S 500 Keeping Our Social Security Promises Act
The legislative proposal also does not specify whether the locality pay adjustment would be applied in addition to the COLA or used instead of a COLA. If the intention is to add a second adjustment in addition to the COLA my guess is that many retirees would welcome the additional boost. Should the proposal be intended to replace the COLA that brings a higher level of uncertainty to the annual adjustments than we already experience. For people who live in areas where private sector pay is on an even level with federal pay or lower, those retirees may wind up with little or no locality pay adjustment, perhaps over the course of many years. .The four orders would: .Failure to balance between price and services. Assisted living and continuing care communities can be very expensive and more people are living longer in these facilities. It's important to make finances last while maintaining access to the best care. When exploring options, don't be afraid to look into facilities in areas that have lower costs of living, even if you won't be able to visit with your family every single day. What you give up in fancy features, you may trade off with more affordable rents, and service fees, more personal attention, while still getting high standards of care. … Continued
Category Tips For Seniors Savings Page 2
Please join us in our drive to gather 100,000 signatures on a petition to the White House by clicking Here to sign our petition or by pasting this into your address bar: https://petitions.whitehouse.gov/petition/stop-calling-payroll-tax-cuts-and-preserve-social-security-and-medicare .We at TSCL are not doctors or scientists. But with all the different voices being heard about what the right thing is to do or not to do, what we do urge you to be is very cautious. It makes sense to us to listen to the trained professionals in medical and scientific fields as we deal with our current health care situation. .How Should Congress Strengthen Social Security and Medicare? … Continued
I retired seven years ago at age 65 when I started Social Security and Medicare. I have difficulty budgeting my healthcare costs. I never seem to learn what they will be until I start getting the bills. Can you help? .Because there was no waiver in the Covid relief bill, new legislation to waive the mandatory cuts is needed. Congress passed a similar waiver for Republicans' 2017 tax overhaul, which was passed in the same manner as the Covid-19 relief bill. ."Higher gasoline and transportation prices in particular are behind the high COLA estimate for 2022, because those expenditures are given greater weight or importance in the consumer price index (CPI) that's used to calculate the COLA. That works to the advantage of retired and disabled beneficiaries for the COLA payable in January of 202That has not been the case for many of the past 12 years when cheap gasoline, and other falling prices dragged down the COLA. Since 2010, COLAs have averaged just 1.4%. Inflation was so low that no COLA was payable at all in 2010, 2011, and 201In 2017 the COLA was almost zero, just 0.3 percentage point. .The CBO recently estimated that the two options with the biggest potential for reducing government spending on Medicare in the next ten years include raising the Medicare eligibility age to 67, and increasing the portion of the basic Part B premium that seniors pay from 25% of the cost to 35%. The latter proposal would increase this year's basic monthly Part B premium — currently 4.90 — by about per month. .Medicare Pays More for Drugs than Medicaid .Please, share this video with your friends (use the "Share" button above or copy the URL into an email). .Recently we received the following from one of our readers: .TSCL is happy to hear that. However, we also know that the big drug companies are spending millions of dollars lobbying heavily against legislation in Congress that would lower drug prices. So, we remain skeptical of his intentions until we actually see a proposal or proposals to do what he claims the drug companies want to do. .(Washington, DC) – Half of retirees participating in a new survey by The Senior Citizens League (TSCL) say they paid income taxes on a portion of their Social Security benefit income for the 2019 tax year. "There was no change from previous years in the 50 percent of retiree households who report that they pay tax on a portion of their benefits, despite the 2017 tax reform law, says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League.