What’s Behind the Medicare Part B Premium Spike?
The nearly 67 million Americans who depend on Medicare will ring in the new year with an unwelcome cost increase. The
Trump Shutdown Could Snag Social Security, Medicare
In normal times, a government shutdown --- while unfortunate --- would not be cause for immediate alarm for people on Social Security and Medicare. But these are not normal times. The Trump administration has made the shutdown more perilous for the most vulnerable Americans because of its campaign to undermine the delivery of both programs --- not to mention the President’s recent threat to cut benefits.
GOP Takeover, Debt Ceiling Revive Some Really Bad Ideas
Republican proposals to cut taxes for the wealthy and undermine Social Security and Medicare have come back like a bad dream with the GOP takeover of the House and the debt ceiling standoff. We spoke to our senior legislative representative, Maria Freese, about what these proposals would really do --- and who they benefit. Hint: the answer is NOT working people and retirees.
8.7% Social Security COLA is Highest in Four Decades, But Seniors Need a Better Inflation Formula
The Social Security Administration SSA announced this morning that Social Security benefits will increase 8.7 % in 2023 --- the largest cost-of-living adjustment (COLA) in four decades. On average, Social Security benefits will increase by more than $140 per month starting in January.
Social Security Trust Fund Projected to Endure for an Additional Year, Trustees Say
Social Security’s trust fund received a one-year reprieve in the 2022 Social Security Trustees report, released late Thursday afternoon. The Trustees project that the combined disability and retirement trust fund will become depleted in 2035 – one year later than predicted last time – if Congress doesn’t take preventative action. When the trust fund becomes insolvent, the Trustees say, Social Security will only be able to pay 80% of scheduled benefits.
Pending Aduhelm Coverage Decision Could Pave the Way for Lower Medicare Premiums
Medicare Part B beneficiaries have seen their monthly premiums jump to from $148.50 to $170.10 this year – one of the biggest increases in recent history. Many seniors on fixed incomes who welcomed this year’s 5.9% Social Security COLA were dismayed to find that $21 of it will be consumed by the Medicare premium bump. But this week brought some potentially encouraging news.
President Biden Should Roll Back Medicare Premium Hike
The National Committee is urging President Biden to mitigate the announced $21 monthly increase in Medicare Part B premiums. President and CEO Max Richtman sent a letter to the White House this week asking President Biden to intervene before the premium hike takes effect in 2022.
NCPSSM President Testifies at Hill Hearing on Social Security Legislation
Social Security must be expanded and strengthened now. That was the message National Committee president Max Richtman delivered in testimony today before the House Ways and Means Social Security subcommittee, chaired by Rep. John Larson (D-CT). This was the first and possibly only hearing on Congressman Larson’s Social Security 2100: A Sacred Trust legislation, which would boost benefits and extend the solvency of the program’s trust fund.
5.9% COLA is Good, But Seniors Need a Permanent Boost
The federal government announced today that Social Security beneficiaries will receive a 5.9% cost-of-living adjustment (COLA) in 2022. That's about $92
Social Security Trustees Report Signals Now is the Time to Strengthen & Expand the Program
Americans who rely on Social Security can exhale for a moment now that the program’s Trustees have reported that the trust fund will remain solvent until 2034. That’s only one year earlier than projected in last year’s report. It is time to strengthen and expand the program.