Wage Index

Wage Index

In the United States, a table one uses to calculate how much to pay a retired person in Social Security benefits. Factors affecting a wage index include the number of years a person worked and his/her average wage or salary during his/her working life.
References in periodicals archive ?
The basis of CKK's criticism is their assertion that our minimum wage index ought to "have a positive association with the average wage of teenagers.
The UMWA wage index, unlike the IPP, is not published.
The 1904 wage index for all industries was linked to the general index for 1890-1903 on the basis of changes in those establishment studied in both 1903 and 1904, and this chaining procedure was followed for subsequent years to 1907.
2% and 13%, respectively, due to a wage index adjustment that favorably affected some Massachusetts hospitals.
There are also facility-level adjustments for ESRD facilities that have a low patient volume or rural locality, and for wage index.
Furthermore, hospital wage index (standardized, with one standard deviation increment) is included to control for regional differences in the purchasing power of Medicaid payments and the price of medical and nursing services.
7% from July to August 2003, while the wage index and the index for administration costs had increased respectively by 0.
The hospital area wage index is used by CMS to adjust prospectively set Medicare payment rates for regional variation in labor costs.
1, 1998, seeking reclassification from the Jonesboro MSA to the Memphis MSA for the purpose of its wage index for the fiscal year 2000.
Earnings are adjusted using a wage index rather than a price index.
Under IPPS, HHS pays hospitals a flat amount per discharge (also known as the "standardized amount"), which is adjusted by three factors: a weighting factor based on the costs of treating the particular condition (also known as a "Diagnosis Related Group"), a wage index factor based on labor costs in the hospital's geographic area, and an inflation factor.