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Old 12-10-2018, 02:06 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,168,437 times
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Wondering how many of you have received your letter from SS updating your monthly amount to include the latest COLA.

We have not received ours yet, and yet it should be taking effect with this next deposit.
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Old 12-10-2018, 02:25 PM
 
Location: Grove City, Ohio
10,128 posts, read 12,376,133 times
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Quote:
Originally Posted by arwenmark View Post
Wondering how many of you have received your letter from SS updating your monthly amount to include the latest COLA.

We have not received ours yet, and yet it should be taking effect with this next deposit.
January's deposit if I understand how it works.
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Old 12-10-2018, 02:48 PM
 
Location: Northern panhandle WV
3,007 posts, read 2,168,437 times
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Quote:
Originally Posted by nicet4 View Post
January's deposit if I understand how it works.
Yes that is right, even though in true it should be the Feb payment, but the SS recipients would not stand for it so congress gave in and included the increase with what would be the December payment paid in January.

I am just wondering how many have received a letter stating the increase and what their new payments will be.
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Old 12-10-2018, 02:51 PM
 
Location: plano
6,565 posts, read 8,094,240 times
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I got my letter a week or so ago. 2.3% increase as I recall it and a lower medicare cost as my taxable income is lower due to end of getting some deferred compensation in the form of restricted stock earned before I retired but granted me over time as long as I am a good boy toward the company lol..
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Old 12-10-2018, 03:05 PM
 
Location: Central Ohio
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I went "paperless' so just logged in to my SS account and the letter was available there. Are you sure maybe you didn't do the same thing? Got my granddaughter's SSI increase letter on Saturday.....
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Old 12-10-2018, 03:18 PM
 
8,181 posts, read 11,902,987 times
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Quote:
Originally Posted by arwenmark View Post
Yes that is right, even though in true it should be the Feb payment, but the SS recipients would not stand for it so congress gave in and included the increase with what would be the December payment paid in January.

I am just wondering how many have received a letter stating the increase and what their new payments will be.
LOL. That's quite the active little imagination you've got there. How did you ever come up with that scenario?

I should just leave my comment at that and wait for other fanciful scenarios to be proposed, but I'll just provide the facts instead:

When automatic COLAs first went into effect, the COLAs were applied to payments received in July of each year. This occurred in 1975, 76, 77, 78, 79, 80, 81, & 82. Then in 1983, Reagan proposed a "temporary" six-month delay in COLA increases for Social Security recipients. So instead of receiving one in July 1983, it was postponed until January 1984. However, in the surprise of all surprises, that "temporary" six-month delay became permanent, and from 1984 forward, all Social Security COLA increases were applied to payments received in January of each year rather than July.

There has never been any contemplation of COLA increases being applied to the February payment, so Congress never had to "give in" to any pressure from SS recipients, lol.
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Old 12-10-2018, 03:36 PM
 
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Got mine during the first few days of December, I think. The increase is 2.8% and my Part B payment went up by $1.50 from what its been for 2018.
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Old 12-10-2018, 03:52 PM
 
2,067 posts, read 703,003 times
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Originally Posted by BBCjunkie View Post
Got mine during the first few days of December, I think. The increase is 2.8% and my Part B payment went up by $1.50 from what its been for 2018.
Ha. I wish. Letter was dated 11/30. My net SS check will go down by over $200/month next year because of IRMAA adjustments to the Medicare premiums. After a whole career of paying multiples of what the average worker pays into Medicare (since it's a % of salary) I'm still paying more. It's based on my 2017 AGI and it was my first full year as a widow.

Last edited by athena53; 12-10-2018 at 04:07 PM..
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Old 12-10-2018, 05:32 PM
 
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Obviously it's a double edged sword. I'd be totally okay with getting $200/month less if my yearly gross Social Security benefit was $85K or more, personally. Mine isn't even 50% of that, and I live in a high cost of living part of the country so every dollar counts.

But I do understand what you're saying about paying again now in this new way in addition to having paid more originally. You feel as if you're being punished not once but twice for having been financially successful.

2019 will be the final year that I will receive what my state calls the "low income senior" reduction in our obscenely high property taxes. The 2.8% increase will put me over the maximum income limit by a few hundred dollars, which will end up costing me a few thousand more in property taxes on next December's bill and for every year thereafter. So it's a delicate balance between getting a little more SS money to help with the month to month expenses, and having to pay more at the end of the year in property taxes (which, thanks to the Geniuses in D.C., are no longer deductible in real-world terms. Don't get me started.)
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Old 12-10-2018, 07:35 PM
 
Location: SoCal
13,191 posts, read 6,308,074 times
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My husband got the letter today. 2.8% increase, Medicare Part B is $135.50. Sweet, now the increase between SS and His FERS pension will pay for our cable/internet/phone bill.
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