Social Security/Medicare rip off
 

Just finished applying for SS and Medicare. Did you know that SS checks are paid in arrears so your first check will arrive 2 months after your benefit start date? And did you also know medicare payments have to be made one month in advance? So the first SS check which is delayed one month will have two months medicare payments removed. Another Washington RIP off of senior citizens. What they pay us (which has been earned) they delay payment, what they get requires advance payment. And congress wonders why the opinion polls rate them so low.

I am writing my congressman about this issue.

And please don't turn this into a political discussion. All 525 people we elect and pay to represent us are at fault.

I hear you. I just applied, too. My birth date is November but will not get first check until end of January.

Did you also know...
 

that the COLA on SS has been suspended for another 3 years while your Medicare prescription drugs will be increasing next year.

While you are working, you get paid after you work, and pay for health insurance in advance. Why should it be any different when your retire.

Actually not so, I get paid at the middle of a two week work period, so one week in arrears and one week in advance, and pay for health care on a monthly basis mid month. So a pay as I work and pay as purchased.

I just read that the medicare cola for 2012 will probably be in excess of 3%.
On Oct 19 (takes them awhile to number crunch) the Sept numbers are finalized and colas are based on the year ending September.

Just google it. Cola's have been dormant for 2 years.

By the way, SS stops the minute they find out you no longer qualify to collect.

Now another thing to remember, budget a two month delay in my SS benefit when I sign up.

I applied for my Dec. eligibility date and was also surprised by the 8 week holdback on the check. I don't think any job holds your money that long, RVRoadie. I'm taking the S.S. early, so I don't have the Medicare cost concern at this time.

Not So
 

the obama admin announced there will be NO COLA for the next 3 years. And, there is no COLA attached to Medicare. When you get your bill for a prescription that your part was $16, next year it will increase noticeably. I don't have the figure on how much. Then again, this country has had no budget since 2008 either !

I was talking about colas for SS in respect to income. Understand that for those people on medicare the monthly charge did not in increase the past two years due to no cola for SS. No doubt overall health costs are going up

Unless Obama has congress change the law, he cannot stop SS colas....

Can he? OMG

12ridehd: Just curious--did you apply at least 90 days in advance of your retirement month? I know that S/S recommends this in order to avoid a delay in your payments. Supposedly your benefits will start in your retirement month if you follow this procedure.

COLA increases are tied to an increase in the Consumer Price Index. If that doesn't change, COLA doesn't. It has nothing to do with who is president at the time.


http://dailynewscorner.com/social-se...increase/4609/

These are things I need to know. Thanks.

Applying three months in advance, which I did in June for my September eligibility, still doesn't change the date for your first check which will be November in my case.

So, I should plan on working 2 months after my eligibility/applying date to still have some income. Any penalties if I do that?

My point exactly, if you haven't been looking we've experienced a bit of inflation over the past 12 months. A cola is due for 2012.