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Name:	lotowner -	Reply
Subject:	SS Cost, 2010 & 2011
Date:	10/26/2009 6:30:16 PM

For the first time in history, the Democratic Congress will not allow an increase in the social security COLA (cost of living adjustment). In fact, The Henry J. Kaiser Family Foundation predicts there may not be any COLA for the next three years..

However, the per person monthly Medicare insurance premium will be increased from the 2009 premium of $96.40 to $104.20 in 201 0 and to $120.20 for the year 2011.

Name:	GoneFishin -	Reply
Subject:	Wrong, Wrong, Wrong
Date:	10/26/2009 6:54:48 PM

Congress has no control over the lack of a COLA increase. Each year SS reviews the change in the inflation index and adjusts the COLA. This year, compared to last year, shows no increaase in the cost of living so no increase in SS. Congress has no say Democratic or Republican.

Built into the Medicare regulation is a little know feature that has not been an issue in the past. The increase in premium cannot exceed the COLA increase. Since there was no increase this year, the medicare premium Will NOT be increased. You can take that to the bank.

Name:	Mack -	Reply
Subject:	SS Cost, 2010 & 2011
Date:	10/26/2009 7:00:03 PM

No big surprise. The boys on the hill are looking for ways to pay for their social health plans. Thus, increase the costs to use it and , soon, very soon, decrease the benefits available.
Sounds about right, huh? Not even a mention of fixing corruption in the system.
Come on November 2010.

Name:	Yankee06 -	Reply
Subject:	Close, Close, Close
Date:	10/26/2009 7:02:16 PM

GF is right in saying that the SS law syncas a rise in SS payment with a rise in consumer price index. If there is no rise in teh index, there is no rise in the SS payment. If however there is a decrese in teh CPI, there will not be a comcomitant decrease in the SS payment.
-However, lotowner is also right. As I understand teh SS law, the law does allow congress, if it so desires, to increase the ss benefit. So I guess the congress doesn't so desire.

Name:	MartiniMan -	Reply
Subject:	SS Cost, 2010 & 2011
Date:	10/26/2009 7:06:54 PM

GF is right about the COLA. It is tied to the CPI and another index called CPI-W. When neither of these increase then there is no COLA. As for the Medicare premium increase this was right from the Medicare website:

Most Medicare beneficiaries will continue to pay the same $96.40 Part B premium amount in 2010. Beneficiaries who currently have the Social Security Administration (SSA) withhold their Part B premium and have incomes of $85,000 or less (or $170,000 or less for joint filers) will not have an increase in their Part B premium for 2010.

For all others, the standard Medicare Part B monthly premium will be $110.50 in 2010, which is a 15% increase over the 2009 premium. The Medicare Part B premium is increasing in 2010 due to possible increases in Part B costs. If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher than $110.50 per month.

So GF is correct for those with lower income levels will not see an increase in 2010 but all those above will. So both of you are partially right and partially wrong.

Name:	GoneFishin -	Reply
Subject:	SS Cost, 2010 & 2011
Date:	10/26/2009 7:30:18 PM

I did not go far enough and I apologize. If your joint income is $170,000 or less there will be no increase in 2010 assuming you were covered in 2009.

For those NOT covered in 2009 who filed a tax return with 2008 income under $170,000, the premium will be the $110.50 per month that Martini posted.

For everyone who had income between $170,001 and $214,000 based on their 2008 tax return, the 2010 prmium will be $154.70. Between $214,001 and $302,000 it will be $287.30. And for those like our good friend Martini, over $428,000 it will be $353.60 per month.

These are based on joint returns. For a single return, the income level is reduced 50% for each level of premium.

Name:	alahusker -	Reply
Subject:	Yup
Date:	10/26/2009 9:31:04 PM

No SS increase this year.. Not a biggy here.. planned ahead, so I can live without more federal money.. But if they continue to increase my taxes, might think about going to Walmart and getting a $10.00/hr job as a cart collector.. Hey, I'm humble..

Name:	Yankee06 -	Reply
Subject:	Nope
Date:	10/27/2009 12:29:32 AM

-maybe some misconceptions above, --some talk of this SS money being "federal money." Not quite.
-Between me and my employers, we paid more than $250,000 into Social security. I will have to live to be 78 to get just that money back. Between now and when I'm 78 they will collect another good amount of SS taxes from me, which I will have to live well into my 80s to collect back. For me, and probably most of you, that SS monthly money is not "federal" money, it's "my"-"your" tax money..

Name:	MAJ USA RET -	Reply
Subject:	Nope Joke
Date:	10/27/2009 10:15:18 AM

Ah! But the joke's on us all. There is NO money... just obligations which our progeny will pay. The money is GONE... as soon as you and your employer paid it.

Name:	au67 -	Reply
Subject:	Nope
Date:	10/27/2009 10:51:09 AM

And most likely, when you start drawing your social security, you'll pay income taxes on a goodly portion of it!

Name:	MAJ USA RET -	Reply
Subject:	Nope
Date:	10/27/2009 4:21:27 PM

Arrrggggh! I hope not. I plan to NOT have any income from wages by the time I start collecting SS.

Name:	GoneFishin -	Reply
Subject:	Poor, Poor MAJ
Date:	10/27/2009 7:25:10 PM

Up to 85% of SS is taxed if you earn over $35,000. Doesn't matter where it comes from. Wagesm investmets, doesn't matter.

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