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Tuesday, January 15, 2019

Because my column usually has a one- or two-week lead time before publication, it’s almost impossible for me to give my readers any real “news” about Social Security. And this was demonstrated once again recently, when the Social Security Administration announced the cost-of-living adjustment, or COLA, for 2012 Social Security checks.

In case you were vacationing in Borneo and missed it, monthly benefits will go up 3.6 percent beginning with January’s Social Security checks. That’s now old news. But other increases tied into the annual COLA adjustment didn’t make most news stories. I’ll share them here.

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8 responses to “COLA News You Might Have Missed”

  1. says:

    Thanks very good infomation.

  2. Joyce Dillenberger says:

    Well, think about it: as soon as the Social Security system gets a COLA raise, magically ALL the drug prices suddenly are subject to market forces that demand the medication prices increase. No connection, just coincidence? We have paid $1000 as our share in prescription costs for my husband just since August, so please–don’t begrudge us the COLA raise. For the last two years we got NO raise at all and the drug prices went up dramatically. For anyone on a fixed income, drug costs are a very large portion of our expenses — unless one is independently wealthy, which despite our careful investments and planning and lifelong hard work, we are not. We are barely making it in this economy. Social Security fails to notice THAT in their COLA formula. It’s never as simple as it seems, and someone is always going to get the short end of things. But let’s raise the ceiling for FICA contributions and raise taxes on the rich who can easily afford it. The rest of us, quite simply, cannot.

  3. Indy 60 says:

    While we get the COLA, Medicare payments go up, drug costs rise, gas and food prices rise. Thank God for the COLA, at least we’ll be a little less behind.
    Two things that really don’t make any sense:
    1. Why do the wealthy get a break and only have to pay on the first $110K but the poor have to pay on all of their income? If the wealthy had to pay taxes on all they make there would be no deficit in SS.
    2. Why can you get prescription drugs cheaper (places like Wal-Mart, etc.) when you have no insurance than when you have Medicare? Before I got SSI and accompanying Medicare, I paid $4 for my prescriptions, now I pay $7 – $46 (depending on the drug). I am switching to a Medicare HMO just to lower my drug co-payment back to $5, I save $52/month but have an increase in insurance payments of $30/mo. This way, I might even get part of the COLA.

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    Viewed using this perspective, the Artistic Cypriot effort to register a Greek Republic in Cyprus in the court judgement around London falls short of logic and may even be deemed mischievous. In case a Greek trial cannot impose a judgement for a property a lot of 25 distance away, how do a BRITAIN court be likely to air travel better?

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  5. kidsarebabygoats says:

    I was forced to join Medicare. I was forced to join Medicare Part D. I was forced to allow a premium for both to be deducted from my meager Social Security Benefit causing my benefit check to less than people on SSI, some who have never worked to earn “the points”. For the first time in my life I had to ask for welfare! What is that about? God Bless America. The home of the free and brave, the land of opportunity and prosperity. Don’t turn 65!

  6. kidsarebabygoats says:

    Advantage programs, au contrere. The televison ads testimonies claim you don’t have to pay a premium. They claim to offer more. They don’t. Medicare pays the premium for you with the medicare premium deductions from your Social Security Benefit. Social Security will pay the “Medicare Advantage Programs” you sign up with. Advantage? DUH!

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