Medicare rise could mean no Social Security COLA

[n2doc]

By STEPHEN OHLEMACHER, Associated Press – 16 mins ago

WASHINGTON – Millions of retired and disabled people in the United States had better brace for another year with no increase in Social Security payments.

The government is projecting a slight cost-of-living adjustment for Social Security benefits next year, the first increase since 2009. But for most beneficiaries, rising Medicare premiums threaten to wipe out any increase in payments, leaving them without a raise for a third straight year.

About 45 million people — one in seven in the country — receive both Medicare and Social Security. By law, beneficiaries have their Medicare Part B premiums, which cover doctor visits, deducted from their Social Security payments each month.

When Medicare premiums rise more than Social Security payments, millions of people living on fixed incomes don't get raises. On the other hand, most don't get pay cuts, either, because a hold-harmless provision prevents higher Part B premiums from reducing Social Security payments for most people.

more
http://news.yahoo.com/s/ap/20110327/ap_on_go_ot/us_social_security_cola

And the slow destruction of the safety net continues...

[madrchsod]

1. what the hell,i guess i`ll have to cut back on eating too.

that`s the least i can do to support mr obama`s wars in the middle east.

it would be cheaper for me to stay on my wife`s insurance when i turn 65 next year. medicare payment will take a larger percentage from my social security check than my wifes deduction from hers. ever wonder why the door greeters at walmart are old people? they are working to pay medicare.

i was lied to by obama and i knew what the reublicans would do. at least the republicans were honest.

[old mark]

2. K&R- Well, I guess that's us retiree's part of the "shared sacrifice"

I hear so much about...when will the rich get to share? Or the elected politicians?


mark

[fasttense]

3. And GE,and Exxon paid absolutely NO taxes but they got refunds..

So, grandma can give up eating full meals so she can subsidies the most profitable corporations in the history of the world.

"That's change you can believe in."

[dkf]

4. Medicare is really the budget buster, more so than social security.

I've often thought that at the rate medical expenses are going up, it will consume a larger and larger part of social security checks. In my future planning, the best I am hoping for is that I can get some social security so that it can pay for my Medicare.

[n2doc]

6. Just wait until they drop that "hold harmless" provision

And you know they will. Then SS really will diminish to nothing, to pay for some reduced level of healthcare (probably just checkups and big pharma drugs).

[dkf]

7. Yup

Also it probably only protects current recipients. By the time I am eligible, forget it.

[xchrom]

5. well we can see clearer every day who it is that's doing all the 'sharing'

in the 'sacrifice' department.