Shutdown delays notice of Social Security COLA

[cal04]

http://www.huffingtonpost.com/huff-wires/20131009/us-budget-battle-social-security-cola/?utm_hp_ref=homepage&ir=homepage

Nearly 58 million Social Security recipients are still getting monthly benefits during the partial government shutdown. But they will have to wait to find out the size of next year's cost-of-living adjustment.

Social Security was scheduled to announce the annual raise Oct. 16. That's the same day the Labor Department was scheduled to release inflation statistics for September.

The Labor Department, however, said Wednesday it will not issue the inflation report because of the shutdown. No new release date was set.

(snip)
"There's enough anxiety around right now. We don't need to add to it by delaying information," said Max Richtman, who heads the National Committee to Preserve Social Security and Medicare. "They expect it. You talk to seniors, they know when the announcement comes out and they watch it very carefully."

[djean111]

1. Rumor has it that the COLA will be 1.5 per cent and that Medicare premiums

will increase by about $19 or $20.

[oldhippie]

2. Wonderful. Our Medicare premium increase will be 4 times ..

... our COLA increase.

[doc03]

3. Oh how do you know that? n/t

[oldhippie]

4. Using the numbers in the post above.

1.5% COLA and a $19-$20 Medicare Premium increase.

Yes, those were just estimated numbers, but using them I get a combined (wife and I) $8.32 after tax monthly increase in SS payment and a combined Medicare premium increase of $39-$40. For a net loss of $31 or so.

[doc03]

5. There is absolutely no mention in that story about any Medicare

increase. I don't see how you possibly came up with your numbers.

[oldhippie]

6. I used the Medicare numbers from reply #1 in this thread.

It's not authoritative, but it's a number. That's what I used in my calculation.

[doc03]

8. I don't see any Medicare numbers n/t

[oldhippie]

17. You don't? Can't you see Reply #1 to the OP which says ...

"...and that Medicare premiums will increase by about $19 or $20. " ???

And from the link provided in Reply #9 at WWW.medicare.com, the estimated 2014 premium for Medicare Part B is $123.10. Granted, it's a dated estimate, but it's an estimate.

http://www.medicare.com/medicare-coverage-basics/medicare-premiums-and-deductibles-for-2013-2014.html

[djean111]

13. False alarm, sorry. I hope.

Poking around in http://downloads.cms.gov/files/TR2013.pdf looks like the premium may stay the same? I am looking at page 95. If someone finds a more accurate number, please let me know!!!!

[doc03]

7. Lsat year we got 1.7% COLA increase, that gave me a $26 increase in

SS and the Medicare premium went up $5 from 99.90 to 104.90. Where do get a $20 increase in Medicare next year?

[djean111]

9. http://I got it from here.

http://www.medicare.com/medicare-coverage-basics/medicare-premiums-and-deductibles-for-2013-2014.html

I didn't say it was definitive or official or set in stone; just believe it is better to have some sort of rough idea.

[oldhippie]

11. Thanks for that link ......

Where I also saw this:

Although most beneficiaries pay the standard rate, there are three provisions that alter the premium rate for certain Part B enrollees:

A “hold-harmless” provision can lower the premium rate for those who have their premiums deducted from their Social Security check. This provision limits the dollar increase in the Part B premium to the dollar increase in the person’s Social Security benefit.

So that looks like we will never see a decrease in our monthly SS payment. That's good.

But yeah, it looks like they are estimating a $19 increase in Part B premium. Ouch!

[oldhippie]

10. Dunno ....

That's just what I saw in reply #1.

I sure hope it isn't that high, though I have heard that we should expect greater increases in the Medicare premium as more seniors enter the program (I just turned 65 in August). Being that Medicare premiums currently cover less than half the cost of the program, I expect them to go up. I don't know how much.

My wife and I combined only get $659 per month in SS. We had a spotty work history.

[doc03]

12. There was also a "RUMOR" put out by the righties that the

2014 premium will be $247. So much for rumors! I looked at the AARP site and they are saying Medicare premiums may even decrease because of the ACA.

[dixiegrrrrl]

14. Actually, the rumor is correct...kinda sorta....

People with 30 to 39 quarters of Medicare-covered employment pay a monthly premium of $243 in 2013.

NOTE: This is for Part A, and ONLY effects a small number of people whose incomes are high enough that they have to pay for Part A.
Most of retired folks get Part A for NO premium.
See here:
http://www.medicare.com/medicare-coverage-basics/medicare-premiums-and-deductibles-for-2013-2014.html

Part B premium for 2014, for most people, is supposed to be around $123.00 a month, a definite increase over the 109.00 of this year.

[doc03]

15. It's 104.90 this year at least for me it is. n/t

[RebelOne]

16. My Medicare premium has been $105 for the past two years. n/t

[DURHAM D]

19. The sky is NOT FALLING - here is better info.

http://www.medicareanswers.org/medicare-part-b-monthly-premium/

The Medicare Part B monthly premium rates for 2014 will be released in late October or November 2013, when the annual open enrollment begins. Experts believe that beneficiaries will not see an increase of their Medicare Part B premium in 2014.The reason why it is estimated that the rates will stay at the current level is the slower growth of Medicare costs in the past years. If the premium should increase, it will most likely be a moderate rise, similar to the $5 increase in 2013.

If you received lately one of those emails announcing that, due to “Obamacare”, the Medicare Part B premiums will rise to $247 per month in 2014, don’t be scared. This information is incorrect and is not backed up by any facts.

[trof]

18. Doesn't really matter. It will be negated by rise in Medicare premium increase.

For us it's always step up one, step back two every year.
Every increase in our S/S COLA is always less than the increase in our premiums for Medicare.

[DURHAM D]

20. See post 19 above for better info.

[freshwest]

21. It never has for me, and I've been on it for a long time. Just sayin'

[freshwest]

22. If the Rethugs get their way, there won't be a check to get a COLA. They'd love that.