SSI increases by 2.3 percent in 2008

[Barb]

Monthly Social Security and Supplemental Security Income benefits for more than 54 million Americans will increase 2.3 percent in 2008, the Social Security Administration announced today.

Social Security and Supplemental Security Income benefits increase automatically each year based on the rise in the Bureau of Labor Statistics' Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), from the third quarter of the prior year to the corresponding period of the current year. This year's increase in the CPI-W was 2.3 percent.

The 2.3 percent Cost-of-Living Adjustment (COLA) will begin with benefits that nearly 50 million Social Security beneficiaries receive in January 2008. Increased payments to more than 7 million Supplemental Security Income beneficiaries will begin on December 31.

Some other changes that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $102,000 from $97,500. Of the estimated 164 million workers who will pay Social Security taxes in 2008, nearly 12 million will pay higher taxes as a result of the increase in the taxable maximum.

Information about Medicare changes for 2008 can be found at www.cms.hhs.gov (http://www.cms.hhs.gov/).

[lisamarie6801]

Hey, I'm new to the site so I'm just now checking out all these posts! Speaking of SS, here's been our recent experience!:mad:Once I divorced I knew I would need to be making much more money to support us all on one income. I was busy attending college for Psychology and all this kind of came crashing down on me. So I took a quick 18 month course at a local community college with a 95% hire rate making good money as an aircraft mechanic! So I enrolled and the 18 months flew by. I hired on at our local air force base. They start you out at around 13.50 at 30 hours per week until you complete 640 hours. (An internship in a way) At the completion of those hours, you go full time @ 40 hours per week and your pay bumps up to a minimum of 18.50 an hour......(Great for OK!). So I called SS to report the changes. This was March of 06. I went into SS for an "Update Appointment" in March of this year. Come to find out, 2 years ago when I called to report the income changes, the worker never put it in the system!!! My daughter at that point no longer qualified and now we have an over payment of $12,000!!! I was devestated at first...wondering how I am going to get this taken care of. Now that a month has passed for it to sink it, I'm outraged!! This woman (case worker) does this for a living! Just because she had a busy day or w/e the case may of been, our family is now responsible for a 12k debt! I make great money but still, for a single mom with 4 kids, 12k is a BIG PROBLEM to fit in the monthly income! I am in the process of filing an appeal and hiring an attorney. We'll see how it goes. Just a note to ALWAYS do it in writing!:eek:

[angel]

I always hated SSI. I was on it most of my life cause i was raised by a single mom. When i started working i reported my income right away. It took them OVER A YEAR to get the process through then i get a letter in the mail about a huge overpayment as well. Just one of the many horrors i have gone through with them and don't even get me started on medicaid!!!!!!!!! I am happy to not qualify for any of it anymore. I would rather work myself into the ground than deal with those people ever again!!!!