THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY AND MEDICARE
~ Celebrating 25 Years of Advocacy for Older Americans ~

December 19, 2007

NEWS RELEASE

COLA Protection Act Will Protect Seniors from Skyrocketing Costs
Petition Campaign Urges Congress to Stop the Erosion of Social Security
Cost of Living Increases

"Annual cost of living increases are critical to ensure seniors living on a fixed income can keep pace with the rising costs of living.   Part B premiums alone have more than doubled since 2000.  And Part D premiums will also continue to rise. Combine that with high energy and food costs and you can understand why many seniors are feeling the pinch.  COLA's are critically important to help seniors maintain a basic standard of living and this COLA Protection Act ensures the cost of living increase isn't eaten away by skyrocketing healthcare costs." Barbara B. Kennelly, President/CEO

The National Committee to Preserve Social Security and Medicare (NCPSSM) has endorsed the "Social Security COLA Protection Act of 2007" introduced by Senator Tim Johnson (D-SD).  This legislation, and a companion bill introduced in the House by Rep. Stephanie Herseth Sandlin (D-SD), would guarantee that no more than 25% of a retiree's annual COLA could be consumed by the combined increases in Part B and Part D Medicare premiums.  

A new NCPSSM campaign underway now has already collected more than 80,000 signed petitions urging COLA protection for seniors. Over the past 4 years, millions of National Committee members have delivered petitions and letters to Congress urging relief from rising drug and healthcare costs. 

The National Committee applauds Senator Johnson and Representative Herseth Sandlin for introducing legislation that would limit the erosion of retirees' monthly Social Security check.  A copy of the National Committee's endorsement letter is available on our website.