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.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Consumer Price Index for Elderly 
Consumers Act of 2005''.

SEC. 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'' 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.
    (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.

SEC. 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)) is amended--
                    (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''; and
                    (B) 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,''.
            (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 by the Commissioner of 
        Social Security under section 215(i)(2) of the Social Security 
        Act (42 U.S.C. 415(i)(2)) 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.) is amended--
                    (A) in section 1814(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 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'';
                    (B) in section 1821(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'';
                    (C) in section 1833(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'';
                    (D) in section 1833(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'';
                    (E) in section 1834(a)(14)(J), by striking 
                ``consumer price index for all urban consumers (U.S. 
                city average)'' and inserting ``Consumer Price Index 
                for Elderly Consumers'';
                    (F) in section 1834(h)(4)(A)(x), by striking 
                ``consumer price index for all urban consumers (United 
                States city average)'' and inserting ``Consumer Price 
                Index for Elderly Consumers'';
                    (G) in section 1834(l)(3)(B), by striking 
                ``consumer price index for all urban consumers (U.S. 
                city average)'' and inserting ``Consumer Price Index 
                for Elderly Consumers'';
                    (H) in section 1839(i)(5)(A)(ii), by striking 
                ``Consumer Price Index (U.S. city average)'' and 
                inserting ``Consumer Price Index for Elderly 
                Consumers'';
                    (I) in section 1842(s)(1), by striking ``consumer 
                price index for all urban consumers (United States city 
                average)'' and inserting ``Consumer Price Index for 
                Elderly Consumers'';
                    (J) in each of subparagraphs (D)(ii) and (E)(i)(II) 
                of section 1860D-14(a)(3)(D)(ii) and in each of clauses 
                (i) and (ii) of section 1860D-14(a)(4)(A), by striking 
                ``consumer price index (all items; U.S. city average)'' 
                and inserting ``Consumer Price Index for Elderly 
                Consumers'';
                    (K) in section 1882(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'';
                    (L) in each of clauses (iv) and (vi)(II) of section 
                1886(h)(2)(E), by striking ``for all urban consumers''; 
                and
                    (M) in section 1886(h)(5)(B), by striking 
                ``Consumer Price Index for All Urban Consumers (United 
                States city average)'' and inserting ``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 2005 - Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish a monthly Consumer Price Index for Elderly Consumers (CPI) that indicates changes over time in expenditures for consumption which are typical for individuals aged 62 years of age or older. Authorizes appropriations.

Amends titles II (Old Age, Survivors and Disability Insurance) (OASDI) and XVIII (Medicare) to provide for the use of such new CPI in the computation of cost-of-living increases for Social Security and Medicare benefits under such programs.