Consumer Price Index for Elderly Consumers Act of 2015

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. 1. Short title This Act may be cited as the Consumer Price Index for Elderly Consumers Act of 2015 2. Consumer Price Index for Elderly Consumers (a) 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 (b) 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. (c) Authorization of appropriations There are authorized to be appropriated such sums as are necessary to carry out the provisions of this section. 3. Computation of cost-of-living increases (a) Amendments to title II (1) In general Section 215(i) of the Social Security Act 42 U.S.C. 415(i) (A) 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 (B) in paragraph (4), by striking and by section 9001 , by section 9001 1986, and by section 3(a) of the Consumer Price Index for Elderly Consumers Act of 2015 (2) 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 (3) 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. (b) Amendments to title XVIII (1) In general Title XVIII of such Act ( 42 U.S.C. 1395 et seq. (A) in section 1814(i)(2)(B) ( 42 U.S.C. 1395f(i)(2)(B) (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 2015 for a year is fifth month of the accounting year , 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 (B) in section 1821(c)(2)(C)(ii)(II) ( 42 U.S.C. 1395i–5(c)(2)(C)(ii)(II) consumer price index for all urban consumers (all items; United States city average) Consumer Price Index for Elderly Consumers (C) in section 1833(h)(2)(A)(i) ( 42 U.S.C. 1395l(h)(2)(A)(i) Consumer Price Index for All Urban Consumers (United States city average) Consumer Price Index for Elderly Consumers (D) in section 1833(i)(2)(C)(i) ( 42 U.S.C. 1395l(i)(2)(C)(i) Consumer Price Index for all urban consumers (U.S. city average) Consumer Price Index for Elderly Consumers (E) in section 1834(a)(14)(L) ( 42 U.S.C. 1395m(a)(14)(L) consumer price index for all urban consumers (U.S. urban average) applicable consumer price index (F) in section 1834(h)(4)(A)(xi)(I) ( 42 U.S.C. 1395m(h)(4)(A)(xi)(I) consumer price index for all urban consumers (United States city average) Consumer Price Index for Elderly Consumers (G) in section 1834(l)(3)(B) ( 42 U.S.C. 1395m(l)(3)(B) consumer price index for all urban consumers (U.S. city average) Consumer Price Index for Elderly Consumers (H) in section 1839(i)(5)(A)(ii) ( 42 U.S.C. 1395r(i)(5)(A)(ii) Consumer Price Index (United States city average) Consumer Price Index for Elderly Consumers (I) in section 1842(s)(1)(B)(ii)(I) ( 42 U.S.C. 1395u(s)(1)(B)(ii)(I) consumer price index for all urban consumers (United States city average) Consumer Price Index for Elderly Consumers (J) in each of subparagraphs (D)(ii) and (E)(i)(II) of section 1860D–14(a)(3) ( 42 U.S.C. 1395w–114(a)(3) 42 U.S.C. 1395w–114(a)(4)(A)(ii) consumer price index (all items; U.S. city average) Consumer Price Index for Elderly Consumers (K) in section 1882(p)(11)(C)(ii) ( 42 U.S.C. 1395ss(p)(11)(C)(ii) Consumer Price Index for all urban consumers (all items; U.S. city average) Consumer Price Index for Elderly Consumers (L) in each of clauses (iv) and (vi)(II) of section 1886(h)(2)(E) ( 42 U.S.C. 1395ww(h)(2)(E) for all urban consumers (M) in section 1886(h)(5)(B) ( 42 U.S.C. 1395ww(h)(5)(B) Consumer Price Index for All Urban Consumers (United States city average) Consumer Price Index for Elderly Consumers (2) 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.

Summary: Consumer Price Index for Elderly Consumers Act of 2015 This bill amends titles II (Old Age, Survivors, and Disability Insurance) and XVIII (Medicare) of the Social Security Act to compute cost-of-living increases for Social Security and Medicare benefits using a new index in place of the current Consumer Price Index (CPI) for All Urban Consumers. The Bureau of Labor Statistics must prepare and publish, for this purpose, a monthly CPI for Elderly Consumers that reflects changes over time to expenditures typical for individuals aged 62 and older.