The Center for Retirement Research at Boston College says there probably won't be a Social Security Cost of Living Adjustment (COLA) this year. If so, it would be only the third time this has happened in 40 years.
It is very likely the COLA will be small, but it's too early to tell whether it will be 0. That depends on the CPI-W for August and September, which will only have to increase modestly to get a small COLA. We'll know on October 15.
Of course, as the article you link to points out, Medicare Part B premiums are scheduled to increase by over $15, but the increase is limited by the COLA for most recipients. So if there is no COLA, Part B premiums will not increase for 70% of recipients (but will increase by about $45 for the rest). If there is a small COLA, then Part B premiums for most people will increase by the amount of the COLA, so they won't see any increase in their checks (but the increase in Part B for the 30% whose premiums are not limited by the COLA would be less).
Does anyone know of a past precedent where Congress circumvented this "Medicare Flap" (e.g., suspending the hold-harmless provision, providing a COLA regardless of the CPI-W)?
sounds like those on a "fixed income" (which is what beneficiaries of government benefits are often referred to) are going to start to understand the types of raises that are typical for government employees (who actually work)...
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It is very likely the COLA will be small, but it's too early to tell whether it will be 0. That depends on the CPI-W for August and September, which will only have to increase modestly to get a small COLA. We'll know on October 15.
ReplyDeleteOf course, as the article you link to points out, Medicare Part B premiums are scheduled to increase by over $15, but the increase is limited by the COLA for most recipients. So if there is no COLA, Part B premiums will not increase for 70% of recipients (but will increase by about $45 for the rest). If there is a small COLA, then Part B premiums for most people will increase by the amount of the COLA, so they won't see any increase in their checks (but the increase in Part B for the 30% whose premiums are not limited by the COLA would be less).
Does anyone know of a past precedent where Congress circumvented this "Medicare Flap" (e.g., suspending the hold-harmless provision, providing a COLA regardless of the CPI-W)?
ReplyDeleteI don't think Congress has ever done so, and I don't think they'll do either now.
ReplyDeleteGood explanations!
ReplyDeletesounds like those on a "fixed income" (which is what beneficiaries of government benefits are often referred to) are going to start to understand the types of raises that are typical for government employees (who actually work)...
ReplyDeleteDuring my search on GOOGLE for help to get my ex lover whom will got divorced back, i came across this wonderful man called DR.AGBAZARA who did a nice job by helping me to get my divorced husband back within 48hours.. I never believe that such things like this can be possible but now i am a living testimony to it because AGBAZARA TEMPLE actually brought my lover back , If you are still doubting why not contact DR.AGBAZARA TEMPLE on email : (agbazara@gmail.com) or him on 2348104102662, Then i promise you that after 48hours you will have reasons to celebrate like me
ReplyDeleteI am so happy after many months of searching the internet for a perfect spell caster to get my lover back i came across this great spell caster called Dr.Jesu and his contact details are: ((jesutemple7@gmail.com)) and When i contacted Dr.Jesu i was not sure if he could get my lover back to me because i have contacted some other spell casters before none was able to get my lover but just within 48 hours that i contacted Dr.Jesu my lover came back to me immediately
ReplyDelete