” The person my wife spoke to indicated that if you start at age 62, in addition to the COLA increases, you could expect other increases based on getting to the age milestones.”
The only thing that happens for certin is your medicare subtraction ( deducted from your SS benefit) goes up and the tax consequences on income change. Max benefit does not.
As an example in 2016 no COLA increase but there is an increase in how much they take out for Medicare (65 and older) so your net SS take home is less.
Gotta pay for those illegals and refugees somehow so Feds save it on the aged.
As an example in 2016 no COLA increase but there is an increase in how much they take out for Medicare (65 and older) so your net SS take home is less.
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because there will no Social Security cost of living increase for 2016, about 70 percent of Part B participants will be “held harmless” and their premiums won’t increase next year. Their premium will remain at $104.90 per month.
For the 30 percent not held harmless, the basic premium will rise to $121.80. This includes people who are not receiving Social Security benefits, those who will enroll in Part B for the first time next year.
http://blog.sfgate.com/pender/2015/11/10/medicare-announces-premiums-deductibles-for-2016/