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"CMS officials stressed that while the 14.5 percent Part B premium increase is a stiff one, the Social Security cost-of-living adjustment (COLA) — at 5.9 percent, the largest in 30 years - is estimated to average $92 per recipient. So even after the increase in the Medicare Part B premium, most Social Security recipients, whose Part B premiums are typically deducted from their Social Security benefits, will still see a net increase in their monthly check. The COLA goes into effect in January.
Once again, American seniors and taxpayers will pay the price for the outrageous pricing behavior of big drug companies,” said Bill Sweeney, AARP senior vice president for government affairs. “When Big Pharma sets a high drug price, everyone pays for it — not just those who need the medications. That’s why Congress must act swiftly to pass prescription drug reforms in the Build Back Better Act, which would bring meaningful, much-needed relief to seniors and all Americans.”
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Those Postal Notices are very late this year. I just got mine last Wednesday, and I keep track of this statement yearly......it usually arrives in my mailbox before mid-December. You can lay the blame on the slow Mail wherever you wish....but I think it's obvious what Louis DeJoy did as Postmaster.
Your new Social Security amount is pretty easy to estimate. Just multiply last year's amount by 0.059 and subtract $20 for Part B. That's your approximate raise in January. Round number Math. You don't even need a calculator for that.
Those Postal Notices are very late this year. I just got mine last Wednesday, and I keep track of this statement yearly......it usually arrives in my mailbox before mid-December...
I'll say that it is late...very late. Just got my announcement in the mail yesterday, (Friday, Jan 7th).
Mine arrived promptly in my mailbox on January 3, Monday.
But it only came from a city 1.15 hours away next state over, one of which I live 6.2 miles from the boarder of.
At least that's the return address comes with, and all my other SS A paperwork comes from.
It should be soon.
Also yesterday I got my SSDI earnings statement for my taxes.
My husband and I got our notices a couple weeks ago. But we have yet to get the earnings statements for 2021. I was a little surprised at how much the medicare B went up. Nothing we can do about that...but I did think, yeah, Covid stuff and we're paying for much of it this way. Still, I wouldn't go back to private insurance for anything in the world. This is way better.
Those Postal Notices are very late this year. I just got mine last Wednesday, and I keep track of this statement yearly......it usually arrives in my mailbox before mid-December. You can lay the blame on the slow Mail wherever you wish....but I think it's obvious what Louis DeJoy did as Postmaster.
Your new Social Security amount is pretty easy to estimate. Just multiply last year's amount by 0.059 and subtract $20 for Part B. That's your approximate raise in January. Round number Math. You don't even need a calculator for that.
Of course, this assumes you are at the base level for Medicare Part B. I’ve talked to a couple of people who claim the Medicare increase caused their total payment to go down. If true, their income had to have been pretty high two years ago.
Of course, this assumes you are at the base level for Medicare Part B. I’ve talked to a couple of people who claim the Medicare increase caused their total payment to go down. If true, their income had to have been pretty high two years ago.
As long as we all understand that their Income for that year had to be over $180K to absorb that $70 increase in the premium.......$15,000 per month costs an extra $70. That's a trade I'd make every day.
As long as we all understand that their Income for that year had to be over $180K to absorb that $70 increase in the premium.......$15,000 per month costs an extra $70. That's a trade I'd make every day.
Definitely. I don’t feel sorry for them. One indicated that RMD’s pushed him over the minimum limit and the other said they had sold some property or had some other special circumstance. I believe the second guy could potentially make an appeal, but he has plenty of income even without the special circumstance.
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