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It's a not so obvious way to decrease benefits over time.
It's certainly obvious to me.......I think you are correct. Keep increases below actual inflation and the gov't pays out way less to beneficiaries. The issue of taxing SS benefits is another way that the benefits are being reduced. Back in the 1980's, Greenspan's report was adopted by congress in the Reagan administration to tax SS benefits for individuals with incomes over 25,000 and couples over 34,000. Those thresholds have not changed since the mid-1980's, which is another way they are taking money back from SS recipients. Those thresholds are not indexed for inflation. $25,000 is a very different amount today compared with the 1980's. The gov't goal is to tax all of the SS benefits eventually (according to Greenspan's report back in the '80's), and this has been happening under both dems and repubs.
It's certainly obvious to me.......I think you are correct. Keep increases below actual inflation and the gov't pays out way less to beneficiaries. The issue of taxing SS benefits is another way that the benefits are being reduced. Back in the 1980's, Greenspan's report was adopted by congress in the Reagan administration to tax SS benefits for individuals with incomes over 25,000 and couples over 34,000. Those thresholds have not changed since the mid-1980's, which is another way they are taking money back from SS recipients. Those thresholds are not indexed for inflation. $25,000 is a very different amount today compared with the 1980's. The gov't goal is to tax all of the SS benefits eventually (according to Greenspan's report back in the '80's), and this has been happening under both dems and repubs.
Where is this information that Medicare Part B will raise the premiums 9% ??? All I can find are rumors and undocumented info that isn't confirmed. Does anyone have REAL knowledge of this???
I would like to see a link to medicare increase also. Besides one increase over a number of years cannot be mesured equal with one years COLA increase even if true.
Some of next year's COLA could be wiped out by higher Medicare premiums, which are deducted from Social Security payments. The Medicare Part B premium, which covers doctor visits, is expected to rise by about $7 per month for 2013, according to government projections.
The premium is currently $99.90 a month for most seniors. Medicare is expected to announce the premium for 2013 in the coming weeks.
Where is this information that Medicare Part B will raise the premiums 9% ??? All I can find are rumors and undocumented info that isn't confirmed. Does anyone have REAL knowledge of this???
Totally NOT TRUE.
Medicare Part B premium is subject to a hold-harmless provision and cannot increase percentage-wise more than the SS COLA.
Last year premium was $96.40. COLA was 3.6%, so premium rose to $99.90.
Quote:
This was due to a “hold harmless” provision in the law that prevents Medicare premiums from increasing for most participants if there is no social security cost-of-living adjustment. Since social security benefits will increase by 3.6 percent in 2012, most people will see their Medicare Part B premium increase from $96.40 to $99.90.
The Medicare Part B premium is now about $100 a month and the government is projecting an expected increase of about $7 a month when new rate schedules are announced soon. The Part B premium covers doctor’s visits.
I have a hunch that part of the confusion is that new Medicare recipients (like us) are not protected by the hold harmless clause and we will pay the full additional amount as will future retirees along with the very wealthy now and others not protected by the hold harmless provision. Is that possibe? Some folks talking apples and other oranges? So those currently receiving will be held to a 1.7% increase and those new and future retirees will pay more.
MadMan would know. He hasn't been around for a while.
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