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Treasured Social Butterfly
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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 1 of 10

@GailL1 wrote:

@NerdyMom wrote:

Sorry, Rker.   The new tax plan will kill Social Security COLAs, too.   Smiley Sad   It's just a nightmare for anyone on a fixed income.


rker321's 2018 SS benefit check will not be any lower than it is today.  The government is just telling her how she HAS to use that 2% COLA for 2018 - her part of the whole Medicare Part B cost.

 

That won't change no matter what type of CPI we use to compute a COLA.

However holding down the cost of specifically Medicare Part B would help people to realize a bit more of a COLA directly into their benefit payment.

 

I thought people had a lifetime to think about retirement and plan accordingly in expenses as well as income.  We have many programs that help with necessities for those whose income is low enough.

 

I am sure that we all know seniors who may not have planned well for some reason. Some may still have a mortgage (and not a reverse one) or who live in high cost areas and these things may affect them even if they aren't low income.

 

We all have to look at our individual situations and see what can be done for the best result.

 

 

 

 


It will have lower purchasing power under the GOP tax plans, depending on what gets ironed out in Committee.    They want to do a chained CPI to determine COLAs, and that will disproportionately hurt seniors on a fixed income.  Their expenses are different and more prone to higher and more volatile inflation. Like medical costs. 

 

You can't blame people for not planning for retirement.   "Even the best laid plans can go awry" and all that.  As I write this, my husband has been off work for six weeks due to an injury that could happen to anyone, and I've been off work for at least a month to care for him and coordinate his care.   He's spent 18 days now in the hospital, with an average daily cost of about $2,100 a day here in my high cost-of-living area.  We would inching our way to almost $100,000 in expenses and lost wages, if not for generous paid medical leave and halfway decent insurance.  And all that in just six weeks.  I cannot even imagine what people with no paid leave, or crappy insurance, go through. 

 

Just one incident like this in a person's life is enough to derail them financially for a lifetime. 

 

We will be fine.  But we are the exception.  Policy needs to be written for the norm.   People do the best they can.  I'm only 50.  I can still go get a higher paying job to make up for any unforseen financial burdens I may face.  It's getting tougher as I get older, but I can still do it.  Can my mother?  Not really.  To me, it's just really the lowest of the low to pick on seniors on fixed incomes, and that's exactly what this "tax reform" is doing.  They've worked hard their entire lives.  Time to rest, and I want them to rest as stress-free as possible. 

 

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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 2 of 10

Gail, I really don't understand your frame of mind. You seem to think that the people that complain about any of this were the people that never planned for their future retirement. Have you really drunk the kool aid about that statement?

We have planned for over 40 years for the time that we would retire. we saved money in our Iras, 401K's  and pension plans knowing that SS would not be enough. 
But, sorry, I will not accept your attitude that people never planned, enough?  maybe, but they did what they could having a family, and now find themselves in a position that they have never thought that they would be in their lifetime.Instead of your criticism and seeming disregard for those people. Start thinking about what is the reality of all of this and who is being affected. and at least sympathize  with their plight.

 

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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 3 of 10

GailL1 wrote: I am sure that we all know seniors who may not have planned well for some reason. 
I thought people had a lifetime to think about retirement and plan accordingly in expenses as well as income.  

Right Gail1, guess the problem is just like Grassley said: "spending every darn penny they have, whether it’s on booze or women or movies".

 

Seriously, do you know any middle-class people who worked their whole adult life, raised a family, paid their bills, etc., and just didn't have enough income left over to save sufficiently for retirement?  I've known some.  

 

Right now I'm thinking of a blue-collar couple who had 6 children.  They both worked and their children all went on to do better than their parents.  The only mistake one can say they made is that the wife lived too long.  Her widow's pension & Social Security did not keep up with inflation & she outlived (past 90) the nest egg they were able to scrape together. 

 

BTW, a SS benefit that shrinks in buying power because the wrong CPI is used (i.e., doesn't keep up with actual inflation for seniors) is not a problem of planning by the recipient.   

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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 4 of 10

@GailL1 wrote:

@rker321 wrote:

If things continue to go well in the economy and an even more substantial COLA comes down the pike - no matter which CPI is used - and Medicare Part B cost continue to rise, which they will if we don't do something - your premiums will continue to rise cause you are still a few dollars short of the regular norm which most people will pay in 2018 - $134 per month.

