News
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New Alzheimers Drug Sparks Controversy
Part B — Seniors with incomes of less than ,000 a year pay a base monthly premium of 5.40, in 2011, which would be automatically deducted from your Social Security benefit. Since 2000, Part B premiums have increased about 154%. .This week, after receiving countless complains from seniors without cell phone access, the Social Security Administration removed the text requirement from the online account login process. In addition, lawmakers continued their seven-week congressional recess. .But a COVID-19 vaccine will have an actual price tag. And given the prevailing business-centric model of American drug pricing, it could well be budget breaking, perhaps making it unavailable to many. … Continued
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I Turn 65 This Year How Much Will I Need For Medicare Feed
Your drug plan will provide you with forms and a package of information about how your mail order program works. You will need to ask your doctor for a 90-day prescription. Since it can take up to two weeks for delivery, make sure you either have a 30-day supply of your prescription on hand when you place your first order, or ask your doctor for a temporary 30-day prescription in addition to the 90-day, so that you can fill it at your retail pharmacy if you need to start the medication right away. .On Tuesday evening, President Obama gave his fifth State of the Union Address before both chambers of Congress. To The Senior Citizens League's (TSCL's) surprise, the sixty-five minute speech included no mention of Social Security or Medicare, but the President did speak briefly about immigration reform and a new retirement savings plan called "myRA." .In the months ahead, The Senior Citizens League will continue to work for enactment of legislation that would strengthen Medicare and lower costs for current and future beneficiaries. For progress updates, follow The Senior Citizens League on Twitter. … Continued
"For those who don't like these executive actions, there's time to get to the table and back a legislative solution," Grassley said in a statement. "I will continue the fight in Congress until significant prescription drug pricing legislation becomes law. The next coronavirus relief bill presents the perfect opportunity for Congress to meet the moment." ."If you want to save money on health and prescription drug plans, it's more important than ever to compare and switch now during the fall Medicare Open Enrollment period which ends December 7th," Cates says. Free, unbiased, one – on – one counseling is available through State Health Insurance Assistance Programs (SHIP), many of which operate through local agencies on aging. .Cutting the annual cost-of-living adjustment (COLA) by switching to a more slowly rising measure of inflation – the "chained" Consumer Price Index (CPI) – is currently one of the most popular deficit reduction proposals on the table. Backed by lawmakers on both sides of the aisle – including President Obama – proponents are calling it a small "technical correction." But "chaining" the COLA would compound over the course of a retirement and, after ten years, it would amount to an per month benefit cut for the average retired married couple – an amount that most seniors simply cannot afford to lose. .TSCL strongly supports quick passage of the urgently needed legislation to stop the cuts. .Now, allergy season has arrived and in the United States as many as 30 percent of adults and 40 percent of kids have seasonal allergies. .The U.S. has already hit the most recent debt limit on March 2nd, just one month after the government shutdown ended. The U.S. Treasury is currently using "extraordinary measures" to temporarily keep the federal government funded, but the Congressional Budget Office estimates that the Treasury will run out of cash near the end of the fiscal year (September 30, 2019) unless Congress takes action. .While the policy will mean that Medicare would spend less, patients will spend more— often, a lot more, and the charges would broadside most beneficiaries, coming as a complete surprise. TSCL is strongly opposed to this type of backdoor benefit cut, and has written a letter to President Biden urging him to rescind this CMS rule. Please sign our petition! .The changes closed two claiming tactics known as "file and suspend" and "restricted application for spousal benefits." The claiming strategies have made it possible for both members of a couple who are 66 or older to delay claiming Social Security based on their own earnings records, in order to increase payments, while at the same time one spouse receives a spousal benefit. Alicia Munnell of The Center for Retirement Research at Boston College estimates the changes would save .5 billion per year — a potential cost that would grow over time. .But while the temporary payroll tax cut won't affect Social Security's finances, it also won't change the need to put the Social Security system's finances on a sound footing for future generations. Over the last 30 years, proposals have been made to allow future workers to put some of their Social Security contributions into "personal" or "privatized" investment accounts – with the hope of getting more money back than they would get from Social Security as we know it today.
