Social Security and Medicare For 2024

I have been watching the news for information stating how much Social Security will increase next year but ended up just now looking it up for myself.
SSA gov

Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024.

I also looked up how much the Medicare premiums will increase.
CMS gov

Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. The standard monthly premium for Medicare Part B enrollees will be $174.70 for 2024, an increase of $9.80 from $164.90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023.

Truthfully, I expected the Medicare premiums would probably swallow up most of the SS increase but was pleasantly surprised to see that it will leave a little extra to compensate for at least a little of the inflation from this past year.

Even so, I don't see the SS COLA increase covering all of the inflationary pressures we experienced overall from this past year.

a reply to: charlest2

And then I think of the 100+ billion we, our government, have spent on killing Russians and Ukrainians and I get pissed.

After a 150% price increase and inflation on top of that, people are getting a WHOPPING 3.2% increase in benefits.

Money that was worth more when it was paid in, than now, as it's being paid out.

#GovernmentForTheWin

a reply to: charlest2

Social Security and Medicare For 2024

Looks like the GOP wants to trash Medicare and SS.

www.businessinsider.com...

www.forbes.com... fc2b313ef5


This just gave the dembs more facts to use in their Campaigne ads come "24"....is alarming the senior citizens a good idea? They vote, and health issues is a big deal to them.

a reply to: lilzazz

Where does it say how much they want to cut?

originally posted by: WingDingLuey
a reply to: lilzazz

Where does it say how much they want to cut?

Does it really matter? It's the principal of the thing.... Reducing SS or Medicare by any amount is a death spiral for the GOP; right up there with the Roe v. Wade cluster ****!!

I don't understand how marginalizing large sections of the electorate [seniors, women and the educated] works to win elections.

a reply to: lilzazz
Oh we all agree that it is stupid for the US to attempt to protect unborn Americans. It is very unpopular in the poles. These are very important sacrifices to Satan. We don't want to anger the Devil or those who follow in lock step.

a reply to: charlest2

They are throwing us crumbs and laughing at us because they know that most people will bend over take.

The phrase "taxation without representation" comes to mind.

a reply to: lilzazz

I'm not seeing anything that proves they want to lower SS and Medicare. Are there any Bills pending?

a reply to: WingDingLuey

SS will come to a screeching halt when the government finally bankrupts the nation and defaults on it's debts.


Any day now!

what if an alternate system to preserve the purchasing power of our pay ins could be to pass a law that allocates a set percentage of our SS Tax goes to physical gold holding? Maybe we can refill Fort Knox with our actual retirements. I mean I do understand the value of gold fluctuates, but fiat ALWAYS loses value over time.

a reply to: charlest2

Sucks to get OLDER...Not old. When you get excited about a little increase in Social security with hardly any increase in part B, you know you have too much time on your hands. At least there is enough extra to cover some of the increases in everything.

originally posted by: WingDingLuey
a reply to: lilzazz

Where does it say how much they want to cut?

Not in that article, but in a more recent one:

"The House Republican Study Committee (RSC), a caucus of 176 House Republican members, has proposed multiple harsh changes to Social Security in its fiscal year 2024 budget. Although the budget is vague on details, a press conference held by the RSC Spending and Budget Task Force and reporting from Roll Call indicate that the budget proposes to raise the retirement age at which Americans can receive full Social Security benefits to 69. This would cut the benefits of future beneficiaries by about 13 percent. The budget also recommends two harmful benefit cuts for future beneficiaries of the Social Security retirement program, and it would make harsh changes to the Social Security Disability Insurance program. Together, these proposals would cut $718 billion over 10 years from the Social Security program and mean further spending reductions in later years."

www.americanprogress.org...#:~:text=Benefits%20wou ld%20be%20cut%20by,to%20cut%20Social%20Security%20benefits.”

originally posted by: worldstarcountry
what if an alternate system to preserve the purchasing power of our pay ins could be to pass a law that allocates a set percentage of our SS Tax goes to physical gold holding? Maybe we can refill Fort Knox with our actual retirements. I mean I do understand the value of gold fluctuates, but fiat ALWAYS loses value over time.

I'm all for precious metals like brass and lead, those are always in high demand and will preserve much.

originally posted by: WingDingLuey
a reply to: lilzazz

I'm not seeing anything that proves they want to lower SS and Medicare. Are there any Bills pending?

What does this look like to you? Do you think this will help the GOP get more votes or less?

My 85 yr old mother, Christian, Republican, conservative said she will not vote for anyone that touches Medicare. And so did her bridge club, all elderly women.



www.businessinsider.com...

www.newsweek.com...

thehill.com...

a reply to: Boomer1947

The "future" cuts are not cuts because they would be based on payments that include "future" COLA raises right?

It's all relative if it's in the distant future. 😀

originally posted by: worldstarcountry
what if an alternate system to preserve the purchasing power of our pay ins could be to pass a law that allocates a set percentage of our SS Tax goes to physical gold holding? Maybe we can refill Fort Knox with our actual retirements. I mean I do understand the value of gold fluctuates, but fiat ALWAYS loses value over time.

Gold not stable enough.

Look at The DOW30 and notice there's never been an inflationary loss for any 30 year period. In fact it's well over the inflation rates, and shows huge "profit". Think how that could supplement a retirement income, especially if it bases on an 18 year old start and a 65 year old retirement (47 year gains per year starting at 65).😀

originally posted by: lilzazz

originally posted by: WingDingLuey
a reply to: lilzazz

I'm not seeing anything that proves they want to lower SS and Medicare. Are there any Bills pending?

What does this look like to you? Do you think this will help the GOP get more votes or less?

My 85 yr old mother, Christian, Republican, conservative said she will not vote for anyone that touches Medicare. And so did her bridge club, all elderly women.



www.businessinsider.com...

www.newsweek.com...

thehill.com...

Why are you drifting the subject now? 😀

a reply to: lilzazz

Crazy Republican woman from South Carolina wants to raise Social Security retirement age to collect to 72. Shes F ing nutz. Nickki Haley.

What a way to stick it to generation whatever

originally posted by: AwakeNotWoke
a reply to: charlest2

They are throwing us crumbs and laughing at us because they know that most people will bend over take.

The phrase "taxation without representation" comes to mind.

As our government pours millions of dollars out for illegals and their healthcare and living expenses, which they are getting free, they also want to cut social security for citizens?
Well I guess they have to get the money somewhere, so not only do we get to pay for illegals, we will also not get social security when our time comes?
Taxation without representation is absolutely correct!