News

  • Older Voters Rank Members U S House Medicare

    (Washington, DC) – Sixty - five percent of retirees participating in a new survey by The Senior Citizens League (TSCL) report that their monthly household expenses in 2020 rose by more than . That includes 40 percent of survey participants who reported that their monthly household expenses are up by 0 or more. Yet the same survey also found that 63 percent of participants indicated that their 2021 COLA, which was 1.3 percent, raised their net monthly Social Security benefit by less than after the deduction for the Part B premium. .In shopping for housing you will find that many senior living communities have medical criteria for acceptance. Since your sister has no children, she may need a facility that provides a continuum of care. As her health declines, she would move from independent living to assisted living, and finally nursing or memory care as her health declines. If her income is limited, all the more reason to start looking for affordable facilities ahead of time. It's not uncommon to encounter waiting lists at the most desirable facilities. .Investors already smell big money for a COVID-19 vaccine. … Continued

  • H R 1179 Improving Access To Medicare Coverage Act

    However, it is possible that some doctors and hospitals may opt not to accept Medicare due to lower cost reimbursements or providers may also try to pass extra costs to consumers. .Big Effort to Lower Drug Prices Once Again in Congress .Growing numbers of seniors are working longer, and delaying the start of benefits. According to a TSCL survey conducted early this year, 42 percent of seniors who are still working say they plan to delay the start of benefits until age 66 or thereafter. Those who continue to work, continue to pay Social Security, Medicare and other taxes as well. … Continued

The announcement comes as the Super-Committee members consider how much savings should come from tax cuts versus spending cuts. If the committee cannot come to an agreement by the November 23rd deadline, across-the-board budget cuts will occur. ."Official" Poverty Measure Undercounts The Number Of Older Americans Living In Poverty .TSCL enthusiastically supports H.R. 2745, H.R. 3118, and H.R. 1795, and we were pleased to see support grow for each of them this week. .The average retired worker receives just ,500 year in Social Security benefits. .Social Security Cost-of-Living Adjustment – Ensure a fair, accurate, and guaranteed COLA. .Some 48 percent of participants in The Senior Citizens League latest survey, reported that they expect to pay income taxes on a portion of their Social Security benefits for the 2020 tax year. That's down from 53 percent who reported paying income taxes on their Social Security benefits for the 2019 tax year. But that wasn't the only change. Far fewer retirees also indicated that they would not pay tax on their Social Security benefits — 32 percent for 2020 tax year versus 41 percent for the 2019 tax year. .Three Key Senate Bills Gain Support .The new benefit formula under the 1977 law changes used "wage indexing" to calculate the initial retirement benefit. The economic assumptions used by Congress and the Social Security Administration assumed that wages would grow more quickly than price inflation. Generally, this is the way the economy tends to perform under normal circumstances. In reality, however, the reverse happened. .President Gives First State of the Union