Whoopeee! SSI raise!

[Bob Wright]

I got the notification of my SS raise today and it was more than I had anticipated. But it was helped by my changing prescription drug insurance coverage.

Bob Wright

 

[cavediver27]

A lousy 2-1/2% was more than you expected??? Anyone who thinks inflation was only 2-1/2% last year is kidding themselves.

 

[Boxhead]

Better than nothing, maybe?

 

[Mobuck]

Yeah, I got notice my monthly SSI check was increasing over 400% (wait for it) from $8 to $34.
I'm not making any long term debts based on this.

 

[Bob Wright]

A lousy 2-1/2% was more than you expected??? Anyone who thinks inflation was only 2-1/2% last year is kidding themselves.

I KNEW the raise was 2 1/2%, but the dollar amount was more than I had anticipated. This was due to the reduction of my prescription coverge. It all flies with the wind, though, as drug plans now have a $590 decuctible, whereas there was no decuctible befo
re.

Bob Wright

 

[2Late45]

By law the premium for Medicare part B can't be raised unless there is an increase in the S.S.monthly payment.
So COLA grants a 2 1/2 % raise, Medicare goes up a bit over 6%. From $174.oo to $185.oo monthly...

 

[Bullthrower338]

I don’t expect SSI to be there when I get there, even if it is I couldn’t afford my reloading habit on it. Sure wish I wouldn’t have spent so much on African hunting, fine firearms and women and then wasted the rest!

 

[gjgalligan]

I don't expect SSI to be there when I get there, even if it is I couldn't afford my reloading habit on it. Sure wish I wouldn't have spent so much on African hunting, fine firearms and women and then wasted the rest!

Pssst - Hunting Africans is frowned upon.

 

[Hvymax]

Pssst - Hunting Africans is frowned upon.

Depends on the Hood

 

[Hvymax]

Yeah I'm taking what I can get while I can get it!!! When I found out that I could retire at 58 without penalty due to accrued Battle Damage I was off like a Prom Dress. Between SS and my pension I'm making what I would working Full Time.

 

[spud711]

They raise the benefit and then charge more for Medicare. I started paying in when I was 14, I am now 82.

 

[MaxMan]

I know, congress voted them selves a bigger raise 3.8% for 2025 I think.

 

[krw]

I bet the majority of ya'll started drawing full when you turnd 65. I hav to be 67. Way I figgerin, too mich hassle and too mich to keep up with to start at 62

 

[Delbert]

I got no increase in my SS, not that it would of made much difference anyway from the little I get. Good thing my Postal retirement keeps a roof over our heads.

 

[Paul B]

Well thanks to Ronnie Raygun way back when I lost a large portion of my SS When I retired in 2003 I was supposed to get $850 ss money. It was reduced to $175 a month because Mr. Raygun felt I would be double dipping otherwise. The sad thing about it was I had already dond my 40 quarters before I worked for the government. Would be nice if they paid me back in full with one lump sum. Yeah, like that would ever happen.
Well I have the government health insurance so with the 2.5% raise I'll expect the insurance to go up about 6% or so. Never fails.
Paul B.

 

[tazbigdog]

Comparing the increase in SS and Medicare, compared to current, I get $63 extra dollars each month. Add in the HUGE 2.5% increase, is property taxes, insurance, etc. and $63 is now a negative number.

Hopefully, with the Trump campaign promise to eliminate SS for seniors, I might ahead.

 

[blume357]

I got the letter last week and can't for the life of me figure out the math. Said my medicare deduction increased by about $10 a month but I'm still going to get the same every month.

Now if tasbigdog is right.... how is eliminating my social security going to help me get ahead? This is money I loaned the Fed. government for over 40 years?

 

[JCK]

Trump NEVER said he was going to eliminate the SOCIAL SECURITY payments.
He’s going to eliminate the taxation on it! The current rule is you pay taxes on 85% of the payment. My current bracket is 22%. Due to my wife retiring and ceasing working part time as a substitute school nurse, and changes to the tax code We’ll drop back to the 12% bracket. It’ll mean a $12,000 increase in the “take home” or rather a tax refund instead of a tax bill!
HUGE DIFFERENCE!