Ask The Advisor We Are Held Hostage By Our Drug Plans Feed
TSCL agrees with Congressman Duncan, and we enthusiastically support the CPI for Seniors Act. In a letter of endorsement, Art Cooper – Chairman of TSCL's Board of Trustees – wrote: "Unfortunately, years of record-low COLAs like this one – including multiple years of zero COLAs – will have a devastating impact on the long-term adequacy of Social Security benefits for more than 59 million beneficiaries … Your bill would go a long way in ensuring the retirement security older Americans have earned and deserve, and we look forward to informing our members and supporters about your efforts on Capitol Hill." .Sen. Mazie Hirono (HI) introduced S. 960 on April 15, 201It has since been referred to the Committee on Finance. .After leaving major decisions on Social Security and Medicare cuts to the New Year, Members of Congress are returning to pick up their debate over entitlements and taxes. With the looming insolvency of the Social Security disability program just two short years away, Congress will be forced to take action to re-set program funding at some point soon. When that happens, cost-of-living adjustment (COLA) cuts could be used to shore up the program. … Continued
The Senior Citizens League Tscl Petition To The Democratic National Committee
The FTC Advisory Group would bring together relevant government agencies, consumer advocates, and industry representatives to collect and develop model educational materials for retailers, financial institutions, and wire transfer companies to use in preventing scams on seniors. The FTC would coordinate efforts to educate the public and even the employees of key industries who often find themselves on the front lines of anti-scamming activities. .As we know more, CDC will continue to update our recommendations for both vaccinated and unvaccinated people. .The extensions will cost approximately 0 billion over ten years, and billion of that will be paid for by spending cuts and revenue increases. The remaining 0 billion, however, will be added to the budget deficit. … Continued
This week, two new cosponsors signed on to the Strengthening Social Security Act (S. 567 and H.R. 3118), bringing the total up to three in the Senate and thirty-nine in the House. The new cosponsors are Sen. Sherrod Brown (OH) and Mark Pocan (WI-2). 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 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 Strengthening Social Security Act would extend the solvency of the Social Security Trust Fund responsibly, without cutting benefits for seniors. .Low-income seniors and disabled adults who qualify for benefits under both Medicare and Medicaid frequently have multiple chronic health problems, and more than half have cognitive or mental impairments. More than half of dual eligibles also have annual incomes of less than ,000, and are more likely to receive nursing .Unfortunately, this has become standard operating procedure in Congress, regardless of who's in power. And even shutting down the government for a period of time is no longer seen to be the drastic action it once was. .A 2.5% COLA would boost an average monthly benefit of about ,500 by an additional ,000 over the next ten years through 2030. An emergency 2.5% COLA would boost a monthly ,500 benefit by an extra .50 (0 per year) in 2021, but it would grow to an extra .30 per month by the end of ten years. Another way to think about this, if retirees do not receive a 2.5% COLA, that would be like loosing ,000 in Social Security income over the next ten years. .But financial problems are more likely to compound for Notch Babies and their families because Notch Babies received Social Security benefits lower than those of other retirees having similar work and earnings histories, and they are at the age when many have exhausted their retirement savings and other resources. According to U.S. Census data, 9 percent of men and 14 percent of senior women over 85 have incomes lower than the U.S. poverty level — ,170 for single seniors in 201A core set of benefits is available to low-income seniors including: .TSCL Supports Bills to Prevent Premium Hike .In addition, one new cosponsor signed on to the Beneficiary Enrollment Notification and Eligibility Simplification (BENES) Act (H.R. 2575), bringing the total up to eighteen. The new cosponsor is Representative Seth Moulton (MA-6). If signed into law, the BENES Act would simplify the Medicare enrollment process and better inform those approaching Medicare eligibility about their future benefits and the application process. .TSCL believes several of the proposals under consideration would make the program unaffordable over time for the majority of beneficiaries. According to a new TSCL survey, more than one quarter of Medicare beneficiaries spend as much as 50% of their Social Security payments just to cover healthcare costs. TSCL recently delivered a listing of hundreds of thousands of petition signers from supporters to almost every Member of Congress and is continuing to convey concerns about plans to cut Social Security and Medicare. .I've been hearing a lot recently that Social Security is a Ponzi scheme. Just how much in Social Security benefits can I expect? I just turned 62, but I'm still working and haven't started benefits yet.