I know there is no COLA adjustment for Social Security for 2016. But does this mean Social Security won't send out the letter listing the benefits expected next year? This letter usually is mailed out by Social Security around the second to third week of December. Has anyone received this letter from Social Security yet?
Now, I'm worried letter may have been lost in the mail.
Last year the SS recipients got a raise, but the insurance increased so the monthly check was less than she made the year before. I am glad that she has some money in savings for the upcoming years. The cost of medicine and insurance is frightening when I look at the future for us baby boomers.
People already on Medicare, with premium deducted from their Social Security, premium will remain at 104.90 per month.
For new enrollees, and those whose premium isn't deducted from Social Security, 2016 premium will be 121.80 per month.
Medicare Part A Deductible rises from $1260.00 per benefit period to $1288.00 per benefit period.
Part B Deductible will rise from 147.00 per year to $166.00 per year. Tthe 20% coinsurance for Part B stays, as well as Part B excess charges of an additional 15%, if a doctor not accept "Assignment".
Daily co-insurance amounts will be $322.00 per day for days 61 through 90 for inpatient hospital, and $644.00 per day for Lifetime Reserve days.
For Skilled Nursing Facilities, the coinsurance will rise to $161.00 per day for days 21 through 100, from $157.50.
What really galls me is that, from what I've read here and there, the COLA package and basis has been adjusted (read "manipulated") and doesn't accurately reflect the cost of living, especially for seniors. So there's "justification" for not increasing SS.
I'm betting this goes back to the marathon 2013 filibuster by a certain character who's now running for President (again, ad infinitum?). "Sequestration" resulted in a lot of changes which hit Medicare subscribers.
http://bucks.blogs.nytimes.com/2013/01/07/social-security-benefits-verification-letters-now-online/
Universal health care is a good example. But the AMA and insurance companies certainly didn't want it. The next thing there were the viral emails about how the people who never worked would get the same care as those who work so hard to pay their taxes. And the immigrants would get it. That stirred people up to think the country was for sure on its way to ruin. Then they talked about how Canadians hate their universal healthcare and run to the US to get the better care here.
I know a lot of Canadians and believe me, they think their healthcare is fine. They can pay for private care if they choose without fleeing to the US, but most prefer the state-provided services. A wealthy friend of mine uses the state system. He says it's fine. He told me he does make sure to take out traveler's insurance when he goes to Seattle or Hawaii, because the healthcare system here would wipe him out if something happened.
About the rest of what was written -- people without jobs and immigrants already get free care when they need it.
Still, people turned in droves against the ACA before it even came up on the floor of Congress. And we ended up with remnants that created the mess we have now. And Obama gets blamed. Sheesh.
but ATof3kids, I don't understand what you mean by GA not adopting Obamacare; do you mean they didn't set up a state exchange? AL didn't either; I also don't understand what you mean by having to withdraw an exact amount from your retirement fund but I do understand having to pay dearly for doing it because - I assume you're talking about being younger than 59-1/2 - of your age; we did that as well for other reasons and spent years paying high taxes because of it but I'm curious as to how that enabled you to get the tax credit or again why you had to to get it - my son and dil got it but proving that's your only income shouldn't be a problem, should it...but did you have to stay on Cobra till it ran out - maybe so...like son wouldn't have been able to get on the Obamacare if they hadn't let him go from his job, so maybe that was a good thing but then he didn't wind up on Cobra, so did you have to? but then he didn't have the insurance they offered either; could that be the difference...he couldn't afford it, would have taken all his paycheck, not that that made any difference to the hospital when dil needed surgery, which wondering now what's going to happen; she's been told it's caused other problems but I also don't understand your mom only getting $200 disability; that's far less than SSI; can she not get that? or is that because she's married?
When you are older insurance costs more. I'm 63 and a decent policy for me costs over $900 with bcbs per month and over $700 with Humana. I could get cheaper insurance, but the deductibles are very high.
I would only add that many voters are unwilling to read and learn the facts for themselves, then vote with emotion rather than common sense, and we end up with so-called legislators who do not have the country's best interest in their actions.
And there's always the age-old issue of how much those who have should or could or want to help those who have not, an issue which I'm sure has been addressed by every country or civilization that ever existed, yet still there is no real solution that will satisfy everyone. Probably never will be.