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Tag Rising Costs Feed
We know that other prevention steps help stop the spread of COVID-19, and that these steps are still important, even as vaccines are being distributed. .At the hearing, the Ranking Member of the Committee – Senator Bob Casey (PA) – presented a bill he introduced called the Beneficiary Enrollment Notification and Eligibility Simplification (BENES) Act. If adopted, his bill would simplify the Medicare enrollment process and help those nearing eligibility avoid costly penalties for late enrollment. .Generally, retirement planners say that to maintain their current standard of living, retirees need to replace 70 percent of their pre-retirement earnings. However, with recent hits to personal savings and 401(k) balances, households are struggling with an erosion in the value of their retirement savings. Also, while workers may plan to retire at a certain age, their retirement decisions are often subject to circumstances outside of their control. A study conducted by McKinsey & Company found that roughly half of all workers who retired earlier than they planned cited health reasons or needing to care for a family member; the other half cited job loss. … Continued
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Legislative Update Week Ending March 24 2017
Senate Committee Discusses Social Security Benefit Maximization .Seniors Speak Out: TSCL Delivers Petition Tsunami To Congress .This week, action on Capitol Hill slowed down as Members of Congress adjourned for a holiday recess. … Continued
The Social Security Fairness Act, if adopted, would make the Social Security program more equitable by repealing the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These two provisions of law unfairly cut the Social Security benefits of millions of teachers, police officers, and other state or local government employees, often by 40 percent or more. By repealing both provisions, the Social Security Fairness Act would ensure that public servants receive the Social Security benefits they have earned and deserve. .Throughout the hearing, the witnesses stressed the importance of acting quickly, before reform options run out and seniors are left with a 23% benefit cut. Despite their pleas, however, it doesn't seem like Congress will be ready to compromise on Social Security reform any time soon. .House Passes Prescription Drug Legislation ., editor, and Terry Newell, President, Leadership for a Responsible Society .During last fall's debt limit deal, Members of Congress passed legislation containing un-debated, secret provisions that made two major changes to Social Security benefit claiming strategies. The changes cut the expected retirement income of some married couples already at full entitlement age. Do you believe entitlement cuts are necessary in exchange for your vote to lift the debt limit in the future? .The Senior Citizens League encourages its supporters to attend these events and to ask important questions of their elected officials, like the following three… .Is his condition found on the Social Security Administration's list of disabling conditions? This is a list of medical conditions that the Social Security Administration considers so severe that it prevents a person from completing substantial gainful activity. .Senior housing experts say they frequently hear clients say they want to live in their own homes. But over time, it can become a great burden, especially when people don't have family that lives close by. Health and physical changes can make it difficult to climb stairs, keep the home clean, and keep up with paying bills. There may be a growing need for help with simple chores like driving to the pharmacy or grocery store. Home maintenance and repairs can even become a source of exploitation from unscrupulous vendors. .Managing the cost of pet care grows more emotionally and financially challenging as we and our pets age. The cost of care often sets up ethical dilemmas, especially for older adults facing unfunded gaps in retirement income.
