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"The Social Security Cost-of-Living adjustment is official: 3.6%."

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 08:36 AM
Original message
"The Social Security Cost-of-Living adjustment is official: 3.6%."
Calculated Risk

The Social Security Cost-of-Living adjustment is official: 3.6%.

The Contribution and benefit base will increase to $110,100 in 2012 from $106,800.

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MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 08:46 AM
Response to Original message
1. I just found out that my Medicare supplement premium goes up $10 in
2012. I believe there will also be an increase in the Medicare Part B premium. I'm hearing it will be about $8. That still means a small increase in my monthly SS payment.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 09:00 AM
Response to Reply #1
4. Also, Medicare Advantage premiums are will fall
HHS: 2012 Medicare Advantage premiums fall and projected enrollment rises

On average, Medicare Advantage premiums will be 4 percent lower in 2012 than in 2011, and plans project enrollment to increase by 10 percent, the Department of Health and Human Services (HHS) announced today. Of people with Medicare, 99.7 percent continue to enjoy access to a Medicare Advantage plan, and benefits remain consistent with those offered in 2011. This follows an earlier announcement that average prescription drug plan premiums will remain virtually unchanged in 2012.

Thanks to the Affordable Care Act, Medicare is stronger than ever, said Health and Human Services Secretary Kathleen Sebelius. On average, Medicare Advantage premiums will go down next year and seniors will enjoy more free benefits and cheaper prescription drugs.

CMS was able to use authority provided by the Affordable Care Act to protect beneficiaries from significant increases in costs or cuts in benefits in 2012, leading to average premium declines for the second year in a row: 2012 premiums are projected to be 11.5 percent below 2010 premiums.

In 2012, all beneficiaries will have access to Medicare-covered preventive services without paying a co-pay or deductible, including an Annual Wellness Visit with their physicians. Those who reach the donut hole will enjoy deep discounts on brand name drugs and expanded coverage for generic drugs under provisions of the Affordable Care Act.

This year marks an important change in Medicares annual open enrollment, the time period during which people can choose to change plans or shift from Medicare Advantage to Traditional Medicare. Open Enrollment starts earlier on October 15, 2011 and lasts longer (7 full weeks) to give beneficiaries enough time to review and make changes to their coverage. As a result, however, beneficiaries will need to make their elections for next years Medicare coverage by December 7, 2011 rather than the usual December 31. The new open enrollment period will better ensure that individuals have their membership cards in hand and receive uninterrupted health care coverage on January 1, 2012.

<...>
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NavyDem Donating Member (284 posts) Send PM | Profile | Ignore Thu Oct-27-11 08:47 AM
Response to Original message
2. Military Retirement Pay and VA Disability Pay is also going up
3.6%. These are tied to the same indexes as Social Security if I remember correctly.
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newfie11 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 08:57 AM
Response to Reply #2
3. yes they are n/t
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RC Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 09:29 AM
Response to Original message
5. Anyone know what the actual inflation rate is. How much it has increased the last 3 years?
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CountAllVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 09:32 AM
Response to Reply #5
6. this is the info. they go by for the most part
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woo me with science Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 09:35 AM
Response to Reply #6
7. It should have been in the double digits,
had they not rigged the formula. And Medicare will take a big chunk of what they are finally offering after three years.

They are seeking accolades for theft.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 09:42 AM
Response to Reply #7
8. Well
"It should have been in the double digits,"

...it's not, and after two years of zero increases, it should be welcomed news.

Nothing is ever good enough, and I'm sure a higher number would have been met with the same criticism.

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Tarheel_Dem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 10:09 AM
Response to Reply #8
9. +1 (nt)
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Yupster Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 10:26 AM
Response to Reply #7
10. Housing is a large part of the formula so
inflation the last three years has been negligible.
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woo me with science Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 10:37 AM
Response to Reply #10
11. The "formula" has been rigged by corporate thieves,
Edited on Thu Oct-27-11 10:39 AM by woo me with science
And their friend, our President, sought to make it even worse when he proposed chained CPI in April.

Now that it is election season, they seek praise and accolades for increasing the chocolate ration.

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JustABozoOnThisBus Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 12:35 PM
Response to Reply #10
13. House values have gone down in many places, how about rent?
Is rent dropping along with purchase prices?

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-27-11 11:14 AM
Response to Original message
12. More good news
Rise in Medicare premiums less than feared in 2012

<...>

The new Part B premium for outpatient care will be $99.90 a month for 2012, or about $7 less than projected as recently as May.

The bottom line: most seniors will pay an additional $3.50 a month next year, instead of $10.20, as forecast earlier.

Some younger retirees who enrolled recently have been paying up to $115.40 a month. Instead, they'll get a sizable break next year.

<...>

Medicare's Part B annual deductible, the amount beneficiaries pay before their coverage begins, will also drop next year to $140, a decrease of $22.


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