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Valued Social Butterfly
Posts: 8,617
Registered: ‎08-18-2008

Re: Social Security Cost of Living

Message 1 of 5 (28 Views)

de4297 wrote:

I figure a 2% cola increase and then I figure my increased premiums in my prescription drug and supplement insurance coverage.   WELL GUESS WHAT—I NOW HAVE A NEGATIVE 👎 NET LOSS IN SPENDABLE INCOME OF $7.00 A MONTH.  Just really a kick in the derrière! 


And you haven't even included an increase in Part B premiums.  Predictions have it that Part B premiums will go to $ 134.00 per month - that is what those now signing up are paying.

 

Deductible for Part A and B will also be increasing but your supplemental policy may pay that for you.

Info Seeker
Posts: 1
Registered: ‎01-17-2014

Re: Social Security Cost of Living

Message 2 of 5 (78 Views)

I figure a 2% cola increase and then I figure my increased premiums in my prescription drug and supplement insurance coverage.   WELL GUESS WHAT—I NOW HAVE A NEGATIVE 👎 NET LOSS IN SPENDABLE INCOME OF $7.00 A MONTH.  Just really a kick in the derrière! 

Info Seeker
Posts: 1
Registered: ‎10-04-2011

Re: Social Security Cost of Living

Message 3 of 5 (3,512 Views)

I was under the inpression that a cost of living raise would be given to everyone on social security as well as SSDI/SSI yet was incorrect! I was given some runaround from social security about how because the amount of my Medicare premium being deducted from my check that my check will continue to be the same amount forever! 

Trusted Social Butterfly
Posts: 9,246
Registered: ‎09-03-2008

Re: Social Security Cost of Living

Message 4 of 5 (3,764 Views)

r409 wrote--The average senior on social security receives about $7.00 per hour based on a 40 hour week by comparison.----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------So you think a retired senior should earn the same as someone who works 40 hours a week?  The federal national minimum wage is $7.25/hour. Many who paid SS maximum for several years  get almost double that. FYI- Trump promise that recipients will get a healthy raise in 2018 compared to what we got during the Obama years.

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Info Seeker
Posts: 1
Registered: ‎05-31-2017

Social Security Cost of Living

Message 5 of 5 (3,819 Views)

Is anyone advocating a cost of living increase for seniors. I here all of this talk about people not being able to live on a miimun wage of less than $15.00 per hour. The average senior on social security receives about $7.00 per hour based on a 40 hour week by comparison. I haven't heard of anyone standing up for people whose primary source of income is social security. We worked hard paid into the social security fund, and the government stole the money to fund other programs. Our cost of living goes up every year, and yet no cola increase. Help!