Medicare Costs To Reduce Social Security Increase

[Purveyor]

Source: ASSOCIATED PRESS

(10-19) 15:26 PDT WASHINGTON (AP) --

That didn't last long. About 55 million Social Security recipients will get their first increase in benefits next year since 2009 — a 3.6 percent raise. But higher Medicare premiums could erase a big chunk of it.

For some, higher Medicare Part B premiums could wipe out as much as a fourth of their raise from Social Security, according to projections by the trustees who oversee the programs.

Medicare is expected to announce 2012 Part B premiums as early as next week. The premiums, which cover doctor visits, are deducted automatically from monthly Social Security payments.

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"It may be cold comfort, however, once they see just how high next year's Medicare premiums will go," said Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare.

MORE...

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2011/10/19/national/w064209D15.DTL

[FiveGoodMen]

1. One shell game after another.

[sandyj999]

2. No surprise nt

[RebelOne]

6. Nope, no surprise at all. I expected that,

That's why we are getting a COLA. Maybe it will get me a $5 monthly increase in SS benefit after the Medicare hike.

[Purveyor]

9. I just heard on PBS Newshour that the medicare increase will be around $14. eom

[Scuba]

3. Well, it's not like I paid into it for 40 years... oh wait. Never mind.

[Nuclear Unicorn]

5. I'm only 23

I have to keep paying even though it's all falling flat.

[RebelOne]

7. Sorry, but you are probably right. n/t

[Scuba]

8. There's no reason Social Security and Medicare can't be whole when...

...it's your turn. OK, there's politics and a bunch of wealthy people trying to steal it, but....


Social Security and Medicare are solvent for nearly 3 decades....


Both could be made permanently solvent in about 5 minutes if Congress actually represented the People....



If SS and Medicare are so damned broke, how come the military isn't broke? How come the taxpayers gifts to Exxon and GE aren't broke?

[CountAllVotes]

11. my late mother thought like that too

and she lived to be 78 years old. Being she didn't pay much into it she only got $175.00 a month out of it but she was on Medicare alright.

Stop listening to the lies and if you are worried, start up an IRA account. That is the best thing to do IMO.

:dem:

[jwirr]

4. I have never gotten a raise that was not wiped out by the Medicare

increase in the eight years that I have been on Social Security. This is not new.

[SoapBox]

10. ROFL! Well...I shouldn't be but this is usually how this goes...

My Mom is on Medicare...Even though there have been no SS increases in the last years,
as soon as this was announced, I said, JUST WAIT...Wait...Wait for it...

YUP! Medicare premium increase!

...too bad.

[CountAllVotes]

12. that is the way it works

It is all written into the plan and they could not raise Medicare rates being they claimed there was no inflation. :dunce:

[Hoyt]

13. Just a couple of years away, I look forward to Medicare. The drug benefit was a big boost too.

Point is, I'm trying to look at positive side. I fully understand the implications (they've been running through my head for months and are quite gloomy), but some folks have it a lot worse.

When the economy improves -- if it does -- we'll all be better off.

[doc03]

14. Another thing nobody seems to mention is most

retirees also have a Medicare supplement and those premiums will most likely raise. My union is currently negotiating for our Medicare supplement. This year our employer's Medicare supplement runs $65 a month per person and they are saying the premiums will most likely increase another $50 next year. So there goes my entire COLA and then some.

[Dont call me Shirley]

15. Fuckin insurance companies are assholes.

No doubt they lobbied for the increase!

NO FOR-PROFIT HEALTHCARE!