Section 1 Short title
This Act may be cited as the “Consumer Price Index for Elderly Consumers Act of 2013”.
Consumer Price Index for Elderly Consumers Act of 2013
A BILL
To require the establishment of a Consumer Price Index for Elderly Consumers to compute cost-of-living increases for Social Security and Medicare benefits under titles II and XVIII of the Social Security Act.
Sec. 2 Consumer Price Index for Elderly Consumers
In general— The Bureau of Labor Statistics of the Department of Labor shall prepare and publish an index for each calendar month to be known as the Consumer Price Index for Elderly Consumers that indicates changes over time in expenditures for consumption which are typical for individuals in the United States who are 62 years of age or older.
Effective date— Subsection (a) shall apply with respect to calendar months ending on or after July 31 of the calendar year following the calendar year in which this Act is enacted.
Authorization of appropriations— There are authorized to be appropriated such sums as are necessary to carry out the provisions of this section.
Sec. 3 Computation of cost-of-living increases
Amendments to title II—
in paragraph (1)(G), by inserting before the period the following: “, and, solely with respect to any monthly insurance benefit payable under this title to an individual who has attained age 62, effective for adjustments under this subsection to the primary insurance amount on which such benefit is based (or to any such benefit under section 227 or 228) occurring after such individual attains such age, the applicable Consumer Price Index shall be deemed to be the Consumer Price Index for Elderly Consumers and such primary insurance amount shall be deemed adjusted under this subsection using such Index”; and
in paragraph (4), by striking “and by section 9001” and inserting “, by section 9001”, and by inserting after “1986,” the following: “and by section 3(a) of the Consumer Price Index for Elderly Consumers Act of 2013,”.
Conforming amendments in applicable former law— Section 215(i)(1)(C) of such Act, as in effect in December 1978 and applied in certain cases under the provisions of such Act in effect after December 1978, is amended by inserting before the period the following: “, and, solely with respect to any monthly insurance benefit payable under this title to an individual who has attained age 62, effective for adjustments under this subsection to the primary insurance amount on which such benefit is based (or to any such benefit under section 227 or 228) occurring after such individual attains such age, the applicable Consumer Price Index shall be deemed to be the Consumer Price Index for Elderly Consumers and such primary insurance amount shall be deemed adjusted under this subsection using such Index”.
Effective date— The amendments made by paragraph (1) shall apply to determinations made with respect to cost-of-living computation quarters ending on or after September 30 of the second calendar year following the calendar year in which this Act is enacted.
Amendments to Title XVIII—
in section 1814(i)(2)(B) (42 U.S.C. 1395f(i)(2)(B)), by inserting “(i) for accounting years ending before October 1 of the second calendar year following the calendar year in which the Consumer Price Index for Elderly Consumers Act of 2013 was enacted,” after “for a year is”, and by inserting after “fifth month of the accounting year” the following: “, and (ii) for accounting years ending after October 1 of such calendar year, the cap amount determined under clause (i) for the last accounting year referred to in such clause, increased or decreased by the same percentage as the percentage increase or decrease, respectively, in the medical care expenditure category (or corresponding category) of the Consumer Price Index for Elderly Consumers, published by the Bureau of Labor Statistics, from March of such calendar year to the fifth month of the accounting year”;
in section 1821(c)(2)(C)(ii)(II) (42 U.S.C. 1395i–5(c)(2)(C)(ii)(II)), by striking “consumer price index for all urban consumers (all items; United States city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1833(h)(2)(A)(i) (42 U.S.C. 1395l(h)(2)(A)(i)) by striking “Consumer Price Index for All Urban Consumers (United States city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1833(i)(2)(C)(i) (42 U.S.C. 1395l(i)(2)(C)(i)), by striking “Consumer Price Index for all urban consumers (U.S. city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1834(a)(14)(L) (42 U.S.C. 1395m(a)(14)(L)), by striking “consumer price index for all urban consumers (U.S. urban average)” and inserting “applicable consumer price index”;
in section 1834(h)(4)(A)(xi)(I) (42 U.S.C. 1395m(h)(4)(A)(xi)(I)), by striking “consumer price index for all urban consumers (United States city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1834(l)(3)(B) (42 U.S.C. 1395m(l)(3)(B)), by striking “consumer price index for all urban consumers (U.S. city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1839(i)(5)(A)(ii) (42 U.S.C. 1395r(i)(5)(A)(ii)), by striking “Consumer Price Index (United States city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1842(s)(1)(B)(ii)(I) (42 U.S.C. 1395u(s)(1)(B)(ii)(I)), by striking “consumer price index for all urban consumers (United States city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in each of subparagraphs (D)(ii) and (E)(i)(II) of section 1860D–14(a)(3) (42 U.S.C. 1395w–114(a)(3)) and in section 1860D–14(a)(4)(A)(ii) (42 U.S.C. 1395w–114(a)(4)(A)(ii)), by striking “consumer price index (all items; U.S. city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in section 1882(p)(11)(C)(ii) (42 U.S.C. 1395ss(p)(11)(C)(ii)), by striking “Consumer Price Index for all urban consumers (all items; U.S. city average)” and inserting “Consumer Price Index for Elderly Consumers”;
in each of clauses (iv) and (vi)(II) of section 1886(h)(2)(E) (42 U.S.C. 1395ww(h)(2)(E)), by striking “for all urban consumers”; and
in section 1886(h)(5)(B) (42 U.S.C. 1395ww(h)(5)(B)), by striking “Consumer Price Index for All Urban Consumers (United States city average)” and inserting “Consumer Price Index for Elderly Consumers”.
Effective date— The amendments made by paragraph (1) shall apply with respect to determinations made for periods ending after December 31 of the second calendar year following the calendar year in which this Act was enacted.