[birdawg]

Social Security gave us a 2% increase and raised Medicare by 25 dollars. Very sad

[champion6]

Originally Posted by birdawg

Social Security gave us a 2% increase and raised Medicare by 25 dollars. Very sad

How many dollars was your 2% increase?

[Boomer]

Originally Posted by birdawg

Social Security gave us a 2% increase and raised Medicare by 25 dollars. Very sad

You think that’s bad.

Just wait.

We “old” people are in the crosshairs.

We paid our way, but now — —

The use of the word entitlements is a calculated choice.

One definition of entitlement is “having a right.” BUT another definition is “the belief that one is inherently deserving of privileges or special treatment.”

— And that, my fellow “old” people, is the definition of entitlement that carries the connotation they want us to focus on. The word in that sense is loaded down with baggage. Its use is calculated to push buttons, to conjure the welfare system, to make people angry, and to distract some of them from their own critical thinking skills.

By the way, I do not think privatization of SS is the answer. But I am tempting the fate of being deleted anyway so I will not waste more time going into why I think that.

Please pay attention and take the time to vary your sources of information. — No matter what your leanings may be.

Bye Bye.

[rustyp]

Originally Posted by birdawg

Social Security gave us a 2% increase and raised Medicare by 25 dollars. Very sad

It's a push if your SS is $1250/mo or more. A portion of SS recipients were at $109/mo due to COLA calculations last few years. If you started receiving SS recently you were paying $134/mo which is where it is projected to stay for 2018. I don't know when it becomes official. I think the way this kind of works is they can't raise your medicare premium more than your raise of SS thus why you were frozen at $109/mo. Any new comers pay the going rate then the protection starts. Any experts out there know if I got this about right ?

[jblum315]

They have raised my Medicare premium more than my SS increase for the past three years. Who says they can't? They do!!

[Chi-Town]

Originally Posted by rustyp

It's a push if your SS is $1250/mo or more. A portion of SS recipients were at $109/mo due to COLA calculations last few years. If you started receiving SS recently you were paying $134/mo which is where it is projected to stay for 2018. I don't know when it becomes official. I think the way this kind of works is they can't raise your medicare premium more than your raise of SS thus why you were frozen at $109/mo. Any new comers pay the going rate then the protection starts. Any experts out there know if I got this about right ?

Not an expert but the $109 freeze is over. $134 is the new amount for most recipients.

Sent from my VS995 using Tapatalk

[manaboutown]

The real ripoff is that the part B premium goes up with income, the top 2017 rate being $428.60/mo.! It is like being charged $16 for a $4 burger at McDonalds if you earn enough money!

Part B costs | Medicare.gov

[Dan9871]

Originally Posted by manaboutown

The real ripoff is that the part B premium goes up with income, the top 2017 rate being $428.60/mo.! It is like being charged $16 for a $4 burger at McDonalds if you earn enough money!

Part B costs | Medicare.gov

But that rate is if you are on Medicare and filing a joint annual income of over $428,000.

It's $134/month is your annual joint income is less than $170,000.

[manaboutown]

Originally Posted by Dan9871

But that rate is if you are on Medicare and filing a joint annual income of over $428,000.

It's $134/month is your annual joint income is less than $170,000.

Yes. The rate steps up with income over a total of five base levels. It hits singles at half the income level of the married filing jointly income level so a single pays the very top rate when he or she reaches an income of $214,000; a married person filing separately pays the top part B rate at an income above $129,000.

[rustyp]

Originally Posted by Dan9871

But that rate is if you are on Medicare and filing a joint annual income of over $428,000.

It's $134/month is your annual joint income is less than $170,000.

Or $85000 for single income.

[manaboutown]

I just looked at the charts again. It looks like in 2018 the top rate of $428.60 will kick in at $320K for joint tax returns, $160K for singles and at $85K for married filing separately (based on 2016 income). Shudder!!!

[Bay Kid]

The government giveth, then the government taketh away.

[Boomer]

Originally Posted by manaboutown

I just looked at the charts again. It looks like in 2018 the top rate of $428.60 will kick in at $320K for joint tax returns, $160K for singles and at $85K for married filing separately (based on 2016 income). Shudder!!!

And — the Medicare thresholds can sneak up on those who are unaware. Someone who is on Medicare and has a much higher income year than usual, due to a hefty capital gain or whatever, can get a big, ugly surprise two years later.

Well, manabouttown, I guess you could always get married — with an airtight pre-nup, of course, having made sure to use separate lawyers.

And don’t forget the RMD as a QCD does not appear as income, if handled exactly according to the rules.

(But I bet you already know this stuff.)

Sincerely,
Boomer Lucy, Advice 5-cents.