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Old 10-14-2013, 09:04 AM   #1
mail2us
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Social Security Cost of Living Allowance (COLA)

Unofficial announcement from SSadmin that the cost of living allowance maybe 1.5% this coming January. Don't spend it yet!!
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Old 10-14-2013, 09:23 AM   #2
K0LCB
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Wow, I may get enough extra money to buy a small cup of coffee once a month
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Old 10-14-2013, 10:31 AM   #3
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I guess it will buy a few more bottles of Vino every month... Party's at my place!
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Old 10-14-2013, 11:03 AM   #4
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Rest assured, whatever pittance we get will be eaten by medicare increases.
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Old 10-14-2013, 04:01 PM   #5
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Now I can get one meal a month super sized!
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Old 10-14-2013, 09:13 PM   #6
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I think Dave has the right idea! IF we get the increase Medicare will take it and more than likely another 4-5% besides the 1.5%! Never ending battle for Truth, Justice and the American Way! Won't comment on the gentlemen and ladies in DC and their increases and benefit packages. They say now that 64% of Americans are now thinking about total removal of ALL in DC! Oops, did I get political if so, SORRY!!!
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Old 10-15-2013, 02:40 AM   #7
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I don't think anyone from either side would argue with your comments. Right now what bothers me is that tomorrow's SS check MAY be the last I see for a while. 1.5% hike of nothing is nothing!! Already have one son on furlough and the other working for no pay! Both are federal law enforcement, but one was going through advanced training and got considered non essential since he is not out on the job at the moment. Timing really sucks sometimes!
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Old 10-15-2013, 02:59 AM   #8
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Interesting the vast array of items that do not count against inflation calculations. Does anybody really believe 1.5 reflects the inflation rate we are all experiencing.
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Old 10-15-2013, 04:33 AM   #9
richfaa
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The increase as Dennis indicates is unofficial as it has not been announced yet. I see numbers between 1.5 and 1,7%...... There is no increase set for Medicare. This is how they are set. Few realize that the premium is determined by your income. They can raise the $$ amount for the premium as they have done many times in the past but not yet.

2013–2014 Part B Income-Related Premium Amounts*

If Your Annual Income Is Percent of cost covered Actual 2013 premium† Estimated 2014 premium†
Individual Tax Return Joint Tax Return

$85,000 or less $170,000 or less 25% $104.90 $123.10
$85,001 – $107,000 $170,001 – $214,000 35% $146.90 $156.90
$107,001 – $160,000 $214,001 – $320,000 50% $209.80 $224.20
$160,001 – $213,000 $320,001 – $426,000 65% $272.70 $291.50
Over $213,000 Over $426,000 80% $335.70 $358.70

*Source: 2012 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medicare Insurance Trust Funds. Premium amounts for 2014 are intermediate estimates only. Actual premium amounts for 2014 will be released sometime around November 2013.
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Old 10-15-2013, 07:47 AM   #10
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Quote:
quote:Originally posted by K0LCB

Wow, I may get enough extra money to buy a small cup of coffee once a month
Yeah, well I don't even drink coffee. Guess I'll give mine to the wife.
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Old 10-15-2013, 09:54 AM   #11
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quote:Originally posted by nosticks

Rest assured, whatever pittance we get will be eaten by medicare increases.
Thanks a lot. I was thinking about throwing a party till I read your post. Party-pooper!
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Old 10-15-2013, 09:56 AM   #12
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SS was, and is, not intended to be a living retirement wage. If anybody "needs" SS to survive, he/she failed to properly plan for retirement.
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Old 10-15-2013, 06:34 PM   #13
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Quote:
quote:Originally posted by K0LCB

Wow, I may get enough extra money to buy a small cup of coffee once a month
Might be enough some places, but don't try to buy it at Starbucks.
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Old 10-16-2013, 01:46 PM   #14
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SS was, and is, not intended to be a living retirement wage. If anybody "needs" SS to survive, he/she failed to properly plan for retirement.
I'll pass that along to our daughter who became unable to work at age 24. I'm sure she'll happy to hear how poorly she planned for her retirement. I'll also pass it along to my friend who became permanently disabled when he was in his late 30's. Not to mention all those folks who lost their pensions when they lost their jobs because the work went to China or other countries. Boy were they ever dumb.
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Old 10-16-2013, 03:23 PM   #15
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quote:Originally posted by bigskyjimmy

Quote:
quote:Originally posted by bigskyjimmy

What if you contracted a incurable disease like me and HAD to go on SS at a young age? and the medical bills drained all your savings?? it saved my butt, I am glad they took it out of my check since I was 15 and I do Live just fine off it(Hence the Fulltime RV Status) some people ought to think before they speak I get tired of hearing that from people that say "you should of saved more. to prepare" It is not my fault I contracted this disease and drained my savings to keep alive I'm glad SS was their for me I WISH I COULD still WORK I Loved my job and made 3 times more money but it is what it is
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quote:Originally posted by Hooker

SS was, and is, not intended to be a living retirement wage. If anybody "needs" SS to survive, he/she failed to properly plan for retirement.
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Old 10-16-2013, 03:58 PM   #16
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Dick, I may be able to get that cup of coffee at a DQ
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