Social Security Benefits To Increase 8.7% In 2023

RedRx

Well-Known Member
I‘m glad the raise is more than a couple of percentage points but I fear it’s not enough. I’m too young to worry about SS yet for myself but I know a lot of seniors rely on SS for their living expenses. What worries me is that I don’t see any kind of inflation relief anytime soon.
 

Tall Timbers

Imperfect but forgiven
I‘m glad the raise is more than a couple of percentage points but I fear it’s not enough. I’m too young to worry about SS yet for myself but I know a lot of seniors rely on SS for their living expenses. What worries me is that I don’t see any kind of inflation relief anytime soon.

Yeah, inflation hits those on a low fixed income who don't have other resources pretty hard.
 

GEOINTAnalyst

Well-Known Member
Basic inflation rates for Oct 2022 compared to a year ago - The consumer price index, a key inflation barometer, jumped by 7.7% in October relative to a year earlier

Food at work + school up 95.2%
Eggs up 43%
Airline fares up 42.9%
Butter up 33.6%
Public transportation up 28.1%
Utility gas service up 20%
https://www.cnbc.com/2022/11/10/heres-the-inflation-breakdown-for-october-2022-in-one-chart.html
so the little bump in Social Security is almost meaningless - Personally I would like to see an end to Social Security - have the government write me a check for all the money I paid in and let me invest it myself - let the individual make their own retirement and get out from under the government
 

Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
Of the things we use a lot of:

Organic olive oil, up over 42 percent this year
Organic garlic powder, up over 28 percent this year
Organic garlic, up over 25 percent this year
Organic fresh produce, up almost 100 percent this year AND quality and availability are down
Grass-fed sirloin, up 30 percent this year when lack of sales considered AND availability is down
Grass-fed hamburger, up over 14 percent this year AND availability down
Organic chicken, up about 100 percent this year AND availability down
Organic lemon juice, up over 86 percent this year when lack of sales considered

Our menu has changed some: we eat less of the more expensive meals and more of the less expensive meals . . . and what we eat is dictated more about availability and quality of fresh, organic produce and availability of grass-fed beef than it used to be. I've also had to go more places to get needed ingredients for special meals, either due to availability or quality.

Fortunately, by eating as clean as possible, our use of OTC and some prescriptions is very minimal. As an example, since I got here and cleaned up my parents' diet, use of one specific prescription inhaler was reduced over 93 percent. Given the copay on that one medication, the savings in two years was over $1000. Savings on one particular OTC during the same time was over $50
My long-term care insurance premiums went up 28.6 percent this year :apostasy :banning

And the water bill has over doubled this year, even though we're using less water :eek :eek: :yikes :apostasy :furious :rant :mad :wild :frust :cry


I am still very thankful - God has been gracious, kind, and generous out of His infinite bounty waaaaaay beyond our needs.


:thankyou JESUS!!! :thankyou


:pray :pray :amen :amen
 
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Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
Basic inflation rates for Oct 2022 compared to a year ago - The consumer price index, a key inflation barometer, jumped by 7.7% in October relative to a year earlier

Food at work + school up 95.2%
Eggs up 43%
Airline fares up 42.9%
Butter up 33.6%
Public transportation up 28.1%
Utility gas service up 20%
https://www.cnbc.com/2022/11/10/heres-the-inflation-breakdown-for-october-2022-in-one-chart.html
so the little bump in Social Security is almost meaningless - Personally I would like to see an end to Social Security - have the government write me a check for all the money I paid in and let me invest it myself - let the individual make their own retirement and get out from under the government

As long as they're spending-spending-spending, they should put all the money that has been stolen/misappropriated/reappropriated from the Social Security Trust Fund, plus interest, back into the Social Security Trust Fund. There would be plenty of cushion to pay what is owed/will be owed if they hadn't repeatedly raided the Trust Fund over the years :tappingfoot

