Social Security to hand out first raises since '09

[monmouth]

More breaking news
By STEPHEN OHLEMACHER

The Associated Press

Updated: 1:49 p.m. Tuesday, Oct. 18, 2011

http://www.palmbeachpost.com/news/nation/social-security-to-hand-out-first-raises-since-1920968.html


WASHINGTON — Social Security recipients will get a raise in January — their first increase in benefits since 2009. It's expected to be about 3.5 percent.

Some 55 million beneficiaries will find out for sure Wednesday when a government inflation measure that determines the annual cost-of-living adjustment is released.

Congress adopted the measure in the 1970s, and since then it has resulted in annual benefit increases averaging 4.2 percent. But there was no COLA in 2010 or 2011 because inflation was too low. That was small comfort to the millions of retirees and disabled people who have seen retirement accounts dwindle and home values drop during the period of economic weakness, said David Certner, legislative policy director for the AARP.

"People certainly feel like they are falling behind, and these are modest income folks to begin with, so every dollar counts," Certner said. "I think sometimes people forget what seniors' incomes are."

Some of the increase in January will be lost to higher Medicare premiums, which are deducted from Social Security payments. Medicare Part B premiums for 2012 are expected to be announced next week, and the trustees who oversee the program are projecting an increase.

[DURHAM D]

1. Will the Medicare premium increase be greater than the SS increase?

Yes, of course it will.

I think the only reason they are increasing SS is so they can raise the Medicare deductions.

[dixiegrrrrl]

2. "Medicare Part B premiums for 2012 are expected to ...increase"

We got the new Medicare book ( comes annually) pushing the open enrollment, promising to
"tell you everything you want to know about enrollment"
except
the cost.
Nope, that of course was NOT in the booklet.
I am willing to bet the Part B increase will be more than 3.9%.

[chill_wind]

3. "Some of the increase in January will be lost to higher Medicare premiums"

So what will that mean?

[Paper Roses]

4. Give with one hand, take away with the other.

I bet we will be not better off come the rise in SS payment and the rise in Medicare costs.
Even/Steven!!!! We will sink farther with this raise.

I challenge the rule makers to come to my home, go shopping with me, tank up on gas and sit with me while I figure out how to pay my constantly rising bills with this paltry increase.
Sure, it is a help but with the rise in cost of everything, I bet we are still losing ground.