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10-16-2008, 10:23 AM
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Senior Member
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Join Date: Oct 2006
Location: Long Island, NY
737 posts, read 847,801 times
Reputation: 214
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Social Security benefits going up by 5.8 percent
Social Security benefits going up by 5.8 percent By MARTIN CRUTSINGER, AP Economics Writer
49 minutes ago
WASHINGTON - Social Security benefits for 50 million people will be go up 5.8 percent next year, the largest increase in more than a quarter century.
The increase, which will start in January, was announced Thursday by the Social Security Administration. It will mean an additional $63 per month for the average retiree.
The increase is the largest since a 7.4 percent jump in 1982 and is more than double the 2.3 percent rise that retirees got in their monthly checks starting in January of this year.
The typical retiree's monthly check will go from $1,090 currently to $1,153.
Social Security benefits going up by 5.8 percent - Yahoo! News |
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10-16-2008, 10:41 AM
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Dreaming of Californication
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Join Date: Dec 2006
Location: Somewhere in Sopranoland
598 posts, read 340,425 times
Reputation: 127
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I still got a few more years to go !!
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10-16-2008, 04:20 PM
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Moderator
Status:
"Taradiddle..pretentious nonsense"
(set 2 days ago)
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Join Date: Jan 2007
Location: foothills of the Appalachians
7,845 posts, read 5,163,005 times
Reputation: 3090
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Well that will help pay my the increase in my medical cost..
__________________
"Yesterday's gone - Tomorrow's a mystery - Today is a gift. That's why we call it the 'Present'."
-- Author Unknown
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10-16-2008, 06:44 PM
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Monitor
Status:
"living blocks from the Pacific"
(set 16 days ago)
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Join Date: Jul 2007
Location: santa cruz california
4,311 posts, read 3,173,482 times
Reputation: 1383
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Does that apply if even your first check won't be until December or January ? 
__________________
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Be kinder than necessary because everyone you meet is fighting some kind of battle.
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10-16-2008, 08:25 PM
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Is That All There Is ??????
Status:
"winter is bleak !"
(set 14 days ago)
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Join Date: Mar 2007
Location: west coast
655 posts, read 469,571 times
Reputation: 299
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I've been on SS since I turned 62....... and have noticed that every time the payment has increased..... the cost of living and cost of Medicare also increased to a very close amount.
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10-17-2008, 05:17 AM
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the more I see of people the more I love my dogs
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Join Date: Oct 2007
Location: NY & Fl
2,290 posts, read 703,584 times
Reputation: 887
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Also, Part B premiums will NOT increase this year.
That will make it a true increase.Not enough to cover the actual, rather than gov't proclaimed , higher cost of living but better than before when the COL increase was wiped out by the Part B increase.
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10-18-2008, 09:00 AM
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Senior Member
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Join Date: Oct 2006
Location: Long Island, NY
737 posts, read 847,801 times
Reputation: 214
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Quote:
Originally Posted by nancy thereader
Does that apply if even your first check won't be until December or January ? |
Yes, |
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10-18-2008, 06:41 PM
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Monitor
Status:
"living blocks from the Pacific"
(set 16 days ago)
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Join Date: Jul 2007
Location: santa cruz california
4,311 posts, read 3,173,482 times
Reputation: 1383
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Thanks, norm.
__________________
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Be kinder than necessary because everyone you meet is fighting some kind of battle.
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10-20-2008, 03:57 PM
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Senior Member
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Join Date: Sep 2007
Location: North Adams, MA
612 posts, read 533,698 times
Reputation: 399
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The fact that the Medicare B premium will not increase is strictly a one year, accounting fluke thing. I am quite sure that the more realistic COLA and lack of Medicare B increase has nothing, absolutely nothing, to do with the fact that this is an election year.  |
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10-24-2008, 06:50 PM
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Settlin' in; done cruisin'
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Join Date: Oct 2006
Location: Farmland side of the mountain
2,482 posts, read 753,487 times
Reputation: 8538
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Here's the info I was given by a SS rep over the phone today.
Medicare remains @ 96.40
Beginning with January 2009 check, there will be a 5.8 percent increase
And, in 2009 you may earn up to $14,160 before giving back $1 for every $2 made over the limit.
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