Living In The Philippines Forum

Itís Your Money => Social Security and Pensions => Topic started by: Lee2 on July 14, 2017, 09:32:42 PM

Title: Social Security benefits set to increase by 2.2%
Post by: Lee2 on July 14, 2017, 09:32:42 PM
Good news for the Americans on this forum, every little bit helps.
Quote
Americans receiving Social Security benefits in 2018 can expect to see the program's largest payment increase in years, according to the trustees report released Thursday.

In January, recipients will receive a $28 monthly increase in benefits, which, although amounts to just 2.2%, is much larger than the 0.3% increase in benefits recipients collected this year.
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Title: Re: Social Security benefits set to increase by 2.2%
Post by: Gray Wolf on September 05, 2017, 02:13:21 AM
Okay, I read the article, and I'm confused. Does everyone get a $28 increase, or do we get a 2.2% increase? It's not the same thing. Even with the average amount they stated, the $28 doesn't add up to 2.2%.
I've never seen an across the board increase of a specific dollar amount. It's always been a percentage increase.
Whatever we get, I'm looking forward to it! More money for my San Mig and Red Horse fund!  :)
Title: Re: Social Security benefits set to increase by 2.2%
Post by: M.C.A. on December 14, 2017, 07:30:10 PM
Glad Lee2 you posted something on this, I've forgotten but that increase sure will help us out.
Title: Re: Social Security benefits set to increase by 2.2%
Post by: bigrod on December 15, 2017, 08:32:21 AM
Understand that most recipients that also pay Medicare will see an increase of the cost from $108 to $134.  So that $26 increase will lower the amount of the SS raise.

Chuck
Title: Re: Social Security benefits set to increase by 2.2%
Post by: Lee2 on December 17, 2017, 03:06:09 AM
Well I just got my notice from SS and it says that I will get a 2% increase but then it shows that my Medicare cost went up from $105 to $129, I had taken SS at 62 which was over 7 years ago, so basically it is more or less a wash for me, I wonder how you all made out?
Title: Re: Social Security benefits set to increase by 2.2%
Post by: Steve & Myrlita on December 17, 2017, 08:53:25 AM
Well I just got my notice from SS and it says that I will get a 2% increase but then it shows that my Medicare cost went up from $105 to $129, I had taken SS at 62 which was over 7 years ago, so basically it is more or less a wash for me, I wonder how you all made out?
Luckily for me, I had Medicare B removed since I won't be moving back but it sucks for the ones who do have it. What good is the raise if Medicare just takes it back?
Title: Re: Social Security benefits set to increase by 2.2%
Post by: bigrod on December 17, 2017, 09:54:43 AM
Luckily for me, I had Medicare B removed since I won't be moving back but it sucks for the ones who do have it. What good is the raise if Medicare just takes it back?

Some do not really have that option.  Myself whether I ever go back to the States or not I need Part B to retain my wife's and my TriCare(military plan), which pays approx 75% for health care here in the Philippines.  In addition any major medical that I was ambulatory enough to get to Guam, Hawaii, west coast, etc., would be basically free since Medicare would pay their share and TriCare would pay the rest.  6-7K php a month to me is a minimal cost for health care coverage for my asawa and I.

Chuck
Title: Re: Social Security benefits set to increase by 2.2%
Post by: BudM on December 17, 2017, 06:22:56 PM
Luckily for me, I had Medicare B removed since I won't be moving back but it sucks for the ones who do have it. What good is the raise if Medicare just takes it back?
The same as "What good is the SSS raise for me?"  I can't apply for Medicare until 12/2018 but since I can't use it here, my freaking health insurance continues to wipe and then some any SSS raise or raise on SSS and pension combined.  I am about ready to just give up on health care and die if need be.  But, there isn't just me.
Title: Re: Social Security benefits set to increase by 2.2%
Post by: Gray Wolf on December 18, 2017, 01:25:36 AM
I haven't seen the cost for Medicare Part B yet, but my Part F supplemental is going up about $16. I'm pretty sure I won't see an additional centavo gain over last year.
Title: Re: Social Security benefits set to increase by 2.2%
Post by: Art, just a re(tired) Fil-Am on December 18, 2017, 05:30:14 AM
I don't foresee a decent COLA increase til my last dying breath, unless U.S. tax reforms can make the difference for all in the near future where  we can all have some extra spending money. If not, we all just have to make do with what we have during the remaining yrs of our retirement or til we all kick the bucket. Fortunately, we personally are doing ok retired here in the Philippines. Just hope all my ducks are in order before I die for my wife's future security and well being.