Through 2012, annual COLA increases have been tied to the increase in the consumer price index for Urban Wage Earners and Clerical Workers. Deficit reduction plans would switch to a more slowly-growing CPI known as the "chained" CPI to determine COLAs. Traditional CPIs measure the increase in prices. But the chained CPI doesn't. It measures consumer spending when prices go up. For example if the price of beef goes up, it assumes people switch to less costly choices, like chicken. The chained CPI measures inflation as growing less slowly than traditional indexes..COLAs act much like interest rates on savings. Low COLAs mean Social Security benefits grow more slowly in retirement. This occurs even though many costs experienced by retirees, such out - of - pocket spending on prescription drugs - may grow several times as fast. "People who have been retired for 10 years or longer have absorbed the full financial blow of low COLAs," Johnson says. Johnson's analysis found that, over a ten - year period, average Social Security benefits of ,075 per month in 2009 lost a total of ,258 in financial growth from 2010 to 2019 when compared to the previous decade when COLAs averaged 3 percent. By the end of that 10 year period, average benefits were 3 per month lower than they would have been had inflation averaged the more typical 3 percent..With just days remaining before the looming deadline, TSCL will be keeping a close eye on the evolving omnibus bill. If lawmakers fail to reach an agreement in time, the federal government would once again shut down, and Social Security beneficiaries could see delays in their monthly checks. In addition, reimbursements for doctors who treat Medicare patients could be interrupted. For updates on the progress of the omnibus over the next few days, visit our page on Facebook, or our new account on Twitter.."New Analysis by The Senior Citizens League Shows 1990s Changes to Social Security Calculations Hurt Today's Seniors".Three Key Bills Gain Support.President Obama set off a firestorm of controversy announcing an ambitious set of "executive actions" to protect illegal immigrants from deportation. The non-partisan Congressional Budget Office recently released a report confirming that many of those affected by the policy changes would be eligible for Social Security, Medicare and a wide array of federal benefits. Here are answers to frequently asked questions about executive action on immigration and how it affects Social Security and Medicare:.By Representative Elijah E. Cummings.Access to the plans is highly variable. While some areas of the country have dozens of Medicare Advantage plans, rural counties often have very limited choices, or as little as just one insurer. Frequently, older and sicker enrollees discover that Medicare Advantage plan out-of-pocket spending due to chronic health conditions, or a hospitalization can be much higher than with a Medigap plan. Medigap supplements cover most, or even all, out of pocket costs..Then, in September, our entire country was appalled when a 32-year-old former hedge fund manager, Martin Shkreli, jacked up the price of Daraprim - a drug used to treat a life-threatening parasitic infection in people with suppressed immune systems like cancer patients and people with HIV/AIDS - from .50 per tablet to 0, overnight.

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If signed into law, S. 2023 would take a number of steps to reduce the cost of prescription drugs, including requiring the Secretary of Health and Human Services to negotiate Part D drug prices, allowing the re-importation of drugs from Canada, closing the "doughnut hole" three years earlier than current law, and prohibiting "pay-for-delay" deals between drug manufacturers..As things are scheduled for now, the Senate will return to the Capitol on Sept. In the meantime, it will be in a "pro-forma session." That happens in the Senate at a time during which no legislative business is conducted. The sessions are held to satisfy a provision of the Constitution that prohibits either chamber from adjourning for more than three days without the permission of the other chamber. When the House or Senate recesses or adjourns for more than three days, both chambers adopt concurrent resolutions providing for the recess or adjournment..Government economists not only changed the math, they changed the underlying concept of the consumer price index itself. While the CPI formerly measured price changes of a fixed market basket of items from one period to the next, today the Bureau of Labor Statistics uses formulas more consistent with a theoretical cost-of-living concept. And because it is theoretical, it uses estimates and produces data that is subject to two revisions. … Continued

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The bill would provide critical savings to millions of older taxpayers with modest incomes below the new threshold amounts. But, as frequently can happen when legislation is under deliberation, progress on the bill was recently put on hold. Lawmakers are considering how the revenues to the Social Security and Medicare Trust Fund would be allocated, and from where replacement revenues lost due to the tax cut would come..This time, with large numbers of hospitals straining to care for COVID-19 patients, cutting payments to hospitals and increasing revenues is likely to be far more difficult. Hospitals across the country say they have been pushed to their financial limit. And simply raising payroll tax rates may not provide enough of a revenue in the short term if unemployment remains at high levels longer than anticipated. Payroll taxes cannot be collected from workers who are unemployed..TSCL worked hard for the Medicare Part B "roll back" last fall which prevented an even larger Part B premium spike in 2016, and stands ready to ask lawmakers to do the same in 201You can help: Contact your Representative in the House and Senators now and ask your lawmakers to take action to stop the Medicare Part B premium spike. Call your lawmakers toll free at or send an email to your Members of Congress. … Continued

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