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  • Best Ways To Save When Should You Enroll In Medicare

    But a study of typical senior costs conducted by TSCL indicates that COLAs aren't doing a very good job of keeping up with rising prices now, primarily because the CPI isn't fully reflecting the portion of income that seniors must spend on rapidly rising healthcare costs. The study found that the Social Security benefits have lost 32 percent of their purchasing power since 2000. .Under the rule he's considering formally proposing, Trump would order reimbursement for certain Part B drugs to be tied to what's known as the International Price Index. That would mean a price cut for many medicines, since the prices drug makers charge outside the U.S. are often set by government-run health-care systems and are generally lower. Medicare doesn't use its position as a big buyer of drugs to bargain for lower prices. .President Gives First State of the Union … Continued

  • Legislative Update Week Ending September 26 2014

    It closed the Medicare outpatient therapy cap. Before the passage of the Bipartisan Budget Act, Medicare coverage for various forms of outpatient therapy – including physical therapy and speech therapy – was arbitrarily capped at ,500 per year. For years, lawmakers sought to repeal this cap since it limited the care older Americans could receive under Medicare. TSCL advocated tirelessly for Congressman Erik Paulsen's (MN-3) bipartisan Medicare Access to Rehabilitation Services Act (H.R. 807), and we were thrilled that a similar provision was included in this year's bipartisan budget agreement, repealing the therapy cap once and for all. .Despite the efforts of TSCL and others, knowledge of the U.S – Mexico Totalization Agreement remains limited on Capitol Hill, and the issue flies under radar for the most part. TSCL has expressed its support for resolutions in opposition to the totalization agreement. In addition, TSCL is supportive of legislation, such as the Social Security Totalization Agreement Reform Act, which would grant more time for congressional review of these agreements. TSCL also supports loophole-closing legislation which would prevent individuals who worked in the U.S. while illegal from receiving credit for that work for purposes of Social Security benefit calculations. .In addition, President Obama issued a veto threat earlier this week when he released a Statement of Administration Policy that read: "The Administration is committed to strengthening Medicare for those who depend on it and protection of the public's health. We believe this legislation fails to accomplish these goals." … Continued

You are asking yourself the right questions. Many people buy life insurance to replace the income that would be lost when the policyholder dies and no longer is paid a salary. Once you stop working, most of your income is likely to come from retirement savings, pensions, annuities, and Social Security, which pays survivors benefits, if you or a spouse dies. There can be special needs, however, and for some retirees, life insurance may make sense. Here are a few major considerations: .The first session of the 113th Congress has just reached the half-way mark, and already, The Senior Citizens League (TSCL) has much to show for it. Dozens of key bills have been re-introduced, hundreds of thousands of petitions have been hand-delivered to Congress, TSCL's legislative team and Board of Trustees have met with numerous Members of Congress, and in May, we hosted a successful "Welcome Reception" for new and veteran lawmakers and their top aides. .Women who earn less are particularly disadvantaged because females tend to live longer compared to men but have to live on less in benefits. The Social Security Administration website tells us that the typical woman receives ,218 each month while the typical man receives ,534 per month — meaning that, on average, men receive 25% more in Social Security benefits. This means that women have much less money to cover their expenses over a longer period. .Many Members of the Subcommittee focused on raising the retirement age, though Mr. Blahous assured them that this action could not fix the shortfall on its own, or seniors would be working well into their late seventies. .The Senior Citizens League (TSCL) has concerns about a number of elements outlined in the revised Simpson-Bowles plan – namely the adoption of the "chained" CPI, since seniors are already being short changed by the COLAs they receive. The plan released this week is not likely to be adopted in its entirety, but it will serve as an important comparative tool in the coming weeks as leaders in Washington continue to search for sequester alternatives. The automatic cuts are scheduled to hit on Friday, March 1st, but leaders have said they believe the deadline is flexible and their best chance at redesigning it might come at the end of the month, when the continuing resolution to fund the government expires. Until then, TSCL will continue to monitor the negotiations, and we will post updates here in the Legislative News section of our website. .While the cost of the prescription is affordable, the drug causes a number of serious side effects. Susan needs to see her doctor more frequently for monitoring and blood tests. Her biggest prescription cost surprise was learning that her prescription vitamin, folic acid, which she needs to fight the side effects, was not covered under Medicare. Her Part D plan wanted 0.00 for a one-month supply. Susan instead orders an over-the-counter supply of 400 pills for .99 on Amazon, taking 7 pills every day to get to the required dosage, which is still not as effective as the prescription version of folic acid. Now her doctor is considering a different medication. .Members of the House adjourned for a week-long recess on Monday, but budget talks continued for the lawmakers that sit on the bicameral conference committee. While many have reportedly been meeting behind closed doors, Sen. Bernard Sanders (VT) took his message public in a news conference that announced his opposition to including entitlement cuts in a budget package. He said this week, "On these issues, Congress is way out of touch. The American people do not want to cut Social Security, Medicare, and Medicaid." .The announcement of the annual Social Security cost-of-living adjustment (COLA) for the following year is like watching Charlie Brown trying to kick a football. Charlie Brown, our beloved cartoon character by Charles Schultz, gets talked into kicking off a football by the diabolical Lucy. Just as Charlie runs up to the football. Social Security Announces 1.3% COLA For 2021, One of Lowest Ever Paid Social Security recipients will receive an annual inflation boost of just 1.3% in 202The increase is so small, it's one of the lowest on record. The 2021 cost of living adjustment (COLA) will increase the average retiree ,523 benefit by about per month to ,54That increase is expected to be significantly offset,. An Emergency 2.5% COLA Could Add ,000 To Your Social Security Income Over the First Ten Years , editor .GOP Backs off "No New Taxes" Stance