Every year Social Security recipients have their monthly benefit amount adjusted based on the cost of living. For the past several years, recipients have seen a slight increase in their check, but this year there will be no cost of living adjustment. On top of that, about a third of Medicare beneficiaries will face another hit because of increased premiums, according to Lisa Lamkins of AARP-Wisconsin. AARP says these changes will affect more than 16 million Americans, who will see their Medicare Part B deductible go up. Social Security officials say the reason there will be no cost of living increase is because of unusually low energy prices. But Lamkins says regardless, no cost of living adjustment will still be difficult for recipients to deal with. Lamkins says our national leaders need to come up with something to help soften the blow to America’s senior citizens. Lamkins says AARP is also opposed to an idea being discussed in Washington called “Chained Consumer Price Index”, which she says would have a huge negative impact on Social Security recipients because if Chained CPI were in effect, it would have caused even bigger problems for recipients. Lamkins says AARP will continue to fight against all proposals to adopt Chained CPI.
