# For those on Social Security - today's Inflation's silver lining?.



## Micheal (Jan 28, 2009)

Subject to change, but based on current CPI numbers the 2023 Social Security COLA will be at least 7.3% come January.
.


----------



## Big_Al (Dec 21, 2011)

Oh, Medicare will go up, like always.
Last year, Biden crowed about SS getting a 5.9% raise like it was a big deal.
Medicare went up 14.9%.


----------



## Alice In TX/MO (May 10, 2002)

It's a carrot on a stick with a donkey holding the stick.


----------



## robin416 (Dec 29, 2019)

Medicare will drop 20$ next year. Turns out Medicare was overcharging us this year.


----------



## Pony (Jan 6, 2003)

Golly, a 7.3% increase, when the true inflation numbers are in excess of 18%, probably higher.

Be still my heart...


----------



## Danaus29 (Sep 12, 2005)

robin416 said:


> Medicare will drop 20$ next year. Turns out Medicare was overcharging us this year.


Do you have anything to back up your claim? I've not known Medicare premiums to ever go down.,


----------



## muleskinner2 (Oct 7, 2007)

How about the 100% increase in the cost of fuel?


----------



## robin416 (Dec 29, 2019)

Danaus29 said:


> Do you have anything to back up your claim? I've not known Medicare premiums to ever go down.,


I'll look for the article again. Like you, I've never heard of it going down either.


----------



## robin416 (Dec 29, 2019)

HHS: Higher Medicare Premiums Stay In Place This Year, Will Drop In 2023


----------



## Big_Al (Dec 21, 2011)

At age 73 I have to work 25 hours a week to help make ends meet.
And with Biden in charge I’m losing ground. 
I’d like to actually retire before I die.


----------



## Danaus29 (Sep 12, 2005)

Thank you @robin416. I looked a bit this morning and found an AARP article.









Medicare Part B Premiums Will Not Be Lowered in 2022


Medicare recommends that it not reduce the Part B premium this year, but instead pass on any savings in 2023. Learn how you will be affected.




www.aarp.org





All I can say is "bull flopping poop" to their reason for the increase. Last year "they" claimed the increase was, in part, due to the increased cost of treating covid. I don't believe it will drop next year. I believe Medicare premiums will go up, but only a little bit. It will increase, IMO. Hubby turns 65 and wants to retire next year.


----------



## robin416 (Dec 29, 2019)

I never saw any mention of the rate increase being for covid. The only reason I've seen is for the Alzheimer's drug whose efficacy is questionable.


----------



## Danaus29 (Sep 12, 2005)

Medicare Part B Premiums Will Not Be Lowered in 2022


Medicare recommends that it not reduce the Part B premium this year, but instead pass on any savings in 2023. Learn how you will be affected.




www.aarp.org





"The increase in the standard monthly premium—from $148.50 in 2021 to $170.10 in 2022—is based in part on the statutory requirement to prepare for expenses, such as spending trends driven by COVID-19, and prior Congressional action in the Continuing Appropriations Act, 2021 that limited the 2021 Medicare Part B monthly premium increase during the COVID-19 pandemic."


----------



## doc- (Jun 26, 2015)

Unless they change the tax laws to go along with the COL raise, many of us will finish way behind because we'll have to start payng taxes. The increase will put us over the minimum income level.


----------



## Pony (Jan 6, 2003)

Speaking of double-treble-quadruple taxing premium increases, has anyone here been able to take advantage of the "money back in your check" about which JJ Walker and Broadway Joe keep on blathering?

I understand it is dependent on your county of residence, and I know of two people who have been able to get the money put back in (how about never taking it out?)


----------



## Danaus29 (Sep 12, 2005)

Pony said:


> Speaking of double-treble-quadruple taxing premium increases, has anyone here been able to take advantage of the "money back in your check" about which JJ Walker and Broadway Joe keep on blathering?
> 
> I understand it is dependent on your county of residence, and I know of two people who have been able to get the money put back in (how about never taking it out?)


Hubby's brother has one of those "give back" policies. I'm not real sure how it works. The one his mom had sent her a check at the end of the year.


----------



## doc- (Jun 26, 2015)

I have a feeling they give you your $125/m Part B payment back, but then you have to pay even more per month for the HMO type new plan....???


----------



## weaselfire (Feb 7, 2018)

Watch which medicare supplement plan you choose. Those advertised ones generally have some drawbacks which can be seriously detrimental to many buyers. Nothing comes for free.

Jeff


----------



## Micheal (Jan 28, 2009)

Based on CPI-W recent release the 2023 SS COLA will be 8.9% if there are no further changes during Aug and Sept.....
A report from the Senior Citizens League predicts a bump in 2023 could raise benefits by 8.6%.

Time will tell.........although we'll all know come Oct....


----------



## Pony (Jan 6, 2003)

It blows my mind that Medicare is now an issue for me... How did that happen?

ANYway, I don't see how 8.6% is going to compete with forced supplements, and the real number 30%+ inflation rate.


----------



## GTX63 (Dec 13, 2016)




----------



## boatswain2PA (Feb 13, 2020)

There is no silver lining here.

1. We are approaching hyperinflation because of government printing and then borrowing money and giving it away (added to paying people to stay home and NOT produce things people buy, added to a hyperregulatory environment where businesses, especially energy companies, won't expand).

2. This forces us to raise interest rates to fight the inflation.

3. Then to mitigate the effects of the inflation on people we give money to, we have to print and borrow MORE money to give MORE money away....but this time at the higher interest rates.

Then loop back to #1 and inflation gets worse, forcing us to raise interest rates, but then print and borrow MORE money to give it away to people to mitigate the effects on inflation.....which loops back to #1....etc ad nauseum.

Yeah, about that $30.6 TRILLION debt......

We could inflate our way out of this debt carefully, but the Brandonomics we are seeing in step 1-3 above is just going to drive us to ruin.


----------



## doc- (Jun 26, 2015)

Let's put that $30T debt into perspective-- It's almost HALF of the *world *GDP....Remember a few yrs ago when everyone was in panic because Greece's debt was 5% more than its own GDP? Ours is now about 25% more than our own GDP.


----------



## Pobept75 (6 mo ago)

Pony said:


> It blows my mind that Medicare is now an issue for me... How did that happen?
> 
> ANYway, I don't see how 8.6% is going to compete with forced supplements, and the real number 30%+ inflation rate.


2022, my food, fuel and medical cost are up 25% 'so far' this year.


----------



## Vjk (Apr 28, 2020)

Mr Ponzi would be soooooooooooooooooo proud.


----------



## Micheal (Jan 28, 2009)

Micheal said:


> Subject to change, but based on current CPI numbers the 2023 Social Security COLA will be at least 7.3% come January.
> .


I was wrong, it most likely will be a 8.7% increase.


----------



## Pony (Jan 6, 2003)

Micheal said:


> I was wrong, it most likely will be a 8.7% increase.


And since inflation is racing ahead at the speed of light (not the speed of science  ), that small drop in the bucket will mean absolutely nothing.

But hey! Let's send a few billion $$$ more to Ukraine!


----------



## Danaus29 (Sep 12, 2005)

And Medicare premiums will drop 3%. I'm glad Medicare isn't eating up all the COLA but those on SS are getting screwed.

Yeh, my mom can use her $80 to pay her electric bill which went up by over $100 a month.


----------



## boatswain2PA (Feb 13, 2020)

And meanwhile those with a 401k or other savings are watching their values drop AND high inflation.

Elections matter. Policies matter.

But hey....nobody is getting their feelings devastated by mean tweets.


----------



## Forcast (Apr 15, 2014)

If you were born in 1957 you can apply this year at 66years.6 months . so im told. But 666 oh


----------

