June 2013 Silobreaker
If the COLA were calculated using the methodology used in 1990, this year's COLA would not be 1.7 percent – it would be 5.2 percent. And if the COLA were calculated using the 1980 methodology, this year's COLA would be 9.4 percent. As a result of the CPI's manipulation over the past three decades, Social Security beneficiaries have lost over 20 percent of their purchasing power, according to our research. Next year's projected zero COLA will put them even further behind. .The following four bills were the focus of Legislative Liaison Kluck's meetings on Capitol Hill in December… .For more information about town hall meetings near you in the days ahead, call the local offices of your Members of Congress. For contact information, click HERE. … Continued
Social Security Cost Of Living Adjustment
Proponents say that the change is needed because the CPI is inaccurate and doesn't reflect the effect on inflation when consumers substitute different types of lower-costing goods and services as prices increase. They argue that the government overpays Social Security beneficiaries because the current index is inaccurate and overstates inflation. .As a representative of thousands of senior citizens in Western Pennsylvania, and as a senior myself, I strongly believe that all Americans should be able to enjoy their golden years without financial or medical hardship. Retirement should be a time of great reward and good health, not unnecessary anxiety. As a member of the House Ways and Means Subcommittee on Social Security, it has been a priority of mine to work on policies that protect Social Security and ensure its long-term viability for all Americans who have paid into the system. Over the past several years, I have proudly worked with fellow legislators on both sides of the aisle to craft specific policy solutions that will benefit seniors everywhere. .Of the more than 1,200 people who participated, 766 sent in comments. Most described their personal challenges in meeting their healthcare expenses. In what may be a sign of the times, a surprising number indicated they are working far longer than they ever thought they would, even into their late 70's and 80's, because they don't have enough to live on after paying their healthcare costs. Even seniors who do have good Medicare supplemental and drug coverage described how they keep costs in check by asking their doctor to prescribe generics, filling prescriptions for 90 days, splitting pills, and sticking to preferred pharmacies. … Continued
These fraudulent products that claim to cure, treat, or prevent COVID-19 haven't been evaluated by the FDA for safety and effectiveness and might be dangerous to you and your family. .Although President Trump promised during his campaign not to touch Social Security, "it's unclear how he would view slowing the growth in Social Security benefits by this type of technical change," Johnson observes. "Make no mistake, no matter what sort of ‘improvement' lawmakers may try to call it, getting less money from Social Security is a cut," she states. .The good news is that reducing drug costs appears to have bipartisan support. Two critical congressional committees – the Senate Finance Committee and the House Oversight and Reform Committee – have launched investigations into the pricing practices of the pharmaceutical industry. .This is the website of The Senior Citizens League ("TSCL"). .Last week we learned that the top attorney in the Department of Health and Human Services (HHS), warned department officials that the program is potentially illegal because it could be in violation of federal election laws. .(Washington, DC) – The tax bill being discussed in the U.S. House contains what may be only a fleeting benefit for middle class and older Americans, warns The Senior Citizens League. "The changes under consideration may provide some modestly lower federal income taxes at first, but the benefits for many people would be short - lived," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. "Older middle - income Americans could shoulder a disproportionate share of taxes under these changes, and get pushed more quickly into higher tax brackets than they are today," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. .Susan's mother started taking the prescription drug Eliquis last year, that will cost her mother about ,244 out-of-pocket in 2019 for that drug alone (she takes five other generics). Last year, the cost of Eliquis pushed her mom into the Part D doughnut hole where out-of-pocket costs were higher. Rising costs of the drug in 2019 will mean her mom will hit the doughnut hole a month sooner this year. .If signed into law, H.R. 1716 would prohibit unauthorized workers from receiving Social Security benefits based on work done while in the country illegally, using stolen, fake, or fraudulent Social Security numbers. TSCL was pleased to see support grow for H.R. 1716 this week, and we will continue to advocate for it on Capitol Hill in the coming months, since we feel strongly that protecting the integrity of the Social Security program is of utmost importance. .As we have previously written, there is a bill that has passed out of the Senate Finance Committee called the Grassley-Wyden bill but Senator McConnell also refuses to bring that bill to the floor for consideration. The Grassley-Wyden bill is co-sponsored by Senate Finance Committee Chairman Chuck Grassley (R-IA) and the top Democrat on the Finance Committee, Ron Wyden (D-OR).