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Insider’s Report: Here’s what you can expect for your earned benefits in the year ahead
The 2025 Social Security COLA
The new year is here! And millions of older Americans can expect to see a small 2.5% COLA in 2025. With the exception of a few years, this continues an alarming trend of low COLAs despite the fact that automatic COLAs were legislated to protect the buying power of Social Security beneficiaries! It’s why the National Committee supports the passage of legislation ( [link removed] ) that better reflects the unique spending patterns of seniors.
Prescription Drug Prices
Starting this year, as part of the Inflation Reduction Act, Medicare will cap Part D out-of-pocket costs at $2,000 per year, which will help an estimated 1.4 million beneficiaries. As a reminder, Medicare beneficiaries have been reaping the benefits of this critical drug pricing reform law ( [link removed] ) since 2023, when it began capping insulin costs at $35 a month and requiring drug companies to provide rebates if drug prices rise faster than inflation.
And in 2026 Medicare will implement the negotiated prices of certain high-cost prescription drugs.
Victory for Social Security Beneficiaries
On January 5, President Biden signed the Social Security Fairness Act ( [link removed] ) (H.R. 82/S. 597) into law. This important bill which the National Committee endorsed, repeals two unpopular provisions of Social Security law — the WEP (Windfall Elimination Provision) & GPO (Government Pension Offset). These rules prevent certain public sector retirees and family members from collecting some or all of their Social Security benefits.
The National Committee supported this bill because it removes an unfairness in the system by finally allowing teachers, firefighters and police officers (among others) and their families to collect full Social Security benefits. Many of our own members and supporters made it clear that they wanted the WEP & GPO repealed.
What we can expect from our opponents in 2025 …
Make no mistake: The forces aiming to destroy our treasured Social Security and Medicare programs remain committed to attacking these programs in order to pay down the national debt and extend massive tax cuts for the millionaires, billionaires and wealthy corporations. The stakes are high. But we can protect Social Security and Medicare, and keep them solvent for the future, without cutting benefits for millions of Americans if we organize, mobilize and make our voices heard on Capitol Hill.
I look forward to working with you in the immediate days and weeks ahead.
In the meantime, please help us ensure your voice, as a senior American, is heard loud and clear by newly elected and re-elected lawmakers during this time of heightened threats to your earned benefits. Sign our Emergency Petition to Congress today! ( [link removed] )
DONATE ( [link removed] )
Make a donation now to help us keep the pressure on Congress. Your continued support is essential to the National Committee's mission. ( [link removed] )
Wrapping Up the Best of 2024 You Earned This Podcasts
Don’t have time to listen to all of our “You Earned This” podcasts? That’s ok because we’ve got you covered with a highlight episode ( [link removed] ) featuring a sampling of some of the best podcast episodes from Seasons 1 and 2. This episode features VIP guests Jim Roosevelt (grandson of FDR), Senator Sheldon Whitehouse (RI), U.S Representative John Larson (CT-01), and Bill Arnone (former CEO of the National Academy of Social Insurance (NASI) and former aide to RFK, Sr.), plus top experts with insights and helpful advice for seniors and their families on Social Security, Medicare, Aging and prescription drug costs.
Ask Us!
Whether you’re retired or approaching retirement, our team of experts in the field of Social Security policy is available to answer your questions about benefits.
You can either search our archives ( [link removed] ) for valuable advice on a broad range of concerns or submit your question here ( [link removed] ).
This week’s question is:
I am retired on disability and receive SS Disability. Does my wife receive the same benefit amount that I am receiving at the time of death?
Click here to read the answer. ( [link removed] )
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Ask Us
Whether you’re currently retired or approaching retirement, we can help answer your questions and provide valuable advice on Social Security.
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Your support sustains our campaigns in Washington to protect and strengthen Social Security and Medicare.
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Social Security Benefits
Learn more about the Social Security program and the policies the National Committee supports that would strengthen your earned benefits.
President Biden Signs Historic Social Security Legislation, ‘Righting a 50 Year Wrong’ ( [link removed] )
President Biden’s signing of the Social Security Fairness Act on Sunday truly is historic. The new law rights a wrong that for the last 50 years has either reduced or eliminated the Social Security benefits of certain government retirees. (January 5, 2025, www.ncpssm.org ( [link removed] ), Entitled to Know blog)
Read More → ( [link removed] )
Biden signs bill to increase Social Security benefits for millions of public workers ( [link removed] )
“Our organization has spent decades lobbying for the repeal of the WEP and GPO,” Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, said in a statement. (January 5, 2025, CNBC, Lorie Konish)
Read More → ( [link removed] )
Medicare's new $2,000 prescription drug cap goes into effect. Here's how it works. ( [link removed] )
Starting Jan. 1, 2025, millions of Americans who get their prescription drugs through Medicare could get a major financial break when a $2,000 out-of-pocket spending cap on medications goes into effect. The yearly price cap has been in the works since President Joe Biden signed the Inflation Reduction Act into law in 2022, with that legislation including provisions tackling drug costs for seniors as well as other Americans. (January 2, 2025, CBS News, Aimee Picchi)
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Problems with Medicare Advantage Plans Keep Mounting ( [link removed] )
Complaints and problems with Medicare Advantage include denial of service and slow care approvals. Consumers need to pay attention. (January 4, 2025, Kiplinger, Elaine Silvestrini)
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Here are big changes retirees can expect from Social Security and Medicare in 2025 ( [link removed] )
Retirees can expect to see some big changes in 2025 when it comes to their Social Security and Medicare benefits. (January 4, 2025, CNBC, Lorie Konish)
Read More → ( [link removed] )
Judge David S. Tatel on Blindness & Justice ( [link removed] )
Judge David S. Tatel is a senior with an inspiring story to tell. He was the first blind judge to sit on the federal appeals court—the powerful U.S. Court of Appeals for the DC Circuit. In this episode, Judge Tatel renders opinions on the direction of the Supreme Court, the personal growth that can come with aging and the life-changing experience of working with his seeing-eye dog, Vixen! (December 17, 2024, the National Committee’s “You Earned This” podcast)
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