The Social Security COLA for 2013 is still looking very modest. See other posts on this blog for an explanation of the calculation.
An increase in the 1.3% range means there will likely be no limit on any increase in Medicare Part B premiums for the vast majority of beneficiaries. The average monthly SS benefit in June was $1233.00 and 1.3% of that is $16.02. To exceed that the standard Part B premium for most Americans with Medicare must increase more than 16% and that ain’t gonna happen a few weeks before the election.
However, given the upcoming election it will be interesting to see what CMS does with premiums for 2013 as they continually claim victories in managing Medicare costs.
The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) increased 1.3 percent over the last 12 months to an index level of 225.568 (1982-84=100). For the month, the index decreased 0.2 percent prior to seasonal adjustment.
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