Paltry SS increase, huge Medicare part B increase (friends, years, payment)
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So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.
During the last 12 months, I have had significant increases in the following:
car insurance = +5%
health insurance premiums = +9.7%
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each
internet service = +6%
cable TV (basic service) = +6%
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now)
rent = +4%
food increases are off the chart (anywhere from +3% to + 8%)
clothing, shoes = +4%
electricity = +3%
Tell me where the 1.5 - 1.7% COLA increase fits in.
We are having this discussion in other threads here so we dont want to duplicate it.
In a sentance the larger costs associated with loans ,mortgages and refinancing knocked hundreds of dollars off the monthly nut covering the rises in cheaper items.
The cola only reflects price changes in a basket of goods and services. It may not reflect your cost of living which includes alot more parameters along with price changes
We all have such different experiences with cost of living.
Quote:
Originally Posted by xz2y
So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.
During the last 12 months, I have had significant increases in the following:
car insurance = +5% No increase for me.
health insurance premiums = +9.7% No increase for me.
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each No increase for me.
internet service = +6% No increase for me.
cable TV (basic service) = +6% I do not have this.
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now) Yep, gas is up for me too.
rent = +4% My condo is paid off, but we had a $1,000 assessment for major repairs.
food increases are off the chart (anywhere from +3% to + 8%) I have not tried to calculate this.
clothing, shoes = +4% No increase that I have noticed.
electricity = +3% No increase that I have noticed.
Tell me where the 1.5 - 1.7% COLA increase fits in.
Just as an indication about how different people's costs of living can be, I noted my experiences in blue. While I have no rent payment, as a property owner I do get hit with the cost of repairs which can come out of the blue with no warning. Then I can go years with nothing else major. That is just one of those unknowable things.
We are having this discussion in other threads here so we dont want to duplicate it.
In a sentance the larger costs associated with loans ,mortgages and refinancing knocked hundreds of dollars off the monthly nut covering the rises in cheaper items.
The cola only reflects price changes in a basket of goods and services. It may not reflect your cost of living which includes alot more parameters along with price changes
Good to know. Where are the other discussion threads on this issue? I'd like to participate. Thanks!
Just as an indication about how different people's costs of living can be, I noted my experiences in blue. While I have no rent payment, as a property owner I do get hit with the cost of repairs which can come out of the blue with no warning. Then I can go years with nothing else major. That is just one of those unknowable things.
Definitely different increases depending on one's COL. I have friends who own older houses and repairs can be an unpleasant surprise, as you mentioned. I'm interested to see that your costs have not gone up in the comparable services and goods on my list. I'm in SE MI, and you are in LA. Different parts of the US experience COLA increases differently. I'm in a college town where costs go up all the time. That may account for some of it in my case. Thanks much for the info.
So, let's do the math: SS is slated to rise between 1.5 and 1.7%. Medicare part B premiums are slated to rise 9.0%! The SS increase will be eaten up by the Medicare increase for most beneficiaries.
During the last 12 months, I have had significant increases in the following:
car insurance = +5%
health insurance premiums = +9.7%
dental cleaning, exam, x-rays and cost of 2 fillings = +5% each
internet service = +6%
cable TV (basic service) = +6%
gasoline = +15% (from $3.35/gallon a year ago to $3.75 now)
rent = +4%
food increases are off the chart (anywhere from +3% to + 8%)
clothing, shoes = +4%
electricity = +3%
Tell me where the 1.5 - 1.7% COLA increase fits in.
Maybe Obama can get you a free phone! That seems to make a lot of people happy.
It's a not so obvious way to decrease benefits over time.
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We all have such different experiences with cost of living.
11 pm here.
