Good News, Bad News About Social Security Raise
The news about a raise in Social Security is wonderful news, but I am curious when they will announce the raise in the cost of Medicare. That happened the last time we received a raise in S.S. – Lois, Graniteville
As a senior, why is it every time our social security check goes up with a raise, our Medicare goes up as well, so in reality we seniors gain NOTHING? – Bob, Leominster
Lois and Bob are spot on.
The government announced today that Social Security recipients will get a 3.6% raise next year which is the first time they’ve gotten an increase since 2009. That’s the good news. The bad news…. some of that increase will be lost to higher Medicare premiums which are deducted from Social Security payments. Medicare Part B premiums for 2012 will be announced next week and recipients can expect an increase, but we don’t know how big.
What do you think? Seniors get a raw deal? Or they should pay more of their health care costs?