For those with the means to absorb some losses and knowledge to make decent money/financial decisions, even if just picking a good money management company/agent, private works. Unfortunately, the most vulnerable/poorest, who need Social Security the most, are also those most likely to be taken advantage of by unscrupulous, nepharious individuals and companies. Fraud against Seniors and Elderly is already a serious problem, but privatizing Social Security without huge (and expensive) safeguards would likely shift a lot of Social Security payments to welfare after people got taken advantage of and didn't know it until it was time to collect on private retirement accounts :mad

I don't have a problem with Social Security, but I do have a problem turning it into a ponzi scheme by reducing and/or eliminating benefits to those, who paid into it. I also have a problem with illegal immigrants/migrants, who have never paid in, collecting. And I also have a problem with paying former prisoners SSDI based on being over 50 and being incarcerated at least 10 years. Yes, it's harder for convicted felons to obtain gainful employment, but they chose to break the law and they get free training, retraining, educational, and vocational programs in prison. When letting contracts, maybe it's time the government started looking harder at corporations like Google, who refuse to hire convicted felons or retain them when they buy companies who have convicted felons on the payroll :tappingfoot There are a lot of jobs that have no contact with the public, access to private or sensitive information, etc. that there is no good reason to deny hiring or justify firing a convicted felon, who is otherwise qualified (and often already working in the job). And besides, once off probation/parole and satisfying any restitution, the individual has paid his or her debt to society. Systemic continuation of punishment via economic, etc. decreases reintegration into society and productivity, and increases recidivism :tappingfoot As always, common sense, any registration requirements, or loss of professional license prevails. Examples: convicted sex offenders can't work in schools, day cares, or parks, embezzlers can't work at banks or as accountants, "death angels" can't work in nursing homes or hospitals, etc., etc., etc.
 
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antitox

Well-Known Member
Yes, I found out I was being taxed on it as well. But what's worse is you are always at fault. They sent me a letter saying that they paid me too much the year before so they deducted my benefits the following year. So you pay for their mistakes. You can't depend on social security.

Because YOU CAN'T DEPEND ON GOVERNMENT.
 

GEOINTAnalyst

Well-Known Member
Yes, but thankfully, we are both retired military, and we dont have to pay for any other supplemental medical insurance because tricare for life (free) covers whatever medicare does not.
TRICARE For Life is Medicare-wraparound coverage if you are TRICARE-eligible and have Medicare Part A and B, regardless of age or place of residence. Coverage is only for those with Medicare and who are TRICARE-eligible. Coverage doesn’t extend to family members. - So you still have to sign up for parts A & B to get Tricare

1) Enrollment not required
2) Coverage is automatic if you have Medicare Part A and B
3) Your TFL coverage starts the first day that Medicare Part A and B are in effect
4) You must pay Medicare Part B premiums, which is usually the standard monthly fee
5) Coverage is available worldwide
 

Andy C

Well-Known Member
TRICARE For Life is Medicare-wraparound coverage if you are TRICARE-eligible and have Medicare Part A and B, regardless of age or place of residence. Coverage is only for those with Medicare and who are TRICARE-eligible. Coverage doesn’t extend to family members. - So you still have to sign up for parts A & B to get Tricare

1) Enrollment not required
2) Coverage is automatic if you have Medicare Part A and B
3) Your TFL coverage starts the first day that Medicare Part A and B are in effect
4) You must pay Medicare Part B premiums, which is usually the standard monthly fee
5) Coverage is available worldwide
My wife is also retired military so we both have tricare for life with medicare
 

Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
It costs a little more than tricare prime did, and you both get to make that monthly payment.

The letter I got said TFL was free, so long as I have Medicare Parts A and B

I dropped TRICARE Standard when they started requiring premiums, and I missed having an alternative to the VA (without paying a pile out of pocket). Never had Prime because after military retirement I had the VA plus employer insurance until I retired (again)
 
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