Recent Social Security Increase

Well folks, it’s official. Social Security just announced the largest increase in monthly benefits in years for seniors. That is both good news and bad news.

  • Good news is that it is an increase.
  • The bad news is that it is 2.2%, or around $28 per recipient.

And there’s more bad news with that. That’s because the increase in Medicare Part B payments in recent years has offset any Social Security increase, though that isn’t going to be a problem in 2018.

The premiums for Part B will stay at $134 a month, unless you are considered a “high income earner” in which case it is even more.

And of course, there is the inevitable “demographic cliff” to consider. And that is that both Social Security and Medicacre are running out of money and are both scheduled to go bankrupt.

I have written extensively regarding this before and will elaborate on the findings of the trustees in their most recent report shortly.

So, I hope you consider this a big of good news. Enjoy it while it lasts.

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Comments

  1. Reply

    If the federal government would stop giving $$ to the non working class of people who don’t work and there for not putting onto social security maybe we wouldn’t be going broke. I worked over 40 years and deserve to live out my life and not worry if I lose my social security income.

      • JEANNE JOHNSON
      • September 20, 2017
      Reply

      this is so true every one of us is not rich and just have social to live on the gov. should give us araise and a extra check each year as a refund111111111

    • bev
    • September 10, 2017
    Reply

    well i was working and had a heart attach that perventing me from returning to work and it just gets worse now both my bundle branchs are not working right and that keeps your heart beating i think i desirve what i get every month

    • Barbara
    • September 25, 2017
    Reply

    yes I been trying to get on MEDICACRE for some time every time the tell me I don’t have enough point when I work all my life they want to say not enough point so what am I suppose to do can you give me an answer I don’t have no insurance what so ever is there an answer for this please let me know if there is I need insurance now I don’t go to the doctor cause I cant pay for it.

      • tony
      • September 25, 2017
      Reply

      Barbara,

      Go down to your local Office of the Aging and see if you can speak with a benefit counselor to help you with Medicare and the point situation.

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