On the Hill This Month
October was a quiet month on Capitol Hill. Lawmakers headed home to campaign and meet with voters ahead of Election Day. But The Senior Citizens League (TSCL) never stopped tracking the issues that matter most to seniors. Here’s what you need to know.
Your 2027 COLA Is Official
Good news and a familiar frustration arrived together on October 14, when the Social Security Administration announced a 3.6% cost-of-living adjustment for 2027. For the average retiree, that works out to be about $75 more per month. TSCL’s projection landed right around 3.6%, so the number itself didn’t surprise us. The harder question is what the raise actually covers. The 2027 Medicare Part B premium is typically announced in mid-November, and that number will show how much of the increase gets taken back before it ever reaches a member’s kitchen table. One more detail worth knowing: the maximum earnings subject to Social Security tax rises to $192,300, up from $184,500.
Medicare Open Enrollment: What’s Changing
Open enrollment began October 15 and runs through December 7, and this year it deserves more than a quick glance. The yearly out-of-pocket cap on Part D drug coverage rises to $2,400 from $2,100, and the standard deductible climbs from $615 to $700. A temporary federal subsidy that helped hold down Part D premiums also ends at year’s end, so some members may see higher premiums. The bright spot is that negotiated prices take effect for 15 more high-cost drugs. The administration has also announced a one-time $90 payment to help some people with Part B premiums [confirm details before publishing]. Our advice is simple: compare plans, even if you’re happy with yours, because drug lists and costs change every year.
Legislative News
With the Social Security trust fund projected to run short in 2032, two bipartisan bills aim to get Congress moving, and both remain in committee. In the House, the commission bill from Reps. Tom Cole (R-OK) and Tom Suozzi (D-NY) would set up a panel to recommend a fix. In the Senate, the PROMISE Act of 2026 (S. 4979) would require Congress to consider a plan to fund full benefits for at least 50 years. Neither has had a floor vote. Meanwhile, October’s 3.6% COLA announcement puts new attention on the Boosting Benefits and COLAs for Seniors Act. It would base the yearly COLA on CPI-W or CPI-E, whichever is higher, a change TSCL has long pressed for so that COLAs better reflect the costs seniors face.