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  • 2015 Social Security Benefits Lose 22 Of Buying Power Since 2000

    The Senior Citizens League is encouraging Congress to take the opportunity now to strengthen Social Security by beefing up the amount of earnings subject to payroll taxes, a tax provision that has widespread public support. The Senior Citizens League is delivering a letter to Congress this week calling for three tax reforms that would strengthen Social Security and provide relief to millions of older Americans. Those reforms include: .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. .New legislation, called the "National Senior Investor Initiative Act" or "Senior Security Act" (H.R. 1565), was introduced earlier this month with two Democrats and two Republicans as cosponsors. … Continued

  • 56 Percent Social Security Recipients Paid Tax Benefits New Survey Senior Citizens League

    For instance, sedatives such a fentanyl and propofol, which are administered to people placed on ventilators to help them breathe, are made with core ingredients from China. Medicines to treat shock, such as epinephrine and dopamine, are also made with chemical components from China. Antibiotics to treat sepsis, a life-threatening bloodstream infection, are made with raw materials supplied by China. .Reduce the size of the initial retirement benefit that new Social Security beneficiaries are scheduled to receive; ."In the event that you have the choice to get vaccinated, I'd encourage you to take the vaccine that you're given," John Brooks, the chief medical officer of the Centers for Disease Control and Prevention's Covid-19 response, said at a briefing Friday." … Continued

Can I expect a cost of living increase this next year? Something needs to happen! .The further we read into the Affordable Care Act, the more we learn it doesn't address the issues of rising costs and access to quality care. A majority of my patients were either Medicare beneficiaries or Medicaid recipients. I understand the importance of these issues and want you to know that I am working hard to ensure everyone, especially seniors, has access to quality care and to keep the Federal Government out of the way when it comes to making the important decisions that affect your health and well being. .In a letter of support to Rep. Kevin Brady (TX-8) – the sponsor of H.R. 711 – TSCL's Chairman Ed Cates wrote: "According to a recent study completed by TSCL, Social Security beneficiaries have lost over 20 percent of their purchasing power since 2000. Those who are subject to the WEP have undoubtedly fallen even further behind. It is now more important than ever for Congress to address the inequities that have been created by the WEP, and TSCL believes the Equal Treatment of Public Servants Act is a fair and responsible solution." ."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. .In addition, should your husband improve and regain the ability to work, he would be allowed to earn ,580/month in 2021 before his benefits would be temporarily reduced due to Social Security's earnings restriction rules. Under disability rules, your husband could not earn more than ,310/month without losing eligibility for disability benefits altogether. Should your husband continue to improve, he could earn more by the year he attains full retirement age. .The Social Security Subcommittee of the House Committee on Ways and Means held a hearing to discuss the problems facing seniors and the vital roll Social Security plays in the well-being of America's seniors. .Why raise the maximum? In 1993 the taxable maximum was eliminated for Medicare payroll taxes. Yet currently, workers who earn more than 3,700 pay no Social Security taxes at all on earnings over that amount. "That includes every Member of Congress and President Obama," notes TSCL Chairman Larry Hyland. The "tax max" increases annually by the growth in national average wages .Medicaid is the largest payer of long-term support services such as home care for the elderly, but states are not required to participate in the home and community-based program. .All costs cited include premiums and prescription out-of-pocket.