That is just $5.26 per day, I know people that spend more than that on coffee drinks at Starbucks. But, I do not see them stopping that purchase anytime soon. I am just very thankful that I live in one of the greatest countries in this screwed up world.

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    • For most, Social Security is their only source on income. The average SS payment is a little more than $1300 a month. Get back to us when you live on $1300 [or less] a month with no complaints.

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      • Atossa – My wife and I are living on $1641 per month, no complaints. We spent the last 13 months in TX, OK, and NY visiting family. We continued to pay our lot rent of $363 per month while we were gone from home. I was smart 22 years ago, I moved the family from a high cost of living area in Hampton, VA to MT. It is not my fault if someone only has SS in retirement.
        Poor retirement planning, by most people is the problem. Live for today, let the government fund my retirement, 45 years later, lol.

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      • But that’s the problem, SS was never supposed to be the sole source or even major portion of retirement income. It’s only designed to replace about 40% of income. It’s hard to believe that anyone who has not been in poverty their entire life can go through forty years of working with no retirement savings to use.

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    • Try living on $607 per month..I had to take SS early due to financial issues..and now i have to work PT..i was hoping to retire..but life throws crap at you…(sorry)…u are lucky u have yours and your wifes SS…I only have this ..I feel that they should have given me what i would have gotten if i had waited to 65..to apply or 70..the government finds every method they can to take and take…its been hard but Im grateful for what i have..if i didnt have this.i would be homeless

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      • The government has nothing and takes nothing. Every penny we seniors collect comes from the income taxes Americans pay and the payroll taxes our children and grandchildren pay today.

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      • For many decades the government has fostered fundamental changes in society which has destroyed the homemaker role of women and the role of family [especially extended family and the number of children born in most families] that used to be the safely net for the old and disabled. Then in its brave new world, the government assumed the role of caretaker that families used to provide.

        Fast forward to today… and it is no wonder so many people now depend on government and expect government to maintain its sole caretaker role that it created decades when it destroyed the old social order.

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      • “Every penny we seniors collect comes from the income taxes Americans pay and the payroll taxes our children and grandchildren pay today.”

        RD – Many of those pennies are added to the national debt each and every month. The U.S. Government is in a credit – debt cycle that will make all Americans poorer in the near future.

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  4. .

    I always thought when baby boomers became seniors they would be an important demographic group for politicians to pamper. Apparently I was wrong. Politicians could care less about senior issues. And that proposed GOP so-called tax cut will hurt single seniors over 65. Do the math after the IRS announces the inflation adjusted standard deduction, extra senior standard deduction and personal exemption amounts for 2018… all those combined are projected to be MORE than the GOP proposed $12.000 single deduction to replace all three.

    Whatever the SS COLA, for many people on SS yet again this year much of their COLA will go to an increased Medicare B premium.

    I just read this interesting related letter to the editor by an unknown senior which pretty much tells the sad story. Note the part about income tax on that ever increasing Medicare B premium.

    http://community.aarp.org/t5/Politics-Current-Events/Despite-Boost-In-Social-Security-Rising-Medicare-Part-B-Costs/m-p/1915943#M766961

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  5. Its bad enuf that they take from my Social Security for the Medicare premium..now they are going to raise it?? i only get partial due to having to take SS early due to financial issues..I feel that they should allow people to make their own decision as to whether they want Medicare or not…we should have gotten at least 10 maybe 15 raise..not less than 5…the government takes too much from the people..they need to start giving back

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