How much money did you lose after the Social Security benefit increase of 5.9% this year? / myLot

Olney, Illinois

January 26, 2022 8:25am CST

In a typical Government move, Social Security benefit payments in the U.S.A. went up 5.9% at the beginning of 2022. Meanwhile, the amount I pay monthly for Part D drug coverage went up 900% on January 1 2022. (Yes, 900%, that is not a typo) Along with the co-pay I've been charged for my prescriptions so far this month, I am actually at a net loss of about $2. Why am I not surprised?

17 people like this

14 responses

NJ Chicaa

@NJChicaa (106572)

• United States

26 Jan

I feel your pain. My salary went up over the $80,000 mark this year. In NJ teachers have to pay a percentage of the medical insurance premium and it is on a sliding scale based on how much you make. The more you earn the higher a percentage you pay. The brackets are in $10,000 increments. Soooo my earnings increased but they are taking even more out of each paycheck. With that and the increase in the cost of everything I always feel like I'm going backwards.

7 people like this

SomeGuyTyping@InHis.Kitchen

@PhredWreck (7294)

• Olney, Illinois

26 Jan

I am more than just a tad annoyed by it. I thought I'd have a bit more of a 'cushion' with the increase, but nope.

5 people like this

NJ Chicaa

@NJChicaa (106572)

• United States

26 Jan

@PhredWreck as you should be

4 people like this

The Horse

@TheHorse (153102)

• Walnut Creek, California

26 Jan

I think I'll continue to play the role of pauper for now.

4 people like this

Eva James

@wolfgirl569 (53383)

• Marion, Ohio

26 Jan

They always find a way not to truly give anything

5 people like this

SomeGuyTyping@InHis.Kitchen

@PhredWreck (7294)

• Olney, Illinois

26 Jan

Or to give it to big business instead of the average consumer.

5 people like this

Four Walls

@FourWalls (42239)

• United States

26 Jan

@PhredWreck — hey, somebody’s gotta pay for all those “free’ covid vaccines…….

6 people like this

Eva James

@wolfgirl569 (53383)

• Marion, Ohio

27 Jan

@FourWalls

And you know who it always is

2 people like this

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BarBaraPrz

@BarBaraPrz (36582)

• St. Catharines, Ontario

26 Jan

The government giveth and the government taketh away...

5 people like this

The Horse

@TheHorse (153102)

• Walnut Creek, California

26 Jan

No kidding.

2 people like this

Kharla Jolly

@kobesbuddy (148393)

• East Tawas, Michigan

26 Jan

One lady said that she was so happy about her SS raise. They proceeded to take away benefits, thus she has less to live on. I've received a raise in my SS benefits. Only God knows where this amount will be deducted. Probably through the type B Medicare payment. Jay and I are both surviving, that's it.

4 people like this

SomeGuyTyping@InHis.Kitchen

@PhredWreck (7294)

• Olney, Illinois

26 Jan

IL will still pay my part B.

4 people like this

Kharla Jolly

@kobesbuddy (148393)

• East Tawas, Michigan

26 Jan

@PhredWreck My paperwork was goofed up for Part B. The reason, Jay was still working and I had full coverage through Blue Cross. I didn't need a second health insurance, for about five years.

4 people like this

Four Walls

@FourWalls (42239)

• United States

26 Jan

Thankfully, i won’t need Part D because of the VA. And I’m not drawing so-so security yet, either. It’s funny, my health insurance only went up three dollars this year. I guess the benefits went way down, though…..

3 people like this

Ruby Hawk

@RubyHawk (58988)

• Atlanta, Georgia

26 Jan

It wasn’t a real increase at all. Just higher insurance premiums.

2 people like this

SomeGuyTyping@InHis.Kitchen

@PhredWreck (7294)

• Olney, Illinois

26 Jan

That's what mine amounts to

2 people like this

Ruby Hawk

@RubyHawk (58988)

• Atlanta, Georgia

26 Jan

@PhredWreck At least we got a little something to go on insurance.

2 people like this

Kandase

@Kandae11 (44582)

•

26 Jan

900%? Oh wow! What are you going to do?

2 people like this

SomeGuyTyping@InHis.Kitchen

@PhredWreck (7294)

• Olney, Illinois

26 Jan

Pay it. Nothing else I can do.

6 people like this

bonnie

@bunnybon7 (51571)

• Holiday, Florida

26 Jan

@PhredWreck

and go without more things we need.

2 people like this

bonnie

@bunnybon7 (51571)

• Holiday, Florida

26 Jan

exactly. That is what I was just telling my kids. Whoopty doo ! small raise in my check and my insurance was raised on co pays about 50 bucks a month for 2 visits from my different doctors. plus prescriptions cost more.

2 people like this

Juliaacv

@Juliaacv (65534)

• Canada

26 Jan

Our CPP (Canada Pension Plan) deductions went from 5.45% to 5.7% effective the first of this year. There are just so many people who are not working, collecting unemployment due to covid that they need a cash infusion from those of us who are working. Sad to think that those not working, some of which could very well be employed, will reap the benefits from our deductions.

2 people like this

The Horse

@TheHorse (153102)

• Walnut Creek, California

26 Jan

You mean the government is not out there just to help up? And no, I will not ask 900% of what.

2 people like this

Fae Maverick

@Fa_Maverick (8262)

• Australia

14 Feb

with how much things are going up they're going to start taxing you to breathe.

1 person likes this

Anna

@LadyDuck (386562)

• Switzerland

27 Jan

And inflation has not reached its top yet.

1 person likes this

LindaOH

@LindaOHio (91468)

• United States

27 Jan

I'm afraid all of us retirees are in the same boat. It sucks.

1 person likes this

Judy Story

@jstory07 (119192)

• Roseburg, Oregon

27 Jan

The company I worked for for forty years pays my insurance so I get my full Social Security check and the prescriptions did not go up either. Some are even free.

1 person likes this