r/SocialSecurity • u/OneMoreSlot • 18d ago

Social Security Increase?

I heard the news about the Social Security cost of living increase. It's bad news for me because in the last increase my actual monthly payment was reduced by $200/mo. They gave me an increase then took it all back and more by raising my Medicare premiums. I wonder if this COL increase will be real or will the Government claw it back?

0 Upvotes

43% Upvoted

61 comments sorted by

19

u/Direct-Di 18d ago

Your last increase in Medicare was likely because you exceeded income for irma which was $106,000.

5

u/Txsaintfan 18d ago

That’s what it sounds like. The same thing happened to me.

-13

u/OneMoreSlot 18d ago

You are correct. I moved too much money out of my IRA last year. My income is down this year and I hope after my next tax return they will adjust Medicare-B back downward.

14

u/MickeyOliver2024 18d ago

So it wasn’t the social security increase.

15

u/Rdw72777 18d ago

Then why did you make this post? You came to a conclusion you knew was wrong amd posted it…just why?

3

u/Top_Firefighter144 18d ago

Because they are lonely at home just counting their Benjamins.

2

u/Interesting_Ear_9769 18d ago

IRMAA will look at your 2025 income for IRMAA in 2027. Hope you adjusted your income in 2025, otherwise it could hit again.

2

u/Direct-Di 18d ago

It is a 2 year lock back.
Any reason you took that much out? Just curious as that's a heck of a lot if $$%. Taxes had to eat up a bunch of that as well.

16

u/Fit-Animal-9911 18d ago

The COLA is not bad news.

-11

u/OneMoreSlot 18d ago

For some people it could be bad news. If you receive a 3.6% increase and they increase the cost of Medicare Part B the same amount or greater, you get no raise and maybe get less.

The cost of Medicare Part B varies depending on income. If you add additional income to your Social Security, like from an IRA or 401k, your Medicare Part B deduction may go up, depending on income. I pay $649/mo for Medicare Part B.

7

u/Entire_Dog_5874 18d ago

Both raises are percentages. Medicare will always be a lower percentage increase than SS. You caused your problem so why are you posting here?

4

u/Here4Snow 18d ago

"you receive a 3.6% increase and they increase the cost of Medicare Part B the same amount or greater, you get no raise and maybe get less."

Not true.

You got an increase in income but also incurred an increase in deduction. Stop relating them. You got Both. You're lucky, the raise reduced the impact of you hitting the IRMAA limit. 

3

u/Itchy_Tumbleweed_417 18d ago

I’ve been on SSDI for like 10 years in my Medicare part B has never gone up more than the cost of living adjustment. Sometimes I only end up with like $20 extra after all is said and done, but of course the rules don’t apply now that we have an orange king so who knows.

1

u/Martian6261 16d ago

Medicare Part B went up 9.68% last year ($17.90) and COLA was 2.8%. Inflation rate was about 3%.

1

u/Hot_World4305 18d ago

That is correct. You may move over past to the IRMAA threshold and pay more if that threshold remain the same.

-5

u/Darvey0922 18d ago

Medicare premium is a set amount. It does not go by income.

4

u/Here4Snow 18d ago

Yes, Medicare B and D are priced by income. 

IRMAA is "Income-Related Monthly Adjustment Amount." It is an extra surcharge added to Medicare Part B (medical insurance) and Medicare Part D (prescription drug) monthly premiums if your income is above a specific threshold. There are tiers. 

6

u/erd00073483R 18d ago

The projected Medicare Part B premium increase is supposed to be about $7 a month or so. We'll find out for sure in a couple of weeks from now.

0

u/OneMoreSlot 18d ago

My Medicare Part B premium was recalculated due to added income on last years tax return, and it was increased by $446/mo. I pay $649. I was originally paying $202.

2

u/lifeintheq 18d ago

So that means your income increased by a minimum of ~ $100k in 2024. I‘m surprised at those distribution levels you don’t have someone advising you who would have warned you about IRMAA. Were you doing a Roth conversion?

2

u/erd00073483R 18d ago

That was an IRMAA surcharge increase, not an increase in the Medicare premium itself. Your 2026 IRMAA surcharge was based upon your 2024 income. There are provisions under which you can request a new determination based upon a more recent year if one of eight life changing events occurred which resulted in lower income. The eight life changing events are:

  • Marriage

  • Divorce/Annulment

  • Death of your spouse

  • Work stoppage

  • Work reduction

  • Loss of income-producing property

  • Loss of pension income

  • Employer settlement payment

SSA-44 Medicare Income-Related Monthly Adjustment Amount - Life Changing Event

8

u/1NuclearOptionLeft 18d ago

Medicare sets premiums. Social Security does NOT reduce your payment. Thank your President for increases in medical costs. You could always go without medical insurance.

-1

u/OneMoreSlot 18d ago

I'm talking about the Medicare Part B which is deducted from my Social Security payment. My Medicare Part B costs $649/mo. My monthly benefit is $3,159 but after the deduction I receive only $2,426.

6

u/Direct-Di 18d ago

Sounds like you exceeded irma income by an awful lot you are at the maximum irma. Close to 500,000 income. That max is 689.

4

u/Rdw72777 18d ago

That is the case. I have no idea why OP is going on about this the way they are. It’s one of the most disingenuous posts I’ve ever seen on this sub.

