The Social Security Trustees have estimated that there will be no COLA increases for the next two years. Their estimate is based on the assumption that there will be no increase in the cost of living or inflation mostly because the cost of oil is less than 2008. This prediction will affect our Annuity as well.
***A posting on
JULY INFLATION DECLINES 0.2 PERCENT
For purposes of calculating the next COLA (cost-of-living adjustment) the index is currently 2.3 percent below the 2008 third quarter average base index of 215.5. August consumer prices indices will be released on
In spite of what the experts may say in
Our Health Care will surely increase for the year. Our Insurance premiums that we pay after taxes will increase again; plus the cost of Medicare Part B and Part D have increases in the works. Thankfully Part B premiums have a cap on them. Part B (coverage for doctor visits) can not increase more than the increase in the COLA which will be zero for the next two years. Therefore; we are somewhat protected on Part B. Part D (coverage for Drugs) has no cap. Again we as a group are lucky, if we followed the advice of NARFE by not signing up for Part D.
In the end what is the result? You and I lose. We will have much less money to work with next year and most likely the year after. We lose on the COLA; cost of energy, medical care, Property taxes, trash pick up and most things that were “out sourced”. We won on Medicare Part B and if we follow advice of NARFE on Part D. The losses seem to our weigh the small gains.
YOU PAINT A GLOOMY PICTURE AND iT'S TRUE WE WILL ALL HAVE TO ECONOMIZE, HOWEVER, WE MUST ALSO COUNT OUR BLESSINGS. DUE TO OUR AGE, WE PROBABLY HAVE A MORTGAGE-FREE HOME. WE HAVE THE BEST MEDICAL COVERAGE SO WE HAVEN'T GONE BANKRUPT AND WE DON'T HAVE TO WORRY ABOUT LOSING OUR JOBS. WE HAVE TO PRAY CONDITIONS DON'T GET WORSE. WE WILL ALL SURVIVE.
.JPG)
YOU PAINT A GLOOMY PICTURE AND iT'S TRUE WE WILL ALL HAVE TO ECONOMIZE, HOWEVER, WE MUST ALSO COUNT OUR BLESSINGS. DUE TO OUR AGE, WE PROBABLY HAVE A MORTGAGE-FREE HOME. WE HAVE THE BEST MEDICAL COVERAGE SO WE HAVEN'T GONE BANKRUPT AND WE DON'T HAVE TO WORRY ABOUT LOSING OUR JOBS. WE HAVE TO PRAY CONDITIONS DON'T GET WORSE. WE WILL ALL SURVIVE.
ReplyDeleteCECE DOUGHERTY said...
ReplyDeleteYOU PAINT A GLOOMY PICTURE AND iT'S TRUE WE WILL ALL HAVE TO ECONOMIZE, HOWEVER, WE MUST ALSO COUNT OUR BLESSINGS. DUE TO OUR AGE, WE PROBABLY HAVE A MORTGAGE-FREE HOME. WE HAVE THE BEST MEDICAL COVERAGE SO WE HAVEN'T GONE BANKRUPT AND WE DON'T HAVE TO WORRY ABOUT LOSING OUR JOBS. WE HAVE TO PRAY CONDITIONS DON'T GET WORSE. WE WILL ALL SURVIVE.
I DON'T KNOW WHERE PEOPLE GET THE IDEA THAT WE HAVE THE BEST MEDICAL COVERAGE. WE DON'T. I CAN NAME MANY PEOPLE, SOME IN MY OWN FAMILY, THAT WORK IN THE PRIVATE SERCTOR WHO HAVE EQUIVALENT COVERAGE AND PAY MUCH LOWER PREMIUMS. OTHERS WHO RETIRED FROM THE MARYLAND STATE GOVERNMENT HAVE BETTER COVERAGE AND PAY LOWER PREMIUMS, TO BOOT. THERE IS NO DOUBT IN MY MIND THAT OTHERS WHO WORKED FOR STATE GOVERNMENTS HAVE BETTER COVERAGE AND PAY LOWER PREMIUMS THAN FEDERAL RETIREES.
ReplyDelete