A Viewer Writes: Social Security/Medicare increases for 2018
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Title : A Viewer Writes: Social Security/Medicare increases for 2018
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Title : A Viewer Writes: Social Security/Medicare increases for 2018
link : A Viewer Writes: Social Security/Medicare increases for 2018
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Dear Joe,
Uncle Sam has loudly and proudly announced a 2% increase for all Social Security recipients for 2018.
Uncle Sam has NOT loudly and proudly announced the 23% ($25.00 per month) increase for Medicare premiums. 70% of S.S. recipients pay $109.00 per month and this will rise to $134.00 per month in 2018.
The average S.S. check is $1,371.00 per month and will increase $27.00 to $1,398.00 for an annual increase of $324.00.
Now subtract the Medicare increase of $25.00 and the S.S. check in now down to $1,373.00 or a net gain of $2.00 per month.
For many recipients the annual increase of $324.00 will be subject to State (where applicable) and Federal taxes. Considering the net annual increase is only $24.00, any State or Federal taxes will wipe out the $24.00 and thus result in a NET LOSS of income for year 2018.
Best Regards from,
Going backwards in income
Uncle Sam has loudly and proudly announced a 2% increase for all Social Security recipients for 2018.
Uncle Sam has NOT loudly and proudly announced the 23% ($25.00 per month) increase for Medicare premiums. 70% of S.S. recipients pay $109.00 per month and this will rise to $134.00 per month in 2018.
The average S.S. check is $1,371.00 per month and will increase $27.00 to $1,398.00 for an annual increase of $324.00.
Now subtract the Medicare increase of $25.00 and the S.S. check in now down to $1,373.00 or a net gain of $2.00 per month.
For many recipients the annual increase of $324.00 will be subject to State (where applicable) and Federal taxes. Considering the net annual increase is only $24.00, any State or Federal taxes will wipe out the $24.00 and thus result in a NET LOSS of income for year 2018.
Best Regards from,
Going backwards in income
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You are now reading the article A Viewer Writes: Social Security/Medicare increases for 2018 With link address https://newstoday-ok.blogspot.com/2017/10/a-viewer-writes-social-securitymedicare.html