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  • Best Ways To Save March April 2020

    There is no simple, direct mechanism for regulators or legislators to control pricing. Our laws, in fact, favor business: Medicare is not allowed to engage in price negotiations for medicines covered by its Part D drug plan. The Food and Drug Administration, which will have to approve the manufacturer's vaccine for use as "safe and effective," is not allowed to consider proposed cost. The panels that recommend approval of new drugs generally have no idea how they will be priced. .The Senior Citizens League is predicting another record-low Social Security cost-of-living adjustment (COLA) in 2020 despite skyrocketing prescription drug prices and home heating costs. Will you cosponsor the Fair COLA for Seniors Act (H.R. 1553), which would make the COLA more adequate for Social Security beneficiaries? .Unlike other government penalties, such as a tax penalty, the extra 0 per month is permanent, and is payable for the rest of the time he has Medicare. To avoid further penalties, we strongly urge your daughter to get her father-in-law enrolled in Medicare Part B as quickly as possible. If her father-in-law only receives Social Security and has limited savings, he may qualify for a Medicare Savings Program that would pay the cost of the Part B premium. … Continued

  • Category News Press Releases Page 7

    Ultimately, seniors aren't just a class of individuals who are a certain age — they are our mothers and fathers, grandparents, teachers, pastors, and public servants. They are each of us, either today or tomorrow. As a nation, it is incumbent upon us to prioritize safeguarding the futures of our senior citizens and addressing some of the obstacles to saving that exist both in our system and in our society. It is not just "their" future, it is our future. We're in this together. Let's secure our futures. .Other countries, such as Britain, take a more head-on approach: a national body does a cost-benefit analysis regarding the price at which a new drug is worth being made available to its citizens. Health authorities then use that information to negotiate with a drug maker on price and to develop a national reimbursement plan. .According to new census estimates, elderly Americans 65 or older incurred the largest increases in poverty among all age groups. The estimates reflect a new formula used to measure poverty. … Continued

Medicaid is the largest payer of long-term support services such as home care for the elderly, but states are not required to participate in the home and community-based program. .TSCL has many veterans among its supporters and no-doubt not all of them have a disability rating so they may be happy to know that Congress is considering including them in the VA's Covid-19 vaccination efforts. .Do you have a mortgage? A recent survey by national mortgage banker American Financing found that 44% of Americans between the ages of 60 and 70 have a mortgage when they retire. Of that group, almost one-in-three expect to be paying on their mortgage for at least eight more years. Life insurance can cover mortgage payments if you die, and a term life policy can be timed to end with debt payments. .The COLA also doesn't reflect cost increases in Medicare premiums and other rapidly growing Medicare costs. Research for The Senior Citizens League has found that Medicare Part B premiums are one of the fastest growing costs in retirement. Medicare Part B premiums, which are automatically deducted from Social Security checks, often consume most, or even all, of the COLA increase. .Sources: "Divided Deficit Panel OKs Proposal," John Maggs, Politico, December 3, 20"The Moment of Truth" The National Commission on Fiscal Responsibility and Reform, December 2010. .By Rick Delaney, Chairman of the Board .Understand what is covered and what isn't. First the good news: You are probably covered in case a meteorite strikes your home. Now the bad: Your coverage probably doesn't protect you from floods or even a sewer back up. You may be underinsured. Insurance industry surveys indicate, for example, that 43% of homeowners believe damage from heavy rain flooding is covered under the standard insurance policy. It isn't. To be protected you must purchase supplemental flood insurance or other types of riders to your homeowners policy. The same may be true of wild fires, mudslides, sink holes and other natural disasters. If you live in a high-risk zone, consider adding flood or other supplemental coverage. .With over 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. .The petitions that poured into Congressional offices this spring urged each Representative and Senator to support key bills like the Consumer Price Index for Elderly Consumers (CPI-E) Act, the Social Security Fairness Act, and the Notch Fairness Act, each of which would go a long way in protecting the earned benefits of seniors. The petitions also protested issues that our members feel strongly about, like amnesty for illegal immigrants and the pending Social Security Totalization Agreement with Mexico.