Reply #13: The current COLA for SS doesn't address the real [View All]

cost of living either. They giveth a COLA raise based on average COL for everything and then they taketh away most of it for an increased Medicare premium based on medical costs alone. The COLA is figured on a formula based on the (average) cost of various things, food, medical, fuel, housing etc for everyone. Say for instance the average COLA is 3% for a year you get a 3% raise in your SS. Then they come at you with an increase based on health care alone that could be maybe 25%, that does not in any way address your true COL. In other words if you received $1000 a month in one year and the COLA increased 3% you get $30 more per month. If say you paid $100 a month for your Medicare and medical costs increase 25% your Medicare premium would increase $25, which gives you a net gain of just $5 or just 1/2 of one percent increase. My mother has been on SS for over thirty years and I have seen this every time she ever recieved a COLA she got a raise in her check and then a good part of it would be taken back for her Medicare Premium.