From that bastion of unbiased reporting, Yahoo... Social Security on track for huge cost-of-living increase "Retirees could see a double-digit percentage increase in their Social Security benefits next year as inflation continues to run hot, according to several new estimates. Based on new inflation data through June, the cost-of-living adjustment for Social Security benefits, or COLA, could be an increase of 10.5% next year, according to estimates from the Senior Citizens League, boosting the average retiree benefit by $175.10 every month. The nonprofit Committee for a Responsible Federal Budget (CRFB) puts that increase at 11.4% if inflation keeps trucking along as it currently is. And even if inflation cools, the CRFB estimates a 9% COLA, while the Senior Citizens League forecasts 9.8%." https://www.yahoo.com/money/social-security-increase-164839728.html
We should hear more in Oct on amount etc...reading could 8.75%. I'll take it, but I have no complaints with SS and Medicare for the 19 yrs I'm taking them. https://www.cnet.com/personal-finan...ty-benefits-could-increase-this-much-in-2023/ Perhaps you'll all heard this one. j
Yeh, it seems that numbers have been all over the place. What no one is saying is that the 9% official inflation rate is closer to 18% when calculated the way the government used to do it. I won't complain for myself...it's the people who are still trying to earn a living I feel for.
There is no big Whoopee for the increase. Medicare will go up again, and prices are outrageous. Just do not feel that even with a Big increase it will help all that much.
Any info yet on the premium increase? As to the COLA increase, I've read that a lot of seniors will be having to file income taxes with the increase since it will push them into the higher tax bracket. So once again I'll gripe that SS should NOT BE TAXED.
I'll take the increase, so it will help, but the out of control inflation is what needs to be corrected, but that is not going to happen. I just can't buy a nicer piece of salmon from time to time, or once in a while. And yes sorry for all those getting screwed raising families. A woman on conservative talk radio a little while ago, announced she paid $7.09 a gallon, this is regular not the "gold"...
Social Security benefits will increase 8.7% next year Thu, October 13, 2022 at 7:42 AM The biggest increase in Social Security benefits in four decades will deliver much-needed breathing room for millions of Social Security recipients. The Social Security Administration, the federal government agency that oversees the benefits, announced a 8.7% increase in the Social Security cost-of-living adjustment (COLA) for 2023.
^^ So much for that speculation about "double-digit" increase. (Of course, it's better than nothing. )
I bet they will raise our premiums that are deducted from social security too.....just for starters. Then next year, our deductables and other things will be higher, or whatever else they come up with to screw us over.
I recently noticed ads for free dental implants for seniors on medicare in this area . As I read it ... there are anual limits ?? .... Something like $2000 p/year And some qualifications must be met ??
I think that most medicare advantage plans include both dental and vision. Ours has a $2500 per year limit. However, because the advantage plans differ from one area to another, what they cover seems to be different. Some states cover dentures, but some do not, as an example. As far as social security going up, and it not being replaced with higher medicare premiums, that is a good thing if it does happen. However, anytime they have raised my SS amount, they take at least that much out of my EBT amount, so it never helps. The whole idea of the cost of living (and buying food) seems to be lost somewhere in the mix, so you still end up with no more to live on than you had before.