DWs SS went up $68pm - Her Healthcare went up $184!

[ShokWaveRider]

That is ACA with full subsidies at 63. If you are using the ACA and you get SS, How did yours do? Does not seem fair somehow.

 

[Aerides]

If you mean that health insurance increases are not capped at the same COLA rates that SS uses... then... no surprise. HI has always increased at its own rates, typically far higher than average inflation and SS increases, nothing new.

 

[PaunchyPirate]

There isn't any linkage between social security benefits and ACA healthcare premiums. And the COLA used for SS increases isn't specific to the rising costs of healthcare. Plus she's a year older and healthcare premium prices get higher with age. I'm not surprised at all. You should use this year's ACA website and test to see what her rate would have been at age 64. I bet it goes up again.

 

[ShokWaveRider]

I am under no illusion that there is any correlation between SS and HI or the ACA. I will ask my OP question again.

"If you are using the ACA and you get SS, How did yours do?"

 

[CRLLS]

Sorry to hear that. It should not have come as a surprise as both SS Cola and ACA plan rates are announced in time for people to adjust their ACA plans if necessary. Once on Medicare that will not happen. Medicare and SS are somewhat joined at the hip. No matter what the situation, SS's Hold Harmless provision will prevent the monthly SS deposit from being less than the previous year's deposit, not counting supplement or part D costs from reducing the SS monthly benefit from year to year. ACA is a separate system.

 

[REWahoo]

No ACA here, but I want to participate!

DW's SS went up $58/mo and homeowners insurance went up $30/mo.

 

[FANOFJESUS]

I think most ACA plans went up this year. Maybe she can shop around more. Her age is a big factor to. She is near the top of the ACA range. The key for cheap ACA is to get that income down. Was her income the same both years?

 

[kevink]

I think most ACA plans went up this year. Maybe she can shop around more. Her age is a big factor to. She is near the top of the ACA range. The key for cheap ACA is to get that income down. Was her income the same both years?

+1

I just turned 65 and went on Medicare while DW is 58. We've managed our MAGI carefully for years to keep it in the 25-32K range in order to qualify for maximum ACA subsidies. It's not that difficult if living frugally only from investments provided of course you're tax efficient in your choices.

Pre-American Rescue Act our ACA Silver plan was costing us around $180 a month total for the two of us. Now that I'm on Medicare (A & B with a high-deductible Plan G supplement and cheap Plan D) and my wife's on an ACA Silver Plan our monthly costs are more than double that (still cheap compared to many so no basis for complaints). I took SS early too (mistake - will suspend at FRA) and yeah, SS increases in no way relate to health care costs. But we've known for years that we needed to use being on the ACA plans as an opportunity to sock away money for the day we'd both be on Medicare and paying much more in premiums.

 

[aja8888]

No ACA here, but I want to participate!

DW's SS went up $58/mo and homeowners insurance went up $30/mo.

I want to participate too!

My SS went up $70/month (wow!) but my new front tooth (surgery and implant) cost me $5,800+.

 

[Freedom56]

We don't get SS but our Blue Shield Bronze PPO increased from $1497 per month to $1570 per month for both of us and the premiums are still below the 8.5% income limit for subsidies.

 

[W2R]

I want to participate too!

Me too!

My Social Security went up $110/mo and my federal retiree mini-pension went up $38/mo, for a total increase of $148/mo.

My Medicare Part B went up $90/mo (due to IRMAA). No ACA but my federal retiree BCBS went up $9/mo, for a total increase of $99/mo.

So, taking all this into account, overall I have a whole $49/mo more to blow on Amazon in 2022!

 

[jim584672]

I wouldn't take Social Security or pension until 65 at least, ACA sucks at higher income levels.

 

[jollystomper]

I am not going to participate. We are not on ACA and we do not need any more medals .

 

[ShokWaveRider]

I am not going to participate. We are not on ACA and we do not need any more medals .

 

[Mulligan]

I want to participate too!



My SS went up $70/month (wow!) but my new front tooth (surgery and implant) cost me $5,800+.

You can let a back one go and get away with it. But ya gotta buck up and pay to fix them front teeth!
A good year upcoming for me. Pension up about $400 a month. My ACA oddly was going to go down a dollar to $675, but I did better jumping on my GFs plan for free. Just did a bunch of “catch up” tests today, since someone else is paying for it, ha.

 

[aja8888]

You can let a back one go and get away with it. But ya gotta buck up and pay to fix them front teeth!
A good year upcoming for me. Pension up about $400 a month. My ACA oddly was going to go down a dollar to $675, but I did better jumping on my GFs plan for free. Just did a bunch of “catch up” tests today, since someone else is paying for it, ha.

Sounds like you are doing well. Yes, I really needed that new front tooth (#9 position) as my golfing buddies wouldn't be seen with me with it missing.