BEFORE going into a rant about some facet of SS and/or Medicare, it pays to understand how they work -
Congress does not have to vote a COLA in - it is automatic based on specific indexes on the state of the economy.
SSA.gov - Social Security Cost of Living Adjustments
COLA increase affect more than just SS beneficiaries - Veteran's benefits, government employees, etc. Congress by law get the same % increase in COLA as everybody else UNLESS they specifically vote this out - which they do occassionally.
National Taxpayers Union - Do Members of Congress get Automatic Pay Hikes (COLAs)?
Congressional Research Service 04/2018 - Salaries of Members of Congress: Recent Actions and Histori... READ THE SUMMARY
YOU pick your Medicare Part D plan - shop around for the one available in your area that serves you the best.
KFF The Medicare Part D Prescription Drug Benefit 2018 Analysis Fact Sheet
from the link:
Part D Plan Premiums and Benefits in 2018
Premiums. According to CMS, the 2018 Part D base beneficiary premium is $35.02, a modest decline of 2% from 2017. Actual (unweighted) PDP monthly premiums for 2018 vary across plans and regions, ranging from a low of $12.60 for a PDP available in 12 out of 34 regions to a high of $197 for a PDP in Texas.
Part D enrollees with higher incomes ($85,000/individual; $170,000/couple) pay an income-related monthly premium surcharge, ranging from $13.00 to $74.80 in 2018 (depending on their income level), in addition to the monthly premium for their specific plan.3 According to CMS projections, an estimated 3.3 million Part D enrollees (7%) will pay income-related Part D premiums in 2018.
Perhaps you are talking about Medicare Part B or the doctor coverage instead. This benefit is NOT covered by an actual Trust fund. There is NO payroll taxes paid for Medicare Part B. Beneficiaries pay a monthly premium for Medicare Part B - these premiums represents 25% of the cost of the program - the other 75% of the cost of Medicare Part B comes from the General Fund.
AND BTW, those beneficiaries who have an income greater than $ 85,000 per year have to pay a much higher monthly premium for Medicare Part B and Medicare Part D - including any beneficiary that has served or is serving in Congress.
SSA.gov - Medicare Premiums: Rules For Higher-Income Beneficiaries 2018
The ONLY Medicare benefit that a beneficiary gets premium free if they have worked long enough and paid Medicare taxes long enough through their payroll deduction is Medicare Part A or the Hospital portion of Medicare.
Any SS Funds that are collected and NOT used to pay current benefits are invested in special treasures but this amount is now decreasing due to the shear number of baby boomers receiving their benefit or will be receiving them.
SSA.gov - Social Security Trust fund Data Combined Old Age, Survivors and Disability Benefits -1957 ...
And what is MOST IMPORTANT is the current financial health of the system per the annual Social Security Trustee Report: 2017 Social Security and Medicare Trustee Report Summary
Especially THIS part:
After 2021, interest income and redemption of trust fund asset reserves from the General Fund of the Treasury will provide the resources needed to offset Social Security's annual deficits until 2034, when the OASDI reserves will be depleted. Thereafter, scheduled tax income is projected to be sufficient to pay about three-quarters of scheduled benefits through the end of the projection period in 2091.
So IF something is not done to fix this "what's coming in and what's going out" problem - Beneficiaries will have about a 25% reduction in their benefits about 2034 - That's in the law - it will be swift and automatic just based on the numbers of what is coming in and what is going out.
I am one that will listen and think about any solution to these entitlement financial problems and any structural problems within the system, but the people suggesting them and promoting them have to understand the systems and thus the problems and any possible remedies. It would serve you well in your own benefits to understand them. Just voting people in or out does not solve the problem if they aren't willing to fix the problem(s) with good solutions, fair to everybody.
These problems have been going on for a long time - Social Security Actuaries even analyize each proposal - see any you like?
SSA.gov - Proposals to Change Social Security - SS Actuary Analysis
It's Always Something . . . . Roseanna Roseannadanna