Mark Singer: We could be inlined for the largest cost of living
increase in Social Security since 1981. But it may be even
better than that. In this video, I'm going to share with you what
I'm talking about. But before we get there, subscribe to my
channel, I have over 30 years invested in this business,
talking to my clients. And I want to share with you the
conversations we have with them. According to the senior citizen
League, the cost of living increase could potentially be as
high as 10.5%. It's been over 40 years since we've seen that kind
of number. How do we get there? How do they come up with this
projection? Well, there are a number of different indicators,
inflation indicators, the CPI Consumer Price Index indicators
that will help guide us to understanding what the cost of
living increase could be. The first is the CPI U, the urban
index, and that one is up 9.1%, year over year through June. The
second is the CPI w. And that stands for wages, and that index
is up 9.8% Through June over the past 12 months. Now those
numbers alone, don't tell us exactly what will happen in
October, when the cost of living increase is announced. They'll
take a look at the numbers over the next quarter or so to give
us and understand what the numbers were for the end of
September. So that release with the cost of living increases for
October. But right now, according to the senior citizen
League, it could be as high as 10.5%. But it could be even
more. So let me reveal some behind the scenes information
that you may not be aware of. So last year, the Medicare Part B
premium had a 14.5% increase. And much of that was due to the
brand new Biogen Alzheimer's drug Agilent. And the
expectation was a certain number of usage by folks who are on
Medicare Part B at a very elevated price. And Medicare
made some assumptions relative to how many people would be
using it and what the costs would be, and then assigned the
14.5% increase to cover the outflow of that money. Well,
what happened is, it turns out, there was not as much usage of
that drug and the cost of the drug came down significantly. So
in essence, the guesstimate that Medicare made for the Part B
premium were more than what the reality was, and Medicare is
going to make up for that potentially reducing by upwards
of about 2%, the Medicare Part B premium for next year. So if you
think about this, you have the potential for somewhere around a
10 to 10 and a half percent increase in cost of living on
your Social Security benefit, in addition to a potential about 2%
reduction in your Medicare Part B premium, which may be giving
you somewhere in the vicinity of a 12 to 12 and a half percent
increase next year. Now if you have any more questions up in
our banner, we have a free chapter for you on all the
social security questions you can ask. So go up there and make
sure you click on free chapter