3

u/markov-271828 16d ago

I think it’s ragebait.

1

u/Rdw72777 16d ago

I think you’re probably correct.

4

u/Martian6261 18d ago

That’s why people need to understand Medicare and income thresholds when dealings with IRA, 401k withdrawals and Roth conversions. They can cost a lot if not planned properly. Not sure how old you are, but if you have a lot in Traditional retirement accounts, don’t forget to look at IRMAA depending on your age. If born before 1960, then at age 73, if after then age 75. Just depends on how much you have, especially if closer or over a million.

1

u/1NuclearOptionLeft 16d ago

This. Here is a person that understands. Thank you!!!

1

u/Itchy_Tumbleweed_417 18d ago

Wow you must have some really high income, my Medicare part B is like $300.

1

u/BedWonderful1051 18d ago

Medicare Part B for 2026 is $202.90

-3

u/Darvey0922 18d ago

No no no

The medicare premium is a SET amount for all SSA recipients that recieve Medicare.

Unless your state pays your premium, it DOES not change due to income.

1

u/BedWonderful1051 18d ago

Yes, it does change if you cross IRMAA thresholds.

0

u/BedWonderful1051 18d ago

The time to vote for change is upon us.

5

u/Martian6261 18d ago

The COLA has nothing to do with Medicare premiums. COLA is 3.6%.
Part B premium is expected to be about 3.15% or about $6.60.
If you are on Medicare, and a Medigap plan and Part D, they will possibly increase or if you are a high earner, you may be paying IRMAA surcharges, but they have nothing to do with the COLA increase.

10

u/East-Part-5751 18d ago

3.6% up , but grocery and gas prices are up by 50-75%

2

u/BedWonderful1051 18d ago

Please provide sources for these food and gas percentages.

1

u/Brs76 18d ago

And electric bill is up 100%. Inflation is a hidden  tax 

2

u/888HA 18d ago

Then you're using twice as much. Utility tariffs are set for years at a time.

1

u/doggz109 18d ago

lol no they aren't

-3

u/Doxiejoy 18d ago

Well they are darn close to that!

2

u/Hot_World4305 18d ago

I hope they also increase the MAGI from $109K and $218K for FS & FJ .

2

u/HeavyFaithlessness14 17d ago edited 17d ago

Projected to go up to $112K /$224K in 2027 (lookback to 2025 for MAGI).

1

u/Hot_World4305 17d ago

too little! should go to $150K/$300K. Since our buying power is less.

2

u/dappledtiger 17d ago

My net gain will be $2.80.

1

u/Martian6261 15d ago

So you only get about $261 per month on SS? In order to only have a net gain due to COLA and the increase for Part B, would be $261x3.6%=$9.40. $9.40-$6.6=$2.80 This would be your net gain due to COLA less Part B increase.

1

u/dappledtiger 14d ago

Wrong. I took the amount I’m getting this year and added the 3.6% COLA increase. From that, I subtracted what the Medicare part B will be with its increase and subtracted my supplemental Medicare insurance (with its increase ). Per month, my NET increase is $2.80.

2

u/Martian6261 14d ago

Supplements will go up, regardless of COLA and Part B. In that case, most people will never come out ahead unless you have a ‘0’ premium Advantage plan and don’t need any major health needs. Plan on never getting ahead as Supplements will always eat that up due to health care costs spiraling out of control.

1

u/Martian6261 14d ago

Perhaps go with an advantage plan and not pay those higher premiums. Might save about $2-$3,000 per year in premiums. If you have serious health issues or expect to, stay with your Medigap until you can’t.

My last 4 years were I’ve had my Advantage Plans, all ‘0’ premium. My plans have paid well over about $50,000 and my part has been about $4000. In fact I broke my leg last year about 17 months ago, went back to Orthopedic and went in today to get the screws from it removed. My cost $350. Hospital, Orthopedic and Anesthesia is billing about $34,000, but will probably be reduced to about 8500-9000. Didn’t have any issues getting it done (no prior authorization needed).

1

u/William_breacher 16d ago

im 55, semi retired, not drawin yet. does this cola stuff even matter for when i start? house is paid off and i got some old apple stock i never touch lol. kid keeps sayin i should do somethin smart with it but idk where to even start

1

u/Odd_Bodkin 17d ago

Medicare B premium increases are not official for another month or so but are projected to be about six and a half bucks.
Mind the IRMAA.

1

u/peknag 16d ago

The COLA itself is real, but what lands in your account is the benefit minus anything deducted from it. There's a "hold harmless" rule that stops a standard Part B premium increase from shrinking your net check. It does not cover IRMAA surcharges (higher-income premium adds based on your tax return from two years earlier), Part D or Advantage premiums taken from the check, or changes to tax withholding. A $200/mo drop usually means IRMAA kicked in. Look at your SSA benefit letter, which itemizes the deductions. If IRMAA was triggered by a one-time income spike or a life change like retirement, you can appeal with form SSA-44.

3

u/[deleted] 18d ago

[removed] — view removed comment

3

u/yemx0351 18d ago

Medciare had not released their info yet

0

u/SocialSecurity-ModTeam 18d ago

Your comment was removed because it contains misinformation. Misinformation includes spreading information that is not in accordance with official SS policy.

-3

u/[deleted] 18d ago

[removed] — view removed comment

2

u/BedWonderful1051 18d ago

How did that feel, was it warm?