News

  • Social Security Cola For 2020

    Alexandria, VMore than 62.5 million seniors, as well as recipients of other federal benefits, may be at high risk of not receiving any cost-of-living adjustment (COLA) next year, according to a new forecast from The Senior Citizens League (TSCL), a nonpartisan seniors organization. Based on the government's most recent inflation data over the past 12 months, growth in the consumer price index is so low that, should the trend continue through the third quarter of the year, inflation would be about 2% lower than the same period last year. "That would mean no COLA would be payable in 2015," says TSCL Chairman, Ed Cates. "Although a lot can happen between now and then," Cates notes, "TSCL anticipates that the buying power of benefits will be impacted." .President Trump signed an executive order Thursday directing the federal government to buy certain drugs solely from American factories. .This week, lawmakers remained in their home states and districts for a week-long spring break. They are expected to return to Capitol Hill on Monday, March 2In the meantime, many Members of Congress will be hosting town hall meetings, which The Senior Citizens League (TSCL) encourages its supporters to attend. … Continued

  • Ask The Advisor October 2019

    President Trump also said this last weekend that over the next 2 weeks he will pursue an executive order requiring health insurers to cover pre-existing conditions. "We will be pursuing a major executive order" on pre-existing conditions, Trump said during a news conference in N.J. .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. .Now that March has arrived, winter is starting to appear in the rearview mirror, large sections of the country will experience unseasonably warm temperatures this week, Covid-19 vaccinations are picking up, and we are all getting tired of living the way we have for the past year. … Continued

We have been reporting recently that unless Congress passes new legislation soon there will be significant cuts in Medicare payments to health care providers, such as doctors and hospitals. If that happens it is quite possible those patients covered by Medicare would likely face negative consequences with regard to their health care. .Unless you are in poor health and need money to put food on the table or keep a roof over your head, these days it makes sense to delay starting benefits as long as you can. That's especially true if you're single and have limited retirement savings. If you claim Social Security too early, you could set yourself up for a reduced standard of living for the rest of your life. .But changes to illegal immigration enforcement can have long-term financial implications for federal benefit programs, including Social Security and Medicare. With work-authorization and valid Social Security numbers, even noncitizens can potentially become entitled to Social Security benefits with enough years of earnings or a change of legal status. At issue is whether work prior to obtaining legal status and valid Social Security numbers would count toward entitlement to Social Security and Medicare benefits — under current law it does. .The Senior Citizens League is pleased that key Social Security bills like the four mentioned above will be re-introduced early in the 116th Congress, and we look forward to building momentum for them on Capitol Hill in the months ahead. For progress updates or for more information on these important bills, visit our website at . .What If Food Costs Grew As Fast As Medicare Part B Premiums? .Sources: "Immigration Activists Urge Obama To Act Boldly", Carolyn Kaster, Associated Press, April 15, 201Letter to Senator Marco Rubio from Stephen C. Goss, Chief Actuary, Social Security Administration, June 28, 2013. .Housing Survey, a survey of landlords and tenants used to provide rent data for CPI's shelter indexes. .According to the Congressional Research Service (CRS), for a person who retired at age 65 with average wages, a maximum benefit disparity of 10% would have arisen between the highest benefit under the old rules and the lowest benefit under the new rules if the 1977 assumptions had materialized. Under the economic conditions that actually arose, the disparity was 25% (6). .My Mom Is Applying For Assisted Living: Why Must She Agree To Mandatory Arbitration?