News
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New Study Seniors Lose 31 Of Their Buying Power 2
What Is the Risk of Catching the Coronavirus on a Plane? .Since 2010, seniors have failed to receive a COLA increase three times. When a COLA increase did occur, it has never met seniors' needs. In 2016, the increase was a meager 0.3% and it was only 2% in 2017. .According to the report, the triggering of hold harmless will continue on an individual basis, particularly when inflation is lower than forecast (about 2.4 percent) or if Medicare Part B premium increases are higher than forecast (5%), or both. The risk for both is high, because over the past 8 years COLAs have averaged just 1.2 percent and since 2000 Medicare Part B premiums have increased on average more than 10 percent per year. According to the report, individuals with the lowest benefits, 0 or less, are the most likely to be affected by hold harmless on an individual basis over the next decade, even in years when a COLA is payable, particularly if Medicare Part B premium increases are higher than expected. … Continued
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New Legislation Would Combat Scams Against Seniors Investments
New Social Security COLA Legislation Introduced .Questions have swirled around the accuracy of many of the more than 100 tests available, often imported from around the world by little-known distributors, that were rushed onto the market as the outbreak exploded. U.S. regulators initially allowed them and required little evidence from manufacturers, then subsequently put some requirements in place as criticism of the approach mounted. .Where do you want to live and how will you get around? Do you plan to stay where you are, move to senior housing, or someday move in with family? Is it cheaper to rent or to buy? If you own a home, will your financial plan cover the annual maintenance and inevitable upkeep and repairs such as painting or replacing a roof? Will you have access to public transportation if you can no longer drive or afford a vehicle? Look for local workshops that review the types of housing options in your area for people over 60. … Continued
As we've found out in our meetings with Congressional staff members, Congress is hearing thousands of complaints from voters who want surprise billing stopped. But, they are also hearing from the health care providers who are making a lot of money from surprise billings and they are fighting back to try and stop or modify legislation. Because of the pressure Congress is receiving from opposing sides, getting legislation to fix the problem is more complicated than you might expect. There are four bills in the Senate to deal with the issue and five in the House. .It's important to compare your prescription drug costs based on the drugs you actually take under Part D and Medicare Advantage plans since that expense for most people is their most significant cost, next to premiums. You can compare Medicare Part D drug plans and Medicare Advantage online at www.Medicare.gov by clicking on the link for "find drug and health plans." You can do a general search based on your zip code, and the drugs you input. .Give yourself a Benefits Check Up: If your savings are gone, and you aren't able to get a side job, you might qualify for programs that can help pay for Medicare Part B premiums, drug costs, meals, heating and cooling your home, rental subsidies and other costs. Using the National Council on Aging's Benefits Check Up online tool is simple. You answer a few screening questions and you can get the contact information for programs in your area. .This week, action on Capitol Hill remained slow as the fall recess continued. .If adopted, S. 61 would allow for the personal importation of safe and affordable drugs from approved pharmacies in Canada. .Your cost-of-living adjustment (COLA) "overpays" you. Yes, that is an outrageous statement — especially since you haven't gotten a COLA boost for two years. Nevertheless, calling it "The Moment of Truth Project," that's what the President's Fiscal Commission is saying in making the case for the government to switch to a more slowly- growing "chained" Consumer Price Index (CPI). .In a normal year the two-week period around Christmas and New Years Day is a slow news period. But, as with so much else, that was not true this year. .The Department of Homeland Security (DHS) recently began a review of all pending immigration deportation cases with the goal of dismissing those of illegal immigrants with no criminal records. TSCL is concerned that the policy, which would scale back deportations of hundreds of thousands of illegal immigrants, could potentially add hundreds of billions in new costs to the growing deficit problems of Social Security, SSI, Medicare and Medicaid. . Four Key Bills Gain Support in Congress
