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Your Social Security checks could get bigger next year - Here’s how much
CNBC ^ | 12 September 2019 | Lorie Konish

Posted on 09/13/2019 6:38:24 AM PDT by zeestephen

Social Security benefits could get a 1.6% cost-of-living adjustment in 2020, according to one new estimate. The Social Security Administration is expected to officially announce its cost-of-living adjustment in late October...Meanwhile, Medicare Part B premiums are expected to increase to $144.30 per month in 2020 from $135.50 this year, according to estimates from Medicare trustees.

(Excerpt) Read more at cnbc.com ...


TOPICS: News/Current Events
KEYWORDS: cola; retirement; seniors; socialsecurity
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1 posted on 09/13/2019 6:38:24 AM PDT by zeestephen
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To: zeestephen

Very astute of Trump. The Dems are going to run on a platform of increasing SS benefits. If Trump beats them to the punch it will blunt the attack.


2 posted on 09/13/2019 6:40:15 AM PDT by Buckeye McFrog (Patrick Henry would have been an anti-vaxxer.)
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To: zeestephen

Cool, that means medicare will likely go up only 2%.


3 posted on 09/13/2019 6:41:02 AM PDT by itsahoot (Welcome to the New USA where Islam is a religion of peace and Christianity is a mental disorder.)
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To: zeestephen

1.6% might get you $1.00 in your SS check per month, $12.00 Year. The rest goes to Medicare. Then if you are like we are the Tricare Life Co-pays will GO UP and wipe out that $1.00. And more drugs and procedures will be dropped from Medicare and Tricare Life. Tricare Life is secondary Military Medical ins to Medicare for Career Military over 65 or those to severely injured to return to service.


4 posted on 09/13/2019 6:43:18 AM PDT by GailA (Intractable Pain, a Subset of Chronic pain Last a Life TIME at Level 10.)
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To: zeestephen

Fedgov giveth and fedgov taketh away.


5 posted on 09/13/2019 6:47:01 AM PDT by Ken H (2019 => The House of Representin')
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To: zeestephen

I expect my SS check to go down, because my income on my 2018 tax return was quite good. There is a one-year delay before it hits your SS.


6 posted on 09/13/2019 6:48:37 AM PDT by proxy_user
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To: GailA

Won’t disagree with you on your points, but your math is off. 1.6% on a $1000 SS payment is $16. Medicare increase will gobble about half of that. As they say in German, “es Macht nichts.”


7 posted on 09/13/2019 6:52:49 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: itsahoot

Re: Part B premium

Expected to go up $8.80.

$135.50 to $144.30.

That will be a 6.5% increase.


8 posted on 09/13/2019 6:57:03 AM PDT by zeestephen
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To: Buckeye McFrog

This is not Trump. This is the social security administration under regulations set in law as to how to calculate the SS cost of living increase. It has changed, over time, by Congress. I have gotten some kind of cost of living adjustment of ss every year.


9 posted on 09/13/2019 6:57:27 AM PDT by Wuli
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To: Night Hides Not
Re: your math is off

I think he meant that all but $1 would go to increased Medicare premiums.

Many people have their Medicare costs directly subtracted from their SocSec check each month.

10 posted on 09/13/2019 7:03:55 AM PDT by zeestephen
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To: zeestephen

If real inflTion factors (actual food costs, etc) are applied, SS recepitants should get more than 1.6%. Congress has fiddled with the COL for decades.


11 posted on 09/13/2019 7:12:06 AM PDT by rstrahan
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To: Buckeye McFrog
Very astute of Trump. The Dems are going to run on a platform of increasing SS benefits. If Trump beats them to the punch it will blunt the attack.

Lucky is more like it. Social Security increases are automatic and are based on a formula and not legislation.

12 posted on 09/13/2019 7:18:37 AM PDT by DoodleDawg
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To: Wuli
I have gotten some kind of cost of living adjustment of ss every year.

I remember getting zip zilch nada under obama a couple of years 2010 and 2015. The obama admin cola calculations seemed to lean to quite lean cola.

13 posted on 09/13/2019 7:26:00 AM PDT by redcatcherb412
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To: zeestephen

My dad’s SS COLA went up $22 last time and the property tax went up the same amount per month so it was a wash for him.


14 posted on 09/13/2019 7:28:40 AM PDT by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~ Eat Sleep Fly Repeat ~)
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To: zeestephen
I think they should freeze Medicare payments for Seniors at age 70.

I also think they should distribute the COLA funds equally among all SS folks who have reached "true" retirement age.

15 posted on 09/13/2019 7:30:19 AM PDT by Sacajaweau
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To: DoodleDawg
Lucky is more like it. Social Security increases are automatic and are based on a formula and not legislation.

Correct.

The Bureau of Labor Statistics (BLS) measures price inflation with a Consumer Price Index (CPI). However, COLAs do not take into account many items of life that do increase. It's a very bastardized formula.

16 posted on 09/13/2019 7:33:10 AM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: zeestephen

What a pointless article. There is a COLA just about every year, and it amounts to diddly.


17 posted on 09/13/2019 7:34:21 AM PDT by Fido969 (In!)
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To: zeestephen

1.6% raise in benefit, 6.5% raise in Medicare cost.


18 posted on 09/13/2019 7:34:28 AM PDT by NonValueAdded ("Sorry, your race card has been declined. Can you present any other form of argument?")
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To: Wuli

Most of it got erased by the increase in Medicare Part B....and we had a few years with no increase at all.


19 posted on 09/13/2019 7:37:17 AM PDT by Sacajaweau
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To: zeestephen

My net increase after medicare increase will be right at $6.80 a month. My quandary is where to spend that increase.


20 posted on 09/13/2019 7:39:50 AM PDT by Ron H. (Gab.com)
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