[NFBMO] One small Correction: Social Security /Medicare changes for 2023

[mizzoufan1979 at gmail.com]

Some one held his finger down on the number 6 too long!

The figure to earn a quarter of coverage is $1,640 for 2023. 

 

From: NFBMO <nfbmo-bounces at nfbnet.org> On Behalf Of Eugene Coulter via NFBMO
Sent: Thursday, October 13, 2022 2:01 PM
To: 'NFB of Missouri Mailing List' <nfbmo at nfbnet.org>
Cc: mizzoufan1979 at gmail.com
Subject: [NFBMO] Social Security /Medicare changes for 2023

 

The centers for Medicare and Medicaid services and Social Security have
released updates for 2023.

Good news for the first time in ten years there will not be an increase in
the standard Medicare premium, in fact it will decrease.

Currently the premium is $170.10 in 2023 it will go down to $164.90 or a
decrease  of $5.20.

Also, for those paying for  prescription  drug, Part D, in most cases the
premium will also likely decrease 

Social Security checks will increase by 8.7%.

SSI for individuals will go from $841 to $914 and couples from$1,261 up to
$1,371.

SGA for blind recipients will go from $2,260 to $2,460 a month.

For non-blind SGA will go from $1,350 to $1,470.

Trial work period month will be counted for earnings exceeding 1,050.

The only negative news for most of us is that to earn a quarter  of coverage
toward being eligible for Disabillty benefits in 2023 you need to earn
$16,640 which is up from $1,510. 

 

If you want to figure your 2023 check amount follow the steps below.

Note: due to Social Security rounding rules the amount you calculate maybe a
couple of dollars different than what you figure.

Add your current check amount together with the current Medicare premium of
$170.10

Then multiply that figure by 1.087

Next, subtract the new Medicare premium of $164.90 

Finally discard any cents and you have a reasonable estimate of your new
amount.

Here is an example.

Betty Lou's 2022 check is $1,201 

Add her premium of $170.10 getting 1,371.10

Multiply $1,371.10 by 1.087 to get $1,490.38

>From 1,490.38 subtract $164.90 giving a result of $1,325.48Discarding the
pennies gives Betty Lou an estimated check of $1,325.00

 

Hope this is informative

 

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