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Medicare - SeniorArk Main Page
Social Security -
SeniorArk Main
Page
Go to:
The Medicare Part D Start Page
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 Will
Seniors benefit from the 2009 stimulus package?
See news
section on
Home Page.
The SeniorArk
Home Page is
where it's happening - FRESH EVERY DAY
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On this page you will find:
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-CPI-W Watch
(used
for 2010 increase--or none)*
-2009 Social
Security COLA Announced
*
-2009
Medicare "B" Premium Announced
*
-2008 Social
Security Cola "Increase" *
(LAST YEAR)
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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
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www.SeniorArk.com
"Seniors
helping Seniors meet the challenges in retirement"
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* 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 2009!!!
September 20, 2008
For the first time since 2000, the standard monthly premium
for Medicare will not increase next year, the federal
government announced Friday.
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, the Centers for Medicare and Medicaid Services (CMS)
said. Medicare insures the nation's elderly and disabled.
The decision to hold premiums
steady results in part from increased reserves in the
Medicare trust fund. The Part B trust fund was reimbursed
$9.3 billion earlier this year after officials discovered
money had been inadvertently drawn to cover hospice benefits
that should have come from the separate Part A hospital
fund.
"In the future, we're going to
have to go back to raising the premiums to match the
increase in expenditures," warned Richard Foster, chief
actuary at CMS.
The standard rate applies to
individuals with income below $85,000 a year.
The whole thing is
explained in a fact
sheet the feds put out this morning.
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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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Last year
*
For checks received in 2008
Social Security COLA
(cost-of-living-adjustment)
This is what you have been
receiving throughout 2008)
The Labor Department
announced a year-to-year CPI
increase of 2.8%, and a core rate
(minus energy and food) of 2.1%.
They have also announced a Social
Security COLA of 2.3% for payment
during the year - 2008.
This number floats on a monthly
basis, based on the CPI (consumer
price index). As of the end of
July that adjustment amount stood
at 2.3%. After a .2%
drop in August (did you feel the
drop?) the number stood at 2.1%.
September was announced
October 17, 2007 at 8:30 AM EDT,
and SeniorArk understands the
final COLA adjustment for next
year to be 2.3%. A
meager adjustment considering the
rising cost of Medicare premiums,
not to mention gasoline,
utilities, food, and on and on. At
2.3%, this would mean only about a
$24 per month increase for the
average recipient, and less for
many. Where are they getting these
CPI numbers? They must not shop
where we do.
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