Join us at 1 p.m. ET Thursday for an AARP Coronavirus Tele-Town Hall on managing your money. Learn more.
AARP Bulletin, November 1, 2009
No Social Security cost-of-living adjustment in 2010 means tighter times for older Americans, but AARP is working with Congress to lessen the impact.
The efforts are on two fronts: (1) a push for the government to provide $250 in emergency relief to Social Security beneficiaries in 2010; and (2) capping the Medicare Part B premium, so some Part B participants don’t have to pay a disproportionate share of the premiums.
The House fast-tracked a $2.8 billion bill designed to stop Part B premium hikes for about 11 million beneficiaries; the 2010 premiums would hold steady at $96.40 instead of rising to as much as $119. The situation arose because Medicare law requires Part B premiums to pay for a quarter of the program’s total cost. Three of four beneficiaries are currently shielded from the premium increases.
At the same time, Congress is considering the $250 emergency relief for Social Security recipients. The problem is finding the $14 billion to finance it. “We’re trying to move something on a bipartisan basis if it’s possible,” says David Sloane, AARP senior vice president of government relations and advocacy. AARP CEO Barry Rand, in a letter to congressional leaders, urged action: “The combination of higher health care costs, including prescription drug prices, and a stagnant Social Security benefit is particularly troubling and will result in lower net Social Security payments to millions of America’s seniors in January 2010.” For more, go to aarp.org/governmentwatch.
Please leave your comment below.
You must be logged in to leave a comment.
Members save 5% on a monthly subscription.
Members save 30% off the first year of a World Explorer subscription.
Members save 20% on purchases or $20 when they spend $79.99 or more.
AARP members receive exclusive member benefits & affect social change.
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
Manage your email preferences and tell us which topics interest you so that we can prioritize the information you receive.
Explore all that AARP has to offer.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at