The 2019 COLA increase: An early prognostication
Although it’s far to early to predict with any certainty what Social Security’s 2019 COLA increase might be, Motley Fool’s Sean Williams nevertheless speculates what might happen in the future. The actual COLA number isn’t determined until mid-October because it’s based upon the current year’s 3rd quarter (July-September) Consumer Price Index (CPI) measurement compared to the same figure for the previous year. But in this madison.com article, the author ventures forth and explains how each year’s COLA is determined, what affected last year’s CPI and what might affect this year’s. While the article is pure speculation, it provides considerable insight into how COLA is set and the types of inflation-affecting events which affect it. Click here to read more.
Electronic Funds Transfer.was suppose to be safer but in Indonesia the funds go from social security to some mysterious unknown location. That is why Indonesia is the land of magic.
Richard…all social security recipients should receive a substantial increase every year…not just disabled vets! Although you may have sacrificed a lot for our Country, you do not represent the only group that should be compensated. Speaking only for myself, I worked for 35+ years in my chosen career…and that does not include the number of years I worked at miscellaneous jobs before going to College. We have all paid into the system our own money one way or another, and we all deserve a substantial raise to bring us up to inflation increases. I really don’t expect our current President to care all that much about Seniors, Vets or any other groups! I think he believes that Social Security was funded by government money, and I doubt if he has ever even taken a high school Civics class!
I hope the president puts veteransondisability a good 4& cola raise because the price of grocerys have gone up along with gasoline diabled veterans deserve adecent raise this year to make up for 2016 when we did not receive one I hope are senators and congressman and congresswoman remember the votes he got from veterans but not me i’m a democrat If i was president iwould'[nt submitted a tax cut for the rich and left it in the tresury and never built the wall either waste of money bad mistake by the republicans again as bundles of mariguwana floots across the ocean along with cocain.We ansered the call to duty during all wars every veteran across the united states of america my legs are failing and i will be walking with awalker let’s speak out comrades.
Y0u fail to mention that most of the cola gets absorbed into the medicare increase. Thank God for the for no harm clause or our increases would be negative.
What a farce a few years back when we didn’t get an increase due to falling gas prices. Some one forgot to tell these geniuses that seniors don’t drive those 50 to 60 mile round trips to work anymore to we ended up on the short end of the stick once again.
Tom, will you please tell me what the no harm clause is?
Thanks.
Sharon H.S.:
The Social Security Act contains a “Hold Harmless” provision, which essentially states that your Social Security benefit payment cannot decrease due to an increase in Medicare’s Part B premium. This is an important provision because Medicare costs tend to rise annually often resulting in higher Part B premiums. However, to be protected by this provision, your Medicare Part B premiums must be automatically deducted from your Social Security benefit payments, and about 70% of all Social Security beneficiaries enjoy this “hold harmless” protection.
Hope this helps explain the provision.
Gerry Hafer
AMAC Foundation. Inc.
Notice: The opinions and interpretations expressed in this message are the viewpoints of the message’s author, a trained advisor accredited under the National Social Security Advisors program of the National Social Security Association, LLC (NSSA). The author, the NSSA, and the AMAC Foundation are not affiliated with or endorsed by the United States Government, the Social Security Administration, or any other state government.