Occasionally, I choose to rant. This is one of those occasions. If you don’t know, Social Security payment to senior citizens is not a government handout. We paid into the fund for all of the years that we were employed. Sort of like a loan to the government. When we seniors retire the government is supposed to pay us back in the form of a monthly stipend.
Seniors have absolutely no control over the disbursement of these funds. Our monthly allotment is controlled by our governing bodies and is supposedly tied in to the cost of living index in the United States. If our governing bodies don’t think the cost of living has increased sufficiently, we get only a tiny increase or none at all. Last year, our increase was a whopping .3 percent. Two years ago, we received an increase of exactly 0%. Many, many seniors are living on a Social Security income of less than $1,000.00 each month, so one can imagine how important these increases are to us.
Imagine how excited we were that our COLA, or Cost Of Living Adjustment, increase for 2018 will be a phenomenal 2%, the greatest since 2012! A few extra dollars for groceries, or a physician’s co-payment. So much excitement!
Imagine our communal shock when we discovered that, although we are getting a COLA raise, our entire increase is going directly to the increase in our payment for Medicare Part B! Part B, a portion of our Social Security for medical costs, is mandatory for most senior citizens. Our 2018 income is a net increase of $0.
So, Dear Social Security Administrators, thanks for NOTHING!
Until Next Time,