Since 2000, Social Security benefits have lost 23 percent of their purchasing power due to inaccurate inflation adjustments based on the CPI-W. This year, for instance, seniors would be receiving a 2.1 percent Social Security benefit increase if the COLA were based on the CPI-E. Instead, they are receiving a 0.3 percent COLA that is offset completely by increased Medicare Part B premiums..To see if your Members of Congress will be holding town hall meetings in the final days of the spring recess, click HERE or call their local offices. You can find contact information HERE..About one-in-five persons have incomes so low they receive both Medicare and Medicaid. Medicaid benefits can include payment of Medicare Part B premiums and cost sharing. In addition, Medicaid covers benefits that are not covered by Medicare, including nursing home care, and the family caregiving program that is enabling your disabled son and your mom to live with you instead of in a nursing home..How much will the New Year's 1.5% cost-of-living adjustment increase your Social Security benefits? How much did your household budget increase over the past 12 months? Your response is important because the only thing standing between seniors and COLA cuts right now is public pressure on Congress and the White House. Major budget negotiations are underway as the nation faces another government shut-down on January 15th, hitting the debt limit again the first week in February. Members of Congress need to hear how their actions would impact real people like you..The income thresholds for the federal poverty levels are adjusted using a somewhat faster growing index than the one used to determine the COLA. Unlike the Consumer Price Index for Urban Wage Earners and Clerical Workers, which does not survey the costs of people over the age of 62, the Consumer Price Index for All Urban Consumers CPI-U includes the spending patterns of both younger workers and people over the age of 6Consequently the federal poverty limits increase somewhat faster than the CPI-W and today's COLAs. The 2016 poverty levels reflect a 0.1% increase over 2015 rather than zero like the Social Security COLA..Second, Concentrating on High-value Alzheimer's Needs to Get to an End Act of 2018 gained one new cosponsor this week in Senator Chris Van Hollen. The cosponsor total is now up to four. If adopted, S. 2387 would direct the Centers for Medicare and Medicaid Services to create programs that would promote early identification of Alzheimer's disease, improve support for family caregivers, and provide continuous care for those battling many forms of dementia..It's hard to plan your optimal retirement age without a realistic idea of what to expect in lifetime Social Security income. Yet, according TSCL's 2017 Senior Survey, 71% of survey participants said that's exactly the situation they were in when they filed a claim for Social Security benefits. They did not know, and Social Security did not supply any estimate of what they could expect in total lifetime Social Security income based on their choice of retirement age.."At the time of enactment, The Congressional Quarterly referred to this revenue change as 'taxing the benefits of high-income recipients'" says Johnson, citing the publication's summaries of major Social Security changes from 1983-198Social Security's archives state that "Congress intended that the taxation of benefits should not affect 'lower income' individuals." The revenues from the tax on Social Security benefits are credited to the Social Security and Medicare trust funds and provide a growing share of the programs' financing..New Co-Sponsor for Key Bill
