Friday, September 2, 2011
Living costs for seniors 65 and older are rising faster than younger households because seniors use more medical care and health care. Medical costs are growing much faster than prices for most other goods and services.
According to a fact sheet released by the National Academy of Social Insurance (NASI), households headed by seniors 65 or older spend two to three times as much of their budgets on medical care as younger households and disabled individuals spend even more. NASI also says that health care costs have grown faster than prices for other goods; and services over the past thirty years. Monthly premiums for Medicare Part B have grown ―fifteen-fold‖ since 1976 — from $7.20/month to $115.40/month in 2011.
What you can do: Members of Congress are more likely to re-think voting for legislation when they see a large number of seniors adamantly opposed to cutting COLAs. Write to or call your Member of Congress and ask what plans he or she supports to maintain COLA adjustments in their present form. The more input they get from their senior and Veteran constituents the less likely they are to support the proposed changes. For quick Congressional email or telephone contact data refer to http://thomas.loc.gov/home/contacting congress.html.
Posted by Paul Alldredge at 12:52 PM