NCPSSM — In fact, there have been multiple bills introduced...

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The National Committee to Preserve Social Security and Medicare is one of the most effective and trustworthy sources for Social Security, Medicare and Medicaid advocacy. Since 1982, we have been working for generations of older Americans who want our nation’s health and income security programs secured for the future. Join us and learn more about how you can be a part of our intergenerational crusade.

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In fact, there have been multiple bills introduced in subsequent sessions of Congress that call for a boost in benefits including improving the formula used to calculate the annual cost of living adjustment (COLA) for the elderly, providing earnings credits for workers who leave employment to provide full-time care for children or elderly family members, extending survivor benefits for children up to age 22, lifting the wage cap to extend Social Security’s long term solvency and many more.

Max Richtman via Huffington Post.

Source: The Huffington Post

social security politics COLA entitlements entitlement reform p2 seniors elderly retirement retirement crisis retirees

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But they also call for switching COLAs to the Consumer Price Index for the Elderly or CPI-E, designed by the U.S. Bureau of Labor Statistics. The CPI-E would boost Social Security payments without worsening the system’s deficit.

via The Social Security Fix That Could Help the Poorest Retirees.

Related Reading:

Why Seniors Need a CPI-E.

But if the CPI-E determined the Social Security COLA, the expected average COLA would increase about 0.2 percentage points per year.

Source: bit.ly politics cpi-e elderly older americans COLA cost of living adjustment seniors retirement retirees retirement crisis entitlements entitlement reform social security social insurance p2

When a candidate promises to “save these programs for future generations” by raising the retirement age, raising the Medicare eligibility age, privatizing Social Security, changing the COLA formula and means-testing Social Security while exempting near retirees what they’re actually saying is: “We know seniors vote so we’ll protect them now and slash future benefits for their children and grandchildren instead.

via Entitled to Know.

Source: ncpssm.org social security politics entitlements p2 seniors retirement retirees retirement crisis entitlement reform elderly COLA means testing medicare health care retirement age

“Tens of millions of Social Security beneficiaries will not get a raise in 2016, the government announced on Thursday…
…Max Richtman, president of the National Committee to Preserve Social Security and Medicare, said the lack of COLA will be... — Tens of millions of Social Security beneficiaries will not get a raise in 2016, the government announced on Thursday…
…Max Richtman, president of the National Committee to Preserve Social Security and Medicare, said the lack of COLA will be especially harmful, because it is coupled with an increase in Medicare Part B premiums for some seniors. Those premiums are automatically deducted from seniors’ Social Security checks.
“If accurate inflation protection for seniors is truly our goal, Congress needs to adopt a fully developed CPI for the elderly,” Richtman said in a statement. “Until then, we urge Congress to act quickly to mitigate the devastating Medicare hikes headed for millions of Americans who can’t afford them.”
via Huffington Post.
Related Reading:
Today’s announcement that there will be no Social Security cost-of-living adjustment (COLA) increase next year, for only the third time in 40 years, means that millions of seniors who rely on their Social Security to get by will once again find their expenses outpacing their Social Security benefit.

Source: bit.ly social security COLA politics entitlements seniors elderly medicare health care entitlement reform retirees retirement crisis retirement p2 election election 2016 2016 election bernie sanders hillary clinton

The ‪Social Security‬ Trustees say you probably won’t get a COLA increase next year because inflation is low. But we know the COLA formula doesn’t work for seniors and that’s why we want a new formula for seniors, the CPI-E.
Read more from our... — The ‪Social Security‬ Trustees say you probably won’t get a COLA increase next year because inflation is low. But we know the COLA formula doesn’t work for seniors and that’s why we want a new formula for seniors, the CPI-E.
Read more from our release by clicking the graphic above or here.

Source: bit.ly social security COLA politics seniors entitlements retirement entitlement reform retirees retirement crisis cpi-e elderly p2

Last week’s announcement that there will be a tiny .3% Social Security COLA increase next year means that 40 million seniors who rely on their Social Security to get by will once again find their expenses outpacing their Social Security benefit.

Source: bit.ly social security COLA politics p2 retirement entitlements entitlement reform retirees retirement crisis seniors elderly older americans social insurance

Fortunately, a better formula exists. It’s called the Consumer Price Index for the Elderly — or CPI-E — based on a ‘basket’ of goods and services that reflects older Americans’ spending patterns.

via Improved Social Security COLA would help seniors stay ahead of inflation.

Source: on.mktw.net politics cpi-e social security COLA cost of living adjustment seniors elderly healthcare health care retirement retirees retirement crisis retirement security entitlements entitlement reform p2

In the 40 years that the COLA has been available for Social Security beneficiaries, 2010, 2011 and 2016 are the only years the benefit has not been increased to preserve the purchasing power of seniors.

via NCPSSM.

Source: ncpssm.org social security COLA politics seniors retirement entitlements retirement crisis retirees entitlement reform p2 elderly social insurance cost of living adjustment

“Asked Monday if the Trump administration would address “entitlement reform,” White House chief economic advisor Larry Kudlow said it will “probably” look at “larger entitlements” next year. Entitlement reform generally refers to changes or cuts to... — Asked Monday if the Trump administration would address “entitlement reform,” White House chief economic advisor Larry Kudlow said it will “probably” look at “larger entitlements” next year. Entitlement reform generally refers to changes or cuts to large government social programs such as Social Security, Medicare, Medicaid or food stamps.
via CNBC.
**Related Reading:**
**Trump Advisor Re-Affirms Commitment to Cutting Social Security & Medicare.**
This aligns with comments from National Republican Congressional Committee chair, Rep. Steve Stivers, House Speaker Paul Ryan, and several other key GOP members about the need to pay for last year’s tax cuts by ‘reforming’ Social Security and Medicare. ‘Reforming,’ of course, means cutting and privatizing.

Source: bit.ly politics social security medicare white house trump donald trump larry kudlow earned benefits social insurance seniors elderly older americans retirees retirement crisis retirement entitlements entitlement reform p2

reut.rs

Rising Medicare costs leave many U.S. seniors with a flat COLA

Millicent Graves will get araise from Social Security next year, but her household budgetwill get worse, not better.

The 2 percent cost-of-living adjustment (COLA) announced by Social Security for 2018 last month will boost Graves’ monthly benefit by $20.70. But in reality, that increase will be wiped out by a higher Medicare Part B premium, which will be deducted from her Social Security benefit.
The federal government announced last Friday that the standard Part B premium will be $134 per month next year, unchanged from 2017. That sounds like good news at first blush. But for roughly 70 percent of seniors, Social Security benefit amounts will stay flat due to the relationship between the premium and the Social Security cost-of-living adjustment.
via Reuters.

2018 Social Security COLA Won’t Meet Seniors’ Needs.

The just-announced 2.0% cost-of-living increase (COLA) for Social Security beneficiaries is woefully inadequate.

The 2018 COLA translates into a paltry $27 a month for the average recipient, barely enough for a prescription co-pay, a tank of gas, or a bag of groceries.

For many seniors, the COLA increase will be completely negated by the increase in Medicare premiums for 2018 (about 23%).

Source: bit.ly politics p2 COLA social security medicare health care healthcare older americans elderly retirement retirees retirement crisis entitlements entitlement reform cost of living adjustment seniors

A more generous COLA formula is crucial to keeping millions of seniors from slipping into poverty. Fully 40% of America’s seniors depend on Social Security for virtually all their income.