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Recognized Social Butterfly

Re: social security increase for 2018

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Figure it again ronaldf971217 I’ll bet you received a .006% net increase in your monthly SS benefit after Medicare not .06%.

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Valued Social Butterfly

Re: social security increase for 2018

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ronaldf971217 wrote:

Just to clear this 2% cost of living increase. My increase was $34. of which 71% ($24.)

of it went for cost of medicare medical insurance and I received 29%($10.) of this 2% increase which is .06% increase and not a 2% increase. My wifes 2% increase was $16. of which went to the cost of medical medical insurance, giving her a zero (0)% increase. So thats my 2 cents worth on the coming Soc. Sec. increase in 2018.

 

 

 


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You and your wife  did get your 2% COLA, it is just that the cost of Medicare Part B has gone up.  Since it is deducted from your and your wife's benefit, they take it 1st.  It is an amount due just like any other bill.

 

The standard rate of Medicare Part B premiums for this whole year (2017) has been $134 per month and $129 per month in 2016 but you have your wife have been protected from paying these higher amounts in 2016'and 2017 by the Social Security Hold Harmless Clause.  But since you and your wife each got an increased benefit due to the 2% COLA, you and your wife can begin to pay more of your share of Medicare Part B.

 

Neither of your net benefits will be any lower than the dollar amount that you got this year. (2017) even though you got a 2% COLA.

 

 

 

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social security increase for 2018

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Message 3 of 3

Just to clear this 2% cost of living increase. My increase was $34. of which 71% ($24.)

of it went for cost of medicare medical insurance and I received 29%($10.) of this 2% increase which is .06% increase and not a 2% increase. My wifes 2% increase was $16. of which went to the cost of medical medical insurance, giving her a zero (0)% increase. So thats my 2 cents worth on the coming Soc. Sec. increase in 2018.

 

 

 

 

 

 

 

 

 

 

 

 

 

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