News

  • October 2012 Millionaire Corner

    The FTC Advisory Group would bring together relevant government agencies, consumer advocates, and industry representatives to collect and develop model educational materials for retailers, financial institutions, and wire transfer companies to use in preventing scams on seniors. The FTC would coordinate efforts to educate the public and even the employees of key industries who often find themselves on the front lines of anti-scamming activities. .Long-term solvency of the Social Security program is essential. In 2010, due largely to the economic downturn and a stagnant recovery, the Social Security Trustees estimated that the trust funds ran a cash deficit of billion and had to begin redeeming the U.S. government bonds held in the trust funds. Although the Social Security Trustees predict the trust funds will remain solvent, and that benefits can be paid in full until 2037, that assumes an unprecedented level of transfers from the general revenues. Leading economists, in the U.S. and worldwide, have said that the level of debt this would require risks undermining the stability of our economy. .It would have to report to Congress every two years on regulatory and financial developments that affect older investors. Reports would have to include recommendations for possible regulatory or legislative action. … Continued

  • Congressional Corner Totalization Amnesty And Illegal Immigrations Drain On The Social Security

    Depending on the size of COLAs and the amount of the Medicare Part B premium increase in following years, it may well take Sally another year, possibly even longer, to see any increase in her net benefit. Meanwhile Sally's other household costs have made big jumps. ."The group of Democrats blocked one committee from advancing their party's drug-pricing legislation, with two members arguing it was too far-reaching and could stymie innovation in the pharmaceutical industry. Some of those Democrats also want to rein in a proposal to expand Medicare to include dental coverage, a high priority for progressives such as Sen. Bernie Sanders (I-Vt.)." .MedPAC Delivers Report, Testimony to Congress … Continued

Medicare Doesn't Recover The Majority Of Overpayment Payment Amounts, .A new audit performed this year by the SSA's Office of Inspector General found that the same problem persists. The Inspector General identified 26,033 spouses – who were eligible for about 5.3 million in higher retirement benefits (about ,502 a piece on average). .Many of our nation's seