Inflation has been tough on many Americans, especially seniors relying on Social Security. The Senior Citizens League — a nonpartisan group focused on senior issues — is now pushing for a "one-time catch-up payment" of $1,400 to help Social Security beneficiaries keep up with rising costs.
Their proposal would come in addition to the regular cost-of-living adjustment that Social Security provides each year.
Why Do Seniors Need More Than The Usual Cola?
COLA is meant to protect Social Security checks from losing value as prices rise. But many seniors feel the current calculations don't fully reflect the expenses they face.
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A TSCL survey shows that nearly 80% of seniors think inflation last year was higher than official government numbers. Their expenses for essentials like housing, medicine, and groceries tend to rise faster than what the government's consumer price index measures.
In fact, many seniors spend more than $1,000 a month just on healthcare, according to the survey. And with medical bills and other living costs climbing, the usual COLA increases haven't been enough to cover what seniors actually pay.
What Exactly Is The Proposed ‘Catch-up Payment'?
TSCL suggests a one-time payment of $1,400 for Social Security recipients to help make up for the shortfall in past COLA increases. This idea isn't new — similar payments were made during tough economic times, like the $250 Economic Recovery Payments in 2009 and the stimulus checks during the COVID-19 pandemic.
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TSCL Executive Director Shannon Benton told Nextstar that this extra payment would give seniors on fixed incomes some much-needed breathing room, especially those who live on very tight budgets. In fact, TSCL estimates that about 7.3 million seniors survive on less than $1,000 a month, which is below the federal poverty level.
What About The Upcoming Cola?
TSCL projects the 2026 COLA to be about 2.6%, a slight increase from this year's 2.5%. While any increase helps, many seniors feel it's still not enough given how fast prices for essentials have been rising.
The group also supports changing how the COLA is calculated. Currently, it's based on the CPI for urban wage earners, but TSCL advocates using the CPI for the elderly, which better reflects the spending patterns of older Americans.
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The Bigger Picture
Nearly all seniors surveyed by TSCL want Social Security and Medicare reform to be a priority for Congress and the president. Many depend on Social Security for their entire income, and cutting benefits isn't an option for millions.
"If four in five seniors think inflation was higher than the government reported, maybe it's time to listen to their experiences and rethink how COLA is measured," Benton says.
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