 

Just to clarify, if COLA increases, it's because the  CPI increased, meaning food, medical costs and, transporatation all increased....no one comes out "ahead".


"FAKE 45 #illegitimate" read a sign at the Woman's March in Washington DC, January 21, 2017.
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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 5 of 10

@NerdyMom wrote:

Sorry, Rker.   The new tax plan will kill Social Security COLAs, too.   Smiley Sad   It's just a nightmare for anyone on a fixed income.


rker321's 2018 SS benefit check will not be any lower than it is today.  The government is just telling her how she HAS to use that 2% COLA for 2018 - her part of the whole Medicare Part B cost.

 

That won't change no matter what type of CPI we use to compute a COLA.

However holding down the cost of specifically Medicare Part B would help people to realize a bit more of a COLA directly into their benefit payment.

 

I thought people had a lifetime to think about retirement and plan accordingly in expenses as well as income.  We have many programs that help with necessities for those whose income is low enough.

 

I am sure that we all know seniors who may not have planned well for some reason. Some may still have a mortgage (and not a reverse one) or who live in high cost areas and these things may affect them even if they aren't low income.

 

We all have to look at our individual situations and see what can be done for the best result.

 

 

 

 

* * * * It's Always Something . . . Roseanne Roseannadanna
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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 6 of 10

@rker321 wrote:

MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

=========================



. . . .  YOU ARE CATCHING ME AT A VERY  VERY BAD TIME. tHAT **bleep** NOT ONLY WILL SCREW MY TAXES BUT NOW MY SS CHECK IS REDUCED. 
lONG LIVE THIS ADMINISTRATION. !!!!!!!!!!


Unless there is something else going on, your SS benefit will NOT be any less because you are protected by the hold harmless clause.

 

I am just guessing that you did not include the 2% COLA which will hit your benefit in 2018 - add that to your base benefit (before your Part B premium is deducted) and then subtract out your new 2018 Medicare Part B premium - you said it was $ 126 per month.

 

You should see that your paid Benefit in 2018 is NOT lower than your 2017 paid benefit.

 

Edited to add - your benefit payment may not go up because of the added Medicare Part B premium but it will NOT be any lower than what you netted in benefit amount for 2017.

 

Those who were protected by the SS hold harmless clause in 2017 and since these beneficiaries only got a .3% COLA for 2017, they did not see their premiums increase in 2017 but those not protected by the SS hold harmless clause did have an increase in 2017 to $134 per month.  Those people include new retirees signing up, those who do not get their SS benefit yet but are signed up for Medicare and of course, those seniors with higher income who pay the regular Part B premium AND their premium surcharge.

 

If things continue to go well in the economy and an even more substantial COLA comes down the pike - no matter which CPI is used - and Medicare Part B cost continue to rise, which they will if we don't do something - your premiums will continue to rise cause you are still a few dollars short of the regular norm which most people will pay in 2018 - $134 per month.

* * * * It's Always Something . . . Roseanne Roseannadanna
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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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@KidBoy2 wrote:
MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

=========================

Is that because of increase costs of what Medicare has to pay out?

KIDBOY YOU ARE CATCHING ME AT A VERY  VERY BAD TIME. tHAT **bleep** NOT ONLY WILL SCREW MY TAXES BUT NOW MY SS CHECK IS REDUCED. 
lONG LIVE THIS ADMINISTRATION. !!!!!!!!!!

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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 8 of 10
MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

=========================

Is that because of increase costs of what Medicare has to pay out?
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Re: MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 9 of 10

Sorry, Rker.   The new tax plan will kill Social Security COLAs, too.   Smiley Sad   It's just a nightmare for anyone on a fixed income.

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MERRY CHRISTMAS, MY MEDICARE JUMPED TO 126.00 FROM 107.00

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Message 10 of 10

I WAS NOT AWARE THAT MEDICARE WAS GOING TO BECOME SO EXPENSIVE THIS YEAR. I  THOUGHT THAT MY MEDICARE PREMIUM WOULD NOT JUMPED IN SUCH A MANNER.

HAS ANYONE SEEN THEIR 2O18 BENEFITS ?

THE 2% COLA DID NOT INCREASE MY CHECK NOT EVEN BY ONE PENNY.
THE JUMP HAS BEEN HIGHER THAN i THOUGHT IT WOULD  BE.

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