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on
www.SeniorARK.com
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From how to save money on
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Medicare - SeniorArk Main Page
Social Security -
SeniorArk Main
Page
Go to:
The Medicare Part D Start Page
Page updated July 16, 2010
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NOTE: Democrats have
proposed a one-time payment of $250 to Seniors for 2010,
and it has not passed, mostly because of blocking measures
from the other party. See the article on our
HOME page for details, and what
you can do about it.
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On this page you will find:
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-Comment on 2011
COLA*
-2010 Social
Security COLA *
-2009 Social
Security COLA
*
-2010
Medicare "B" Premium
*
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Special Note to Seniors:
Welcome to SeniorArk! Thousands of you are finding this page
while searching for COLA and Part B information.
After reviewing those
items, please take a couple minutes to have a look
around our site. We are a SENIOR
resource site like nothing you have ever seen.
Enjoy!
SeniorArk
Volunteers
www.SeniorArk.com
"Seniors
helping Seniors meet the challenges in retirement"
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Can you guess what the average Senior receives monthly in
Social Security benefits?
Click for Answer
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*2011
Social Security COLA
(Read:
Explanation of exactly how the COLA is figured)
July 16, 2010 -
We are now in the critical
period when the COLA for 2011 is determined. The CPI-W
for July, August, and September of 2010 will be compared
to the CPI-W for July, August and September of 2009 to
determine whether there will be an adjustment for 2011.
How this is done, has been determined by law for many
years.
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*2010 Social Security COLA (no
cost of living adjustment)
(Read:
Explanation of exactly how the COLA is figured)
October
15, 2009, (September CPI-W)
On a seasonably adjusted
basis, there was a net decrease in the CPI-W
July-September 2009, compared with the same period
in 2008. This means there will be no change in the
Social Security payments in 2010. Even so, some
Seniors' checks could be affected.
How will this affect my
check?
Recent press releases from the Social Security
Administration web site.
NOTE: Democrats have proposed a one-time payment
of $250 to Seniors for 2010, and it has not
passed, mostly because of blocking measures from
the other party. See the article on our
HOME
page for details, and what
you can do about it.
SeniorArk.com
"Seniors
helping Seniors meet the challenges in retirement" |
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This section shows what happened for 2009
* 2009 Social Security COLA (cost of living adjustment)
(Read:
Explanation of exactly how the COLA is figured)
October
16, 2008, (September CPI-W)
On a seasonally adjusted
basis, the CPI-W decreased 0.1 percent (1/10 of one
percent) in September, following a 0.9 percent
increase in July, and a .2 decrease in August.
The final CPI-W increase from
the 3rd quarter of 2007 to the 3rd quarter of 2008
is
5.8%, on a seasonally adjusted basis. This is
the number that has now been used to announce the
2009 Social Security COLA.
How will this affect my check?
SeniorArk.com
"Seniors
helping Seniors meet the challenges in retirement" |
Despite a small increase, at least five
million people aged 65 and over will remain in poverty, since
senior costs are rising significantly faster than the annual
Social Security Cost of Living Adjustment (COLA).
See:
What
is the CPI, how is it figured, and why the heck do I
care??
and:
Does the CPI reflect what
Seniors must actually spend?
and:
Explanation of exactly how the
2009 COLA was figured
and:
He supports
fair Social Security
Increases to
Reflect Seniors' Higher Costs of
Living
and:
A simple explanation of inflation
and CPI
SeniorArk.com
"Seniors helping Seniors
meet the challenges in retirement"
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*Medicare
Part "B" Premium: No increase for 2010,
----and probably none for 2011
Updated July 16, 2010
The standard monthly premium
for Medicare will not increase in 2010, the federal
government has announced.
Premiums for Part B coverage,
which pays for physician and outpatient care, some home
health services and medical equipment, will remain $96.40 a
month for the third year in a row, the Centers for Medicare and Medicaid Services (CMS)
said. Medicare insures the nation's elderly and disabled.
This premium cannot increase
for most Seniors, by law, if there is no increase in the
COLA.
The standard rate applies to
individuals with income below $85,000 a year.
For those earning over $85,000
per year ($170,000 for couples) there may be an increase
based on increasing costs. See medicare.gov site for more
details.
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The 2009 Part B monthly premium rates
to be paid by beneficiaries who file an individual tax
return (including those who are single, head of
household, qualifying widow[er] with dependent child,
or married filing separately who lived apart from
their spouse for the entire taxable year), or who file
a joint tax return are:
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Beneficiaries who file an individual tax return
with income: |
Beneficiaries who file a joint tax return with
income: |
Income-related
monthly adjustment amount |
Total monthly
premium amount |
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Less than or equal to $85,000 |
Less than or equal to $170,000 |
$0.00 |
$96.40 |
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Greater than $85,000 and less than or equal to
$107,000 |
Greater than $170,000 and less than or equal to
$214,000 |
$38.50 |
$134.90 |
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Greater than $107,000 and less than or equal to
$160,000 |
Greater than $214,000 and less than or equal to
$320,000 |
$96.30 |
$192.70 |
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Greater than $160,000 and less than or equal to
$213,000 |
Greater than $320,000 and less than or equal to
$426,000 |
$154.10 |
$250.50 |
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Greater than $213,000 |
Greater than $426,000 |
$211.90 |
$308.30 |
In addition, the monthly premium
rates to be paid by beneficiaries who are married, but
file a separate return from their spouse and lived
with their spouse at any time during the taxable year
are:
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Beneficiaries who are married but file a
separate tax return from their spouse: |
Income-related
monthly adjustment amount |
Total monthly
premium amount |
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Less than or equal to $85,000 |
$0.00 |
$96.40 |
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Greater than $85,000 and less than or equal to
$128,000 |
$154.10 |
$250.50 |
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Greater than $128,000 |
$211.90 |
$308.30 |
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