The Administration sticks it to the Senior Citizens. Not only has our annual Cost Of Living Adjusment (COLA) been eliminated but our Medicare payments will be increased by $285.65 per year in 2010.
Social Security
For the first time in history, the Democratic Congress, in a penny wise but pound foolish decision, will not allow an increase in the social security COLA (cost of living adjustment). In fact, The Henry J. Kaiser Family Foundation predicts there will not be any COLA for the next three years.
Even with COLA eliminated, the per person monthly Medicare insurance premium will be increased from the 2009 premium of $96.40 to $104.20 in 2010 and to $120.20 for the year 2011.
This brings us a total annual increase of $285.60 in the second year with no increase in COLA!
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19 comments:
Nothing is for free and seniors use medical services the most.. so they have to pay. I find nothing wrong with increased fees for incredibly cheap medical care that Medicare provides...
Stop the whining and just pay!
Many, many seniors have only a measly social security check as income, so any increase in medicare costs without COLA can leave them without funds to pay for food, utilities, prescription drugs, etc. I hope I don't hear about Congress voting themselves a pay raise during what is a very difficult time for many.
Where do these same seniors stand on healthcare reform for those without any insurance because the cost is too high for the wages people earn?
No one else is getting a raises in this economy, they should not either
So the benefits will not increase. But the expenses will increase.
Since inflation is low (or nonexistent), there is no COLA. That's how it should be. If the cost of living isn't going up, they shouldn't get a cost of living increase. And, yes, I know there are problems with how COLA is computed, but no one was complaining when the government's COLA computations were giving them more money.
As a group, old people are the wealthiest segment of society. Yes, there are destitute old people but if you are getting SS or Medicare you are, on average, wealthier than those who are not.
Furthermore, SS and Medicare are on the path to bankrupt our government. Seniors who complain about too much government spending should be happy these very, very minor steps are being taken to help slow the growth of these programs.
9:13 If they only live on social security why is that my problem? It is not a pension plan, it is to be combine with your retirement savings.
Sorry, SOcial Security was NEVER supposed to sole income for anyone.. should have saved money and prepared for retirement.. it's called PERSONAL RESPONSIBILITY!
Nothing is for free and taking 100% (that is ALL) of the money from people at the top 1-2% (100%tax) would not satisfy the horrific debt for this year alone.. so stop whining.. everyone needs to pay --not just the so called rich.
There are people who even with modest incomes save and prepare responsibly for retirement--those who don't--(except for severe disabilities etc...) made their own bed
What happens to the disabled?
11:37
Great advice. I will use it in my next life.
I honestly thought if I go ahead and give the IRS 55% of my money they really would take care of me when I became old. Boy was I mistaken.
They should have planned better for their retirement age. Too bad too sad..
I paid into ss idiots
3:49 Really who told you that? You a communist?
Come on dont be so hard on the old folks,whether they saved for retirement wisely or not,most of them have worked hard all their lives and made sacrifices we younger people know nothing about.When it comes to budget cuts,the programs for the elderly are always targeted.They need a stronger advocate than AARP.
around 13% is taken from your salary for ss. multiply that by the years youve worked. someday when you're over 65, you just might feel differently, but only if you live.
Congress gave themselves a raise this year. Whats up with that?
Congress has been receiving automatic pay raises every January since 1989 when Bush senior was in his first year as president. I am opposed to it, but in fairness it is hardly as if the current congress ever voted on it, it's been happening automatically for 20 years. In fact in 2005 the Republican led congress voted down a motion to abolish the automatic pay raise system.
It should also be noted that the current Democratic majority congress voted back in March NOT to take a pay raise in 2010.
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