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Trick or Treat? Looks Like There Won't Be a Cost-of-Living Adjustment for 2016

October 31, 2015 by Robert L. Heller
Trick or Treat? Looks Like There Won’t Be a Cost-of-Living Adjustment for 2016

If you are a Social Security beneficiary, you’ve probably grown accustomed to seeing a Cost-of-Living Adjustment—or, COLA—in your benefit at the beginning of each calendar year. Since the start of automatic annual COLA \s in 1975, there have only been three years without an increase. Unfortunately, all three of those years have happened since 2010.  The most recent lack of increase is coming in 2016, as announced by the Social Security Administration on October 15.

What is COLA?

The purpose of the COLA is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. The percentage increase (or lack thereof) is based on the increase of the Consumer Price Index (CPI) from the third quarter of last year to the third quarter of the current year.  If there is no increase in this number, there can be no COLA.

How does this impact your Medicare Part B premium?

A majority of Social Security beneficiaries are also enrolled in the Medicare Part B program. This deduction covers certain medical expenses and comes directly out of the monthly benefit.  For example, a majority of beneficiaries paid a monthly premium of $104.90 in 2015.

As of October 19, the Department of Health and Human Services has not yet announced Medicare premium changes for 2016; however, the law contains a “hold harmless” provision that protects approximately 70% of Social Security beneficiaries from paying a higher premium.

Those not protected include higher income beneficiaries and those newly entitled to Medicare Part B in 2016.  Those who receive assistance from the state to pay their premiums will see no change to their benefit.  The state will be required to pay any Medicare Part B premium increase. For further information regarding Medicare changes for 2016, visit

This COLA announcement has put additional pressure on anyone living on a fixed income. Unfortunately, in our ever-changing economy, nothing is guaranteed. Please take this information and be proactive in planning your coming year.

About the Author

Robert L. Heller
Robert L. Heller has practiced law in Ohio for nearly 40 years, devoting his entire career to helping disabled people in the Mahoning Valley to pursue needed benefits. A native of Warren, Ohio, Robert earned his undergraduate degree from Miami University of Ohio and his law degree from the University of Toledo College of Law. He also studied public administration at American University in Washington, D.C. He is admitted to practice in Ohio state courts, U.S. District Court for the Northern District of Ohio and Sixth Circuit U.S. Court of Appeals as well as a member of the National Organization of Social Security Claimant Representatives (NOSSCR).

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