House does nothing again to boost Seniors and the downtrodden....2% increase mostly for Medicare !

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Re: House does nothing again to boost Seniors and the downtrodden....2% increase mostly for Medicare

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@Golfermort 

 

To repeat and add a bit more to what Kid said -

The Cost of Living Adjustment is an automatic calculation based on a consumer price index.  This one is figured from Sept of previous year to Sept of the current year and then actual COLA is announced in October.

 

The 2% was the the one which beneficiaries and anybody else that gets COLA like veterans, some government worker - got for 2018.

 

So you have to wait until October 2018 to hear what the COLA will be for 2019 - looking better than in a long time right now.

 

However, one thing you should understand if you are on Medicare and get SS - those Part B premium increased are based somewhat on this COLA because your SS benefit cannot go down, it takes an increase in your benefit for a higher Part B premium to be assessed - it is called the Social Security Hold Harmless Clause.  

 

So so about the same time beneficiaries are notified of any COLA % (in October), beneficiaries also find out if their Part B Medicare premium is going up and to what.


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Re: House does nothing again to boost Seniors and the downtrodden....2% increase mostly for Medicare

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@Golfermort  Where did you find this information, do you have a link?

 

Here is what I found by doing a Google search.

 

https://seekingalpha.com/article/4192970-social-security-cola-looks-likely-top-3-percent-2019

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Golfermort posted...

Inflation has soared for the elderly. We are facing a 25% increase in rent for 2019, food prices going up, medical plans going up, and everything is soaring. Trumps horrible trade policies are a price killer and they give us a 2% increase which is mainly going to Medicare....No more donations to AARP for political agenda's which are not helping us to maintain even a meagerly decent lifestyle...We are suffering and the rich are getting all the breaks...I do not see AARP as fighting for us....We should have a net 3-4 % after the Medicare amount is taken out, whatever amount that will be....By not keeping up with cost of living, then we are being flat mistreated....They used our money for decades and now are not living up to the agreement...SHAME !!!! Call all Housemembers and start really complaining, and then VOTE for who may really get on OUR side.

=============================================

I guess the 2% you are talking about is in SS.

The Social Security Act specifies a formula for determining each COLA. According to the formula, COLAs are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). CPI-Ws are calculated on a monthly basis by the Bureau of Labor Statistics.

SS was never intended to give people enough money to live on. Our politicians have given people the idea of "we will take care of you in your old age" . So many people that could have or should have had a nest egg do not..sad but true.

I hope or schools will instill on their students that its imperative for them to save for retirement.

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House does nothing again to boost Seniors and the downtrodden....2% increase mostly for Medicare !

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Inflation has soared for the elderly.  We are facing a 25% increase in rent for 2019, food prices going up, medical plans going up, and everything is soaring.  Trumps horrible trade policies are a price killer and they give us a 2% increase which is mainly going to Medicare....No more donations to AARP for political agenda's which are not helping us to maintain even a meagerly decent lifestyle...We are suffering and the rich are getting all the breaks...I do not  see AARP as fighting for us....We should have a net 3-4 % after the Medicare amount is taken out, whatever amount that will be....By not keeping up with cost of living, then we are being flat mistreated....They used our money for decades and now are not living up to the agreement...SHAME !!!!  Call all Housemembers and start really complaining, and then VOTE for who may really get on OUR side.

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