News

  • Best Ways To Save December 2015

    In fact, your best bet, and one that could help you save hundreds of dollars on your health insurance costs, is to get the unbiased advice of a trained Medicare benefits counselor through your state Health Insurance Assistance Program. The program provides free one-on-one local health insurance counseling through many local Area Agencies on Aging. To find the agency nearest you, consult your phone book or The Eldercare Locator. You may find the information resources at www.eldercare.gov/Eldercare/Public/Home.asp or you may speak to an Eldercare Locator information specialist by calling toll-free at 1-800-677-1116 weekdays, 9:00 a.m. to 8:00 p.m. (ET). .TSCL agrees that lawmakers must take action soon to stabilize the individual health insurance market and to bring down skyrocketing prescription drug prices. In the coming months, our legislative team will continue to monitor and support legislation like the Improving Access to Affordable Prescription Drugs Act (S. 771, H.R. 1776), which would reduce costs and improve care for older Americans. For updates on this bill and others like it, visit the Bill Tracking section of our website or follow TSCL on Twitter. .Up to 85 percent of Social Security benefits can be subject to taxation if an individual has a combined income of ,000 and married couples filing jointly have a combined income of ,000. Had income thresholds been adjusted for inflation, they would be about ,902 for individuals and ,515 for joint filers in 2020. "Combined income" is determined by adding one's adjusted gross income, plus any tax - free interest income, and one - half of Social Security benefits. … Continued

  • Legislative Update Week Ending January 30 2015

    Virtually all of the changes tend to show inflation as growing more slowly. Independent economist John Williams believes that the combined effect understates the measured rate of inflation by an astonishing 7 percentage points. One of the clearest illustrations of the impact of a major change is seen in the following chart of COLAs between 1976 and 1987. .Terry: The anchor effect is the psychological tendency to rely too much on the first piece of information we get in the process of making a decision. For example, when you go to buy a house, the list price becomes the starting point (the "anchor") for negotiations, even if it is a very poor reflection of the home's true value. When you get a solicitation for a charitable donation in the mail, it often lists suggested contributions, starting with the highest figure they hope you will select. That high figure becomes the anchor for your thinking about what to give. .Over five million Americans are currently living with Alzheimer's disease, and each year thousands more are diagnosed with this painful, heart-rending illness. Most of us know someone—a family member, coworker or friend—suffering from Alzheimer's or dementia. With the number of Alzheimer's patients expected to skyrocket in the coming decades, we must continue to press forward, offering support for family members and caregivers, while developing better and more effective treatment options as we work toward a cure for this terrible disease. … Continued

Here are some questions to consider in shopping for dental insurance: .Fifth, one new cosponsor – Representative Steve Cohen (TN-9) – signed on to the Nursing Home CARE Act (H.R. 4704), bringing the total up to twenty-five. If adopted, H.R. 4704 would protect Medicare and Medicaid beneficiaries by more quickly codifying emergency preparedness rules for nursing home facilities that receive funding from the federal government. .One new cosponsor also signed on to the Strengthening Social Security Act (H.R. 3118), bringing the total up fifty-six. The new cosponsor is Rep. Chellie Pingree (ME-1). If signed into law, the bill would reform the Social Security program in three ways: it would adjust the benefit formula, resulting in more generous monthly benefits; it would adopt the Consumer Price Index for Elderly Consumers (CPI-E), resulting in more accurate cost-of-living adjustments (COLAs), and it would lift the cap on income subject to the payroll tax. The bill would extend the solvency of the Social Security Trust Fund responsibly, without cutting benefits for seniors. .An Emergency COLA in 2021 Would Prevent Economic Insecurity and An Unprecedented Medicare Part B Premium Increase for Older Americans. .Americans 65 and Older See Largest Increase in Poverty .Medicare open enrollment: It pays to get it right ."Even though Medicare premiums and out-of-pocket drug costs are the fastest growing and biggest financial challenge in retirement, that growth is not accounted for in the annual COLA," Johnson says. The consumer price index used to calculate the COLA for retirees reflects the spending pattern of young urban workers, and explicitly excludes people over the age 6But younger workers don't get Medicare, and spend a much lower portion of their incomes on healthcare. .Welcome to the month of February! This week, President Donald Trump addressed the nation in his first State of the Union, and The Senior Citizens League (TSCL) monitored negotiations at one Senate hearing. In addition, four key bills gained new cosponsors in the House and Senate. ."Social Security Stops Trying To Collect On Old Debts By Seizing Tax Refunds," Marc Fisher, The Washington Post, April 14, 2014.