Shelve any plans for the extra Social Security payments

[question everything]

From the WSJ - but you can find it in other places, I am sure:

While the final figure on the premium increase won’t be announced immediately—the Centers for Medicare and Medicaid Services last year released it in November—the 2% bump is likely to result in higher premiums for some 70% of Medicare beneficiaries.

The reason is a provision of the Social Security Act called hold-harmless. It prevents Medicare from passing along any premium increase greater than the dollar increase in Social Security payments to the estimated 70% of beneficiaries who typically qualify for hold-harmless treatment.

Because the cost-of-living adjustment has been low for the past two years, Medicare has been forced to spread much of the projected increase in its costs across the remaining 30%—a group that includes those who pay higher premiums because of their higher incomes, those who are new to Medicare, and those who receive Medicare but have deferred or aren’t eligible for Social Security benefits. That 30% has seen its base premium rise from $104.90 in 2015 to $134 in 2017, even as premiums for the rest increased less than $5, on average.

With the larger adjustment in 2018, Medicare can spread its costs across a much larger group of beneficiaries. This summer, Medicare’s trustees projected a standard premium of $134 in 2018.

If that projection holds, the 30% of Medicare beneficiaries who are already paying $134 a month won’t see any increase. But the remaining 70% are likely to pay significantly more. And for the average Social Security recipient, $25 of the average $27.38 increase in Social Security would go to covering the rise in Medicare.

If the premium increases by as much as the Medicare trustees forecast, “for a lot of people that could effectively mean they won’t see much of that Social Security benefit increase,” said Juliette Cubanski, associate director of the program on Medicare policy at the Kaiser Family Foundation

https://www.wsj.com/articles/social-security-benefits-expected-to-get-2-boost-in-2018-1507899667

[redstatebluegirl]

1. Gee what will my Great Aunt do not getting that extra $20 dollars?

Of course the medicare premiums will go up 50 which could damage her, except her loving great nieces and nephews send her a few bucks every month so she can eat and keep a roof over her head.

[question everything]

4. Great Aunt is lucky to have a loving family

This is something that many, who look at Social Security and Medicare as "give away for seniors" don't realize:

Many of us remember when an elderly, or a sick relative moved to live with us. We squeezed, no MacMansion then, not even "average" 2,000 sq ft homes. But we knew that when their source of income disappeared, or when they could not live alone, that family member had to step in.

Thus, the ones who bad mouth the "benefits" should realize that were it not for these programs, they would have to stop it. Or would they?

shudder..

[redstatebluegirl]

5. She spent her life cleaning other people's houses and taking care of their kids so SS is all she has

[marybourg]

8. This article explained that for most, and it sounds like for your aunt, Medicare premiums

can't go up more than the SS increase.

[Wellstone ruled]

2. Been waiting for this shoe to drop.

The Strangling of America's Seniors in real time.

[redstatebluegirl]

6. They know we vote for Democrats and they want us dead.

[Wellstone ruled]

7. We live in a mostly Senior

Golf Community,and being a active Dem,both in registering and getting out the vote. We only have six registered Dems out of four thousand Community members. These people will continue to vote against their best interests until they croak. Most are Retired Military and California Government Persons.

[BigmanPigman]

9. "Older but NOT wiser" seems to be their motto.

[Wellstone ruled]

10. So friggin true.

Tea Billy heaven complete with Golf Carts. One thing about it,we have the lowest crime rate in the Valley.

[Doreen]

3. I am getting ready to lose everything and not to long from now.

Well, there is not much I can do to get ready as I do not have the money to save. I am sure there are a lot of people like me who are right here on DU.

[question everything]

12. I hope you will not

I hope that you have resources - family and friends - or social services that can help.

[Yonnie3]

11. I'll have a small increase in the take home amount of Social Security

It will all be absorbed by an 8.7% increase in my supplemental policy and by a 15% increase in my prescription policy. Not to mention a higher deductible on the Rx policy.

I haven't looked at the numbers close enough to estimate exactly how much less disposable income I will have in 2018, but it is significantly less.