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Seniors face Medicare hikes but no Social Security boost

“It is absolutely outrageous and disgraceful that our seniors are suffering because we continue to use an antiquated formula to determine cost of living increases,” U.S. Rep. Eliot Engel, D-N.Y., said in a statement. He has introduced a bill that would amend current law by requiring the use of the Consumer Price Index for the Elderly rather than the Consumer Price Index for Urban Wage Earners and Clerical Workers, when calculating annual cost of living adjustments for people on Social Security.
“It is absolutely outrageous and disgraceful that our seniors are suffering because we continue to use an antiquated formula to determine cost of living increases,” U.S. Rep. Eliot Engel, D-N.Y., said in a statement. He has introduced a bill that would amend current law by requiring the use of the Consumer Price Index for the Elderly rather than the Consumer Price Index for Urban Wage Earners and Clerical Workers, when calculating annual cost of living adjustments for people on Social Security.

We seniors now know there will be no increase in Social Security for 2016 because of the cost of living was not sufficient enough to support a monthly increase. This is supposedly due to the lower cost of gasoline.

Most seniors drive fewer miles as they get older so while the cost of fuel is lower, the benefit of lower gas prices goes to those still working.

I have now been informed that for 2016 my monthly Medicare Part D drug premium will be increased another $15 a month plus a deductible that will be increased from $70 in 2015 to $350 in 2016. It appears my Medicare Part B premium will be going up about 50 percent in 2016.

Grocery prices have made big jumps in prices in 2015.

I remain unconvinced that the cost of living for seniors has not gone up ... considerably!

Daniel M. Wiggins

Ellenton

This story was originally published October 24, 2015 at 12:00 AM with the headline "Seniors face Medicare hikes but no Social Security boost ."

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