Social Security Notification

[MineralMan]

Yesterday, I got my notification of what to expect from Social Security in 2012. There was a lot of talk, earlier, about whether there would be any net benefit to recipients from the 3.6% COLA.

There is.

My monthly payment goes up by $45. My premium for Medicare Part B goes down by $10.

That amounts to an additional $500 per hear in my pocket. So, yes, there was a net benefit.

I imagine everyone receiving Social Security got a similar notice. It's working.

[gateley]

1. K&R -- I'm happy to hear it! nt

[Downwinder]

2. I got a net $42.20 /mo increase.

[catabryna]

3. I'm pleased with our COLA increase...

My son and I receive survivor benefits. But, I feel bad that I'm getting an increase in income while the republicans take away unemployment insurance and increase taxes for working Americans. It sort of makes me feel like someone stole from Peter to pay Paul (which happens to be my son's middle name).

*sigh*

[southernyankeebelle]

4. I get about the same in my pocket. I'm not ready for medicare yet.

[RKP5637]

5. Yep, about the same here and pleased. n/t

[Lil Missy]

6. Net $40 increase for me. n/t

[doc03]

7. I got my notification a couple weeks ago. I am

getting $53, I am 63 and not eligible for Medicare. I don't really understand part A B C D, did your total Medicare bill go down $10? Do you know why it went down?

[MineralMan]

11. The premium for Part B is withheld from your monthly payment.

This year, it's $99. Last year it was $104. Part A has no premium. Most SS recipients also buy a supplemental policy from a private insurance company that covers the 20% copay on Medicare-covered stuff. There is also Part D, which is prescription coverage, also sold by private insurers. When you're about to become eligible for Medicare, SS will send you a big, confusing book on Medicare. If you do nothing at all, that Part B premium will automatically be deducted and you'll be automatically enrolled in Medicare Part A and B. For the supplements, you'll have many choices, and you'll get tons of mail from independent agents who will want to hook you up. If you already have health insurance coverage, you'll also hear from that vendor about their supplements. It's complicated, but easy at the same time. The basic supplement policy will cost you around $120/mo. The Part D runs around $30-40. Many options, many plans. It can be confusing.

[Irishonly]

8. I have to find the notice-LOL

My husband and I are both on SSDI. We were pleased. I rolled my eyes at out supplemental or whatever you call it. They raised co-pays on everything. We are hoping for a healthier 2012.

[classof56]

9. Yep, I too was happy to get the notice.

Finally--the long-awaited COLA increase, which coupled with the small Medicare Part B decrease amounts to a net $34 for me, $44 for spouse. Doesn't bump us into the 1%, but I promise it will help the local economy. Barely covers the higher prices every time I shop for groceries, fuel and other necessities of life, but hey--it helps and I'm grateful.

Holiday blessings.

[Bandit]

10. I still work part time as well so this is like getting my cake and eating it too.

I pay less for Social Security through the cut in payroll taxes and yet my check goes up..I wish my own bank account could work this way...Put in less and take out more....and everyone says it doesn't hurt the system..

[pipi_k]

12. $25 per month for me but...

it's better than nothing, so I'm not complaining.