January 2020 Social Security increment 1.6%

[dado potato]

Approximately 67 million Americans who are receiving Social Security benefits will receive an increase of 1.6% next year.

As my Old Dad would say, "It's better than nothing."

[Rogar]

Or, that and a quarter will buy you a cup of coffee.

I think seniors incur a higher rate of inflation than the standard government figures for the rest of the population, but that's a mostly mute subject.

[Teacher Terry]

Wow a whole 6 bucks for me:((

[Tybee]

Wow a whole 6 bucks for me:((
Mine is going up 15, but I don't have a pension and a windfall situation. I love that phrase "windfall"--like you worked all those years and Ed McMahon drove up to give you money out of his car.

Part of a tank of gas for my fuel economy car?

[Teacher Terry]

Tybee, the windfall provision makes sense when someone has many years of service. People that worked some in each get hurt but wow your SS is small.

[Gardnr]

Well, here's more good news-NOT: As of now, it looks like the 2020 Medicare Part B premium will be $144.30. That's an increase of $8.80 from 2019. The Part B deductible is projected to increase from $185 to $197 in 2020. The Part A deductible is projected to increase from $1,364 to $1,420 in 2020.