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SSA Cola for 2020

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Tom McNulty View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tom McNulty Quote  Post ReplyReply Direct Link To This Post Topic: SSA Cola for 2020
    Posted: 10 Oct 2019 at 4:03pm
The COLA for those pulling in Social Security payments we will be getting a 1.6% increase. Now let's see if our Medicare premiums go up around 3% at the same time.
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Runner485 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Runner485 Quote  Post ReplyReply Direct Link To This Post Posted: 11 Oct 2019 at 6:42am
That's usually the way it works, isn't it Tom. You get 10 cents increase, and they take back $1.52. On the other hand I read where Medicare is gonna be broke before my sons get to claim it...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SaltiDawg Quote  Post ReplyReply Direct Link To This Post Posted: 09 Nov 2019 at 8:25pm
Er, Medicare premium increases generally are adjusted so they don’t reduce Social Security benefits.
I can not remember there ever being an exception...

EDIT: My 2020 Social Security pay went Up $36.10. My Medicare went up: $9.10

My Military Pension went Up $61

Pretty good deal given there was no expectation of increases nor anything called COLA when I enlisted in 1960! And there was no such thing as Medicare!

Edited by SaltiDawg - 21 Dec 2019 at 5:06pm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tom McNulty Quote  Post ReplyReply Direct Link To This Post Posted: 10 Nov 2019 at 10:38am
The Medicare Part B premiums will go up on an average of $9+. Supplement insurance will also rise. So watch carefully as your money goes by in a flash. Happens every time. Make the seniors think they're getting something. Like we can see the trees from the forest. F'in politicians.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SaltiDawg Quote  Post ReplyReply Direct Link To This Post Posted: 10 Nov 2019 at 1:37pm
The Average Social Security Pension will go up $24. The Medicare Part B Premium will go up about $9. There is what is called the Hold Harmless Law that prevents most SS Recipients from paying more in Medicare increase than SS increase.

I am grateful for the COLA increase in my SS.
Heck, my Military Pension currently is more than my Pay was when I retired.

And COLA didn't even exist when I enlisted so there certainly was no promise nor expectation that salary or pension would be indexed.



Edited by SaltiDawg - 11 Nov 2019 at 2:08pm
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