Health costs issue brief how premiums are changing in 2018 data image png base64 iVBORw0KGgoAAAANSUhEUgAAAHsAAAAVCAYAAABmOZFVAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAAJcEhZcwAAEnQAABJ0Ad5mH3gAAABPSURBVGhD7dExAcAwDMCwdPxZBVj7jIWsxwB8dvdOCN fAJoNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2ZBmQ5oNaTak2YyZByvoA3Lay1 oAAAAAElFTkSuQmCC

How far will your 2013 COLA go? What other options do we have to address Social Security's solvency? Take TSCL's 2013 Senior Survey!.Call your Member of Congress at..Republicans, so far, have been unwilling to go along with any Democratic proposals although there is still bi-partisan work going on in the Senate to try and come up with legislation to lower drug prices..Trump Gives up his Demand for a Payroll Tax Cut.This week, one new cosponsor Rep. Glenn Thompson signed on to the Preventing and Reducing Improper Medicare and Medicaid Expenditures Act, bringing the total up to forty-nine. If signed into law, the PRIME Act would take a number of steps to comprehensively prevent fraud, waste, and abuse within the two programs a problem that TSCL believes must be addressed in order to ensure that scarce program dollars are being spent properly..This week, one new cosponsor Congressman Gregorio Kilili Camacho Sablan signed on to the Social Security 2100 Act, bringing the total up to 16If signed into law, it would extend the solvency of the Social Security trust funds responsibly, without cutting benefits for current or future retirees. The bill currently has more cosponsors than any other comprehensive Social Security reform bill to date, and we hope lawmakers in Congress will consider it seriously in the months ahead..However, for many retirees age 65 and up, most or even all their COLA was offset by rising Medicare premiums and out-of-pocket costs. A recent survey conducted by TSCL found that 48 percent of survey participants reported that, after the deduction for just the Part B premium, their COLA increased their Social Security benefit by less than Another 6 percent of survey respondents reported no increase to their net benefits at all..When Franklin Roosevelt signed Social Security into law as part of.A new analysis by Johnson compared the growth of average benefits since 2009 with what retirees would have received assuming Social Security law provided a COLA guarantee of at least 3 percent, as has been proposed by some Members of Congress, including Representative Eliot Engel. Johnson's analysis found that an average benefit of ,075 in 2009 would be 6.50 per month higher in 2018 - about 17 percent higher - had Social Security recipients been protected by a 3 percent COLA guarantee. Over the past nine years, the average retiree would have received about ,947 more in total Social Security income.

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In 2012, the GPO reduced by two-thirds the Social Security benefits received by nearly 600,000 surviving spouses who also collect a government pension. Nine out of 10 public employees affected by the GPO lose their entire spousal benefit, even though their spouse paid Social Security taxes for many years..for home care, adult day care, as well as assisted living and nursing home care..[2] Social Security: What Would Happen If The Trust Funds Ran Out? Christine Scott, Congressional Research Service, October 21, 2013, RL33514. … Continued

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Calculating the COLA in this manner would remove more of the uncertainty in years of economic recession and high unemployment and it would reflect inflation two ways - the growth in average wages which determine the average benefit, as well as the growth in prices. The national average Social Security benefit tends to rise most years, because new people coming onto the rolls tend to have higher wages than people who retired ahead of them. Indexing using this method would still tend to ensure a small boost to benefits even in years when inflation is so low that no COLA is payable..We normally try to stay away from items that are covered in the news during the week. There would be no point in sending this out of all we did was repeat what you already know. But this time we have decided we need to talk, at least a little, about the subject that has captured the attention of the major and local news media, and the government this week..Rest assured the Consumer Price Index does include food and fuel. Without those two items, the CPI would grow much more slowly than it already does and so would your annual-cost-of-living adjustment. … Continued

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