[Ohio-talk] COMMISSIONER'S BROADCAST -- 10/15/15

[Suzanne Turner]

Subject: Information on 2016 COLA 

Today, we announced that there will be no cost-of-living adjustment (COLA) in 2016. 

The Social Security Act provides for an automatic increase in Social Security and Supplemental Security Income (SSI) benefits if there is an increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).  The Bureau of Labor Statistics has determined that there is no increase in the CPI-W.  Under existing law, there can be no COLA in 2016.

Other adjustments that would normally take effect based on changes in the national average wage index also will not take effect in January 2016.  Information about Medicare changes for 2016, when available, will be found at http://www.medicare.gov/.  You can also find details about the latest COLA at www.socialsecurity.gov/cola. 



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