No COLA, Higher Medicare Premiums and What Congress is Doing About It
Martha Hamilton has a piece up at AARP Bulletin about the dilemma that millions of Social Security recipients are facing for 2010: not only will there be no Social Security cost-of-living adjustments, but a hike in Medicare premiums that will leave them in a serious financial bind. The good news is that Congress is taking action.
Tricia Neuman and Juliette Cubanski of the Kaiser Foundation also have a really useful brief on the issue, explaining the relationship between the Social Security COLA and the Medicare Part B premium, and what's at stake for those covered by both programs. Check that out for a good background on the issue, and Hamilton's piece on what is being proposed to help the situation, at least temporarily - the House just passed by a measure that would freeze Part B premiums for the coming year (and the Senate will likely to follow). But another problem is also weighing; others may see a reduction in their SS checks due to Part D premiums.
In short, there is much to be done to ensure Social Security recipients aren't left out in the cold. Let's just hope the work pays off.
Tags: COLA, medicare, social security
Comments
Merle D. Davis says:
I am 70 years old. Simple question. Is congress not giving a COLA so they can finance health care????
10/10/09 10:30 AM
Linda S says:
Re Health Care and NO COLA- Since AARP is in the pocket of the White House, I would like to know what the raise Congress gave itself this year. If they took a % of their raises and applied it to Medicare, they would not have to cut $400B from Medicare.
I have been fretting over this Health Care Reform for a long time now and I want AARP to know how I feel. They are selling Seniors down the River.
How dare Washington penalize people for not following their ridiculous Health Care Reform. What happened to out freedom in America.
The Medicare Drug Plan tried to get healthy people mjoin so they could be financially viable. The same method is being used to have the Healthy support the people who do not take care of themselves.
I think Insurance companies should insure people with pre-existing conditions. That is where the governmend could help by giving the insurance companies a tax credit.
I am contemplating dropping AARP, they are just a big Lobby for the White House.
10/12/09 6:44 PM
Tyrone Black says:
If Congress fails to act, my Medicare Part B premium will rise from $110 to $154 in 2010, a 40 percent increase, since my family income is just above the "means tested" threshold for higher premiums. Never mind that my wife and I paid much above average Medicare payroll taxes during our work lives; the new mantra is redistribution, redistribution, redistribution. Once again the promise to not raise taxes on anyone earning less than $250,00 is just campaign rhetoric.
Wake up all you seniors who worked hard and succeeded! The current power structure is the most socialistic in the nation's history. AARP is an Obama administration lapdog, and I will not be renewing my membership.
10/21/09 1:41 PM