Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 10-21-2016, 10:49 PM   #41
gone traveling
 
Join Date: Aug 2006
Posts: 994
Quote:
Originally Posted by ExFlyBoy5 View Post

The lowest ever? Ummm...no. It was ZERO in 2009, 2010 and 2015.

https://www.ssa.gov/oact/cola/colaseries.html


Zero years can't qualify for lowest COLA.
In those zero years there was no COLA.
You might call them the UnCOLA

.
Helena is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-21-2016, 11:07 PM   #42
gone traveling
 
Join Date: Aug 2006
Posts: 994
Quote:
Originally Posted by MichaelB View Post


This is not happening. That is to say, it did not happen in 2016. The 30% are not paying any additional premium and are not making up for the increase not paid by the other 70%.

Those who turned 65 this year are paying more for Medicare B coverage than most of those who turned 65 in previous years because those who turned 65 this year are not in the main "hold harmless" group until 2017. But even then they will still be paying more. Those who turn 65 in 2017 [ME!] will pay even more than the 2016 group... and on and on and on... In other words, the year you begin Medicare you are not "held harmless." Also in the 30 percent [NOT held harmless] group are those who delay SS and high earners.

The articles I first posted discuss all these special situations.

.
Helena is offline   Reply With Quote
Old 10-22-2016, 07:32 AM   #43
Full time employment: Posting here.
 
Join Date: Sep 2007
Posts: 959
Quote:
Originally Posted by Helena View Post
Those who turned 65 this year are paying more for Medicare B coverage than most of those who turned 65 in previous years because those who turned 65 this year are not in the main "hold harmless" group until 2017. But even then they will still be paying more. Those who turn 65 in 2017 [ME!] will pay even more than the 2016 group... and on and on and on... In other words, the year you begin Medicare you are not "held harmless." Also in the 30 percent [NOT held harmless] group are those who delay SS and high earners.

The articles I first posted discuss all these special situations.

.
Just looking at the finances it is clear that both SS and Medicare are unsustainable and are headed for a big crack-up if they stay as they are. Forget the political aspect, just look at the financial aspect.

Given that, it seems silly to make plans that depend on SS & MC staying unchanged. Yet that is what delaying SS does -- makes a plan for getting an increased benfit later in return for zero benefit now. When there is a large probability of an unpredictable change you should include that possibiity in your plans.

When making plans to delay SS to get the deferred credits, nobody considered that this would require them to pay a higher Medicare premium. That cost is the direct result of deferring SS.

The obvious question is "We just got a completely unexpected cost of delaying. What *other* unexpected costs may be lurking that we aren't seeing?" Bad news never is just one item -- bad news comes in groups.



Some (not all, but some) people who decided to defer SS kinda got a holier-than-thou attitude. They figured that there was no financial risk to deferring to get the extra 8%/yr. But now we see that there was a risk. Deferring cost them $17/mo in 2016, and an unknown monthly amount in 2017 & beyond. It will probably be $40/mo in 2017.
And that's a big point -- nobody knows what this extra cost will be.
rayvt is offline   Reply With Quote
Old 10-22-2016, 10:35 AM   #44
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Quote:
Originally Posted by rayvt View Post

...

The obvious question is "We just got a completely unexpected cost of delaying. What *other* unexpected costs may be lurking that we aren't seeing?" Bad news never is just one item -- bad news comes in groups.

Some (not all, but some) people who decided to defer SS kinda got a holier-than-thou attitude. They figured that there was no financial risk to deferring to get the extra 8%/yr. But now we see that there was a risk. Deferring cost them $17/mo in 2016, and an unknown monthly amount in 2017 & beyond. It will probably be $40/mo in 2017.
And that's a big point -- nobody knows what this extra cost will be.
I don't know that those delaying SS have a "holier than thou" attitude as much as everyone is just trying to plan the best they can. What's actionable here--and to your point that "bad news comes in groups"--is to incorporate margins of safety into whatever plan one comes up with. Given so many unknown and unknowable variables exist in retirement planning, the prudent course of action is to expect plans to go awry and plan accordingly. Otherwise known as incorporating a generous portion of "padding" into one's retirement budget.
Options is offline   Reply With Quote
Old 11-11-2016, 06:21 AM   #45
Full time employment: Posting here.
 
Join Date: Jan 2014
Posts: 991
2017 Standard Medicare Part B Premium: $134.00

2017 Part B Deductible: $183.00

2017 Part A Deductible: $ 1316.00

Reference: https://www.medicare.gov/your-medica...at-glance.html

2017 IRMAA premiums (scroll toward bottom of page): https://www.medicare.gov/your-medica...t-b-costs.html
MBSC is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Noticed more people holding signs "need work or food" rayinpenn Other topics 3 05-03-2015 02:51 PM
COLA Watch...No COLA in 2011? mickeyd FIRE and Money 6 09-23-2010 07:48 AM
Formula to convert partially-COLA'd pension to equivalent COLA'd amount? kyounge1956 FIRE and Money 17 11-23-2009 10:32 AM
Cap & Trade, Taxes & COLA's crazy connie FIRE and Money 7 10-20-2009 08:53 PM
Scott Burns: Medicare premiums rise faster than Social Security COLA Nords FIRE and Money 1 06-07-2006 04:44 PM

» Quick Links

 
All times are GMT -6. The time now is 03:06 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.