News

  • Seniors To Get One Of Lowest Colas Ever To Be Paid

    On Wednesday, the Board of Trustees – along with Shannon Benton (Executive Director), former Congressman Van Hilleary (Legislative Consultant), and TSCL's staff – spent the day meeting with four Congressional offices. Support was expressed for a number of bills that would strengthen Social Security benefits for older Americans, including the CPI-E Act (H.R. 3961), the CPI for Seniors Act (H.R. 3074), and the Honesty in CPI Reporting Act (H.R. 3500). .Many seniors have been confused by Medicare Advantage plans, because they are aggressively marketed as offering Part D drug coverage, in addition to hospitalization and doctor's insurance. Some seniors have enrolled in the plans thinking they were getting drug coverage only to add to supplemental coverage they already had. .Home care, though, is much cheaper, overall. The yearly average cost, per person, of a nursing home to Medicaid is ,000 compared with ,000 for home care workers, according to one expert. … Continued

  • Best Ways To Save July 2013

    Survey participants also support making changes to modestly increase benefits by using a senior CPI, the Consumer Price Index for the Elderly (CPI-E), to determine the annual cost of living adjustment (COLA), and to provide a boost of about per month. TSCL is meeting with Members of Congress to enact these changes. With 73% of survey participants reporting that their household expenses in 2015 rose by more than a month, while average Social Security benefits are stuck around ,250 due to low or no COLAs, TSCL is making a strong case that older Americans need a raise! .For information about town hall meetings near you in the final days of the week-long recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here. .With many seniors spending 30 or more years living in retirement, a COLA that keeps up with rising costs is essential protection for making retirement savings last, and for preventing seniors from falling into poverty. Yet over the past five years, Social Security benefits have grown on average about 1.4% per year — less than half the average rate of growth in previous years. Recent projections by the Congressional Budget Office for 2015 suggest another low COLA of 1.6% next year. … Continued

The Super Committee deadline looms and two important bills for seniors are introduced. .Healthcare researchers are questioning the surge in medical testing, particularly the aggressive use of advanced radiology tests like CTs, MRIs and ultrasounds. Their use has become routine, but doctors are not necessarily diagnosing more diseases and the tests can expose patients to high levels of radiation that can cause cancer. Some critics blame "defensive medicine" to avoid malpractice suits, but that's only part of the problem. Some critics say that the tests are becoming a crutch as doctors have less and less time to spend with patients. And all say that the profit motives give doctors incentives to over prescribe the tests. .This week, one Member of Congress introduced legislation that could make the Social Security cost-of-living adjustment (COLA) a more accurate measure of inflation. In addition, The Senior Citizens League (TSCL) saw support grow for two key bills. ."The loss of a job not only means the loss of income, but it also can mean the loss of healthcare benefits, and both employee and employer contributions to retirement accounts," Johnson notes. Depending on how long older workers remain out work, a growing number may turn to Social Security and file claims for benefits earlier than originally planned. That can mean permanently reduced benefits for people who haven't reached their full retirement age. .This week, lawmakers in the House and Senate remained in their home states and districts for a week-long holiday recess. They are expected to return to Washington on Monday, June 3rd. .On Monday, President Obama released his .8 trillion budget request for fiscal 2013, calling it "a blueprint for how we can rebuild an economy where hard work pays off and responsibility is rewarded." While the proposal leaves Social Security as is, many Medicare beneficiaries – especially those considered "high earners" – would see major changes. .If signed into law, this bill would repeal the windfall elimination provision (WEP) and establish a new formula to calculate benefits for those with non-covered earnings. The WEP currently affects more than one million seniors who collect Social Security benefits and have earned pensions from non-Social Security-covered employment. .The Social Security Disability Trust Fund (SSDI) is rapidly closing in on becoming the first of the two Social Security Trust Funds to become fully insolvent. The disability trust fund, which is separate from the one that pays retirement and survivors benefits, is due to have funding problems by 2016. .TSCL has filed three lawsuits under the Freedom of Information Act requesting copies of the agreement and other information and has placed ads in The Washington Times in opposition to the proposed agreement. We will continue to closely monitor the totalization matter.