The ad repeats an old and discredited assertion that Mike Sodrel supports the the privatization of Social Security. An ad in 2006 claiming just this was so discredited and untrue that there were calls for it to be pulled from the air. The very Courier-Journal article cited in the ad as the source of Sodrel's position says that this is untrue. Back in 2006, I looked the article up. The text of it is available here.
Mike Sodrel does not support the privatization of Social Security.
Hill, like Carson, simply bandies this issue out there to scare senior citizens into voting for him. Democrats used to always scare seniors with ads suggesting that their Republican opponents supported cutting social security. After decades of the COLA kicking in on schedule, the Democrats had to turn to something new and the privatization label is the one they now try to pin on every Republican candidate whether it's true or not.