Results 1 to 4 of 4

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

  1. #1
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    94,973

    No benefit increase for Social Security next year

    Government: No benefit increase for Social Security next year

    Robert Powell, Special to USA TODAY10:57 a.m. EDT October 15, 2015


    (Photo: Getty Images/iStockphoto)


    As expected, the Social Security Administration announced Thursday – for just the third time since the automatic adjustments were adopted in 1975 – that some 65 million Social Security recipients will not receive a cost-of-living adjustment (COLA) in 2016.

    In addition to not seeing an increase in their benefits, the lack of a Social Security COLA will also cause a flap in the Medicare program because, by law, the cost of higher Medicare Part B premiums cannot be passed on to most beneficiaries when they do not get a raise in their Social Security benefits, according to the Center for Retirement Research.


    According to Social Security’s “hold harmless” law, 70% of Medicare beneficiaries will pay the same Medicare Part B premium in 2016 as they did in 2015, $104.90.

    But 30% of Medicare beneficiaries could see their Medicare Part B premium rise more than six times the rate of health-care inflation, unless Congress changes the hold harmless law or the Centers for Medicare and Medicaid Services (CMS) decides against the increase.


    At the moment, most of the not-held-harmless Medicare beneficiaries will see their premium rise 52% to $159.30 per month ($318.60 for married couples). But individuals whose incomes exceed certain thresholds (about 5% of all Medicare beneficiaries), could see premiums rise to anywhere from $223.00 per month up to $509.80 (or $446 to $1,019.60 for married couples). What’s more, the Medicare Part B deductible will rise from Read Medicare Part B premiums to rise 52% for 7 million enrollees.


    “The Part B premium for 2016 will be announced this fall, as it usually is,” says a CMS spokesperson. “The law does not give HHS the authority to extend the hold harmless provision to all Part B enrollees.” Over the past two years, CMS announced Part B premiums in October.

    The culprit behind the lack of a COLA adjustment: Low inflation. The consumer price index for Urban Wage Earners and Clerical Workers (CPI-W) did not rise enough in the base period – the 12 months ended September 2015 – used to determine the COLA, according to a report by the Center for Retirement Research at Boston College.


    The government said Thursday that inflation, as measured by the CPI-W, decreased 0.6% over the 12 months ending September. That means the CPI-W for the year ending September was below its level from the previous year. For Social Security beneficiaries to receive a COLA, the CPI-W must be above the previous year’s level. Social Security recipients did not receive COLA adjustments in 2010 and 2011 because of low inflation.

    http://www.usatoday.com/story/money/...year/73976990/

    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

  2. #2
    Senior Member JohnDoe2's Avatar
    Join Date
    Aug 2008
    Location
    PARADISE (San Diego)
    Posts
    94,973
    NO AMNESTY

    Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.


    Sign in and post comments here.

    Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn

  3. #3
    Super Moderator Newmexican's Avatar
    Join Date
    May 2005
    Location
    Heart of Dixie
    Posts
    35,723

  4. #4
    Super Moderator Newmexican's Avatar
    Join Date
    May 2005
    Location
    Heart of Dixie
    Posts
    35,723
    Ronald Reagan on Social Security and the Deficit




    Published on Jan 16, 2015
    Clip from Oct. 7, 1984 Presidential campaign debate between sitting Republican President Ronald Reagan and Democratic presidential candidate Walter Mondale. Public Domain. From the Ronald Reagan Presidential Library. Original video may be viewed in its entirety at: http://youtu.be/OGvBFQQPRXs

    https://www.youtube.com/watch?v=mgn2LP1_YpA

Similar Threads

  1. Social Security disability fund to run dry next year
    By JohnDoe2 in forum Other Topics News and Issues
    Replies: 1
    Last Post: 07-23-2015, 02:03 PM
  2. Social Security benefits will increase by 1.7% in 2015
    By JohnDoe2 in forum Other Topics News and Issues
    Replies: 1
    Last Post: 10-22-2014, 02:48 PM
  3. CA. CITY WORKER BENEFIT: SOCIAL SECURITY?
    By JohnDoe2 in forum Other Topics News and Issues
    Replies: 0
    Last Post: 09-06-2012, 01:07 AM
  4. No Social Security increase in 2011
    By JohnDoe2 in forum Other Topics News and Issues
    Replies: 4
    Last Post: 10-05-2010, 09:21 PM
  5. Social Security Going Broke This Year, Congress Warned
    By AirborneSapper7 in forum Other Topics News and Issues
    Replies: 4
    Last Post: 03-26-2010, 05:56 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •