The CPI-W for May 2021 (263.612) indicate a 2022 COLA OF 4%
EXAMPLE: 263.612-253.412/253.412x 100 = (adjusted to the nearest 1/10 of 1 percent = 4.02%
253.412 is the average CPI-W for July, August and September 2020.
Actual COLA depends on average for July, August and September 2021.
Great for the COLA but for all those who are not on Social Security that increase is brought to by the letter “I” for in Inflation. CPI-U was 5% for May. Released this morning by BLS.gov.
But anybody who has been to a store already knows this.
If, by chance we do get that much COLA what will the increase be for Medicare premiums? Usually when the COLA goes up so does the premium for Medicare leaving us without much increase.
good question. Based on the Trustee report for 2020 the Part B premium should have been 153.30 for 2021, but it was artificially held to $148.50. by Congress. It was projected to be $157.70 in 2022. The question is will it be allowed to go the the correct level or not and now after COVID, what is the right level?
Mr. Quinn – the divisor should be 253.412
you’re right I screwed up.
RD – I just wish our political leaders would come clean and admit that they have screwed up with COVID, the budget, taxes, schools, infrastructure. But, I know that will never happen. 20 years in the military taught me that no one in government is really ever held accountable for their screw ups.