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So is the president and bush put forwaqdr a plan. Congress rejected it and even their own commission decided to do nothing. The dmeocarts said evrything is fine and will worry about it around 2040 or when the paln wsatrts runnign out.Until tehn they are not touching it with a ten foot pole.Just look at what has happened when Oboma said they will saving 1/3rd the cost of his healthcare by cutting medicare spending.
Yeah, you certainly have accurate presented the politics of the issue. The problem is despite the politics, the funds continue to deplete. Obama's proposal to get $500 Billion in savings from Medicare was odd, considering the current depleting state of the fund, and actually was one of the issues that led to the discussion of "death panels". After all, when you look at the layout of Medicare expenditures, the preponderance are during the last year of life. If you want those kind of savings, where are the tradeoffs?
I just wish we could have an honest analysis and discussion by the existing administrations, Republican or Democrat. Just lay out the financial problem, and the options about how we need to solve it. I wish both sides would quit treating us like morons.
Yeah, you certainly have accurate presented the politics of the issue. The problem is despite the politics, the funds continue to deplete. Obama's proposal to get $500 Billion in savings from Medicare was odd, considering the current depleting state of the fund, and actually was one of the issues that led to the discussion of "death panels". After all, when you look at the layout of Medicare expenditures, the preponderance are during the last year of life. If you want those kind of savings, where are the tradeoffs?
I just wish we could have an honest analysis and discussion by the existing administrations, Republican or Democrat. Just lay out the financial problem, and the options about how we need to solve it. I wish both sides would quit treating us like morons.
If they tell the truth their fear is that they will not get reelected. There is enough to be concerned about Medicare reform from all parties and politicians as you have noted. We were legally advised when doing our will/estate planning to have Long Term Health Care Insurance. The attorney called it body parts replacement insurance. The assumption being that their would be medical advances that you would need extended coverage for. It is big bucks planning and requires tiers of coverage and liquidity.
If they tell the truth their fear is that they will not get reelected. There is enough to be concerned about Medicare reform from all parties and politicians as you have noted. We were legally advised when doing our will/estate planning to have Long Term Health Care Insurance. The attorney called it body parts replacement insurance. The assumption being that their would be medical advances that you would need extended coverage for. It is big bucks planning and requires tiers of coverage and liquidity.
Contingency planning is always good, for those of us lucky enough to afford it. However, as the politicians refuse to level with us about the problem, and possible alternative solutions, the "corrective action" becomes more substantial due to the lost opportunities to make minor corrections.
Question...
Every year we have noticed the estimated benefit amount on my husbands social security statement is increased. Is this due to the fact that he is sill working and contributing to it or is it the cost of living allowance increase? I'm confused because I dont know if folks already getting a benefit check are the only ones getting the increase or if it applies to everyone weather your receiving it now or later.
Lisa, SS is based on your highest 35 years of working income (according to last month's AARP mag). Those are most likely the last 35 years of your working career. So projections would go up since it would eliminate the most likely lower years of your youth each year.
Rep. Carolyn McCarthy Introduces Bill to Provide Seniors with Social Security COLAs for 2010
Tuesday September 08, 2009 WASHINGTON D.C.—Today, Rep. Carolyn McCarthy (NY-04) introduced legislation that will ensure that America’s seniors will receive a Cost-of-Living-Adjustment (COLA) in 2010. Under the current guidelines, social security recipients are not scheduled to receive any COLA next year. The Social Security COLA Fix for 2010 Act will help seniors offset the rising costs that they face by providing them with a one-time $150 payment in lieu of the Social Security COLA.
Rep. Carolyn McCarthy Introduces Bill to Provide Seniors with Social Security COLAs for 2010
Tuesday September 08, 2009 WASHINGTON D.C.—Today, Rep. Carolyn McCarthy (NY-04) introduced legislation that will ensure that America’s seniors will receive a Cost-of-Living-Adjustment (COLA) in 2010. Under the current guidelines, social security recipients are not scheduled to receive any COLA next year. The Social Security COLA Fix for 2010 Act will help seniors offset the rising costs that they face by providing them with a one-time $150 payment in lieu of the Social Security COLA.
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Tuesday September 08, 2009 WASHINGTON D.C.—Today, Rep. Carolyn McCarthy (NY-04) introduced legislation that will ensure that America’s seniors will receive a Cost-of-Living-Adjustment (COLA) in 2010. Under the current guidelines, social security recipients are not scheduled to receive any COLA next year. The Social Security COLA Fix for 2010 Act will help seniors offset the rising costs that they face by providing them with a one-time $150 payment in lieu of the Social Security COLA.
Bad idea. If the calculation of cost-of-living adjustments shows that no cost-of-living adjustment is called for, and if there's a financial/economic (rather than political) reason to believe that is in error, what they really need to do is look at how the calculation is made.
Doing this type of "patch" may appeal to people on Social Security, but it's just a patch. If SS recipients are truly faced with rising costs that are not accurately or completely reflected in the manner in which COLAs are calculated, I'd favor a permanent fix.
Bad idea. If the calculation of cost-of-living adjustments shows that no cost-of-living adjustment is called for, and if there's a financial/economic (rather than political) reason to believe that is in error, what they really need to do is look at how the calculation is made.
Doing this type of "patch" may appeal to people on Social Security, but it's just a patch. If SS recipients are truly faced with rising costs that are not accurately or completely reflected in the manner in which COLAs are calculated, I'd favor a permanent fix.
What you say is true. This proposal is nothing more than an additional "stimulus" payment directed towards SS recipients. It is certainly not a COLA.
Representative Walter Jones submitted bill H.R. 3557 yesterday, September 14, calling for an emergency COLA for social security recipients for 2010. All of us that are going to suffer from the lack of a COLA in January had better write to our local congressperson and urge them to pass this bill. Do not hesitate! No one will be an advocate for you if you don't stand up for yourself. Send your congressperson a message today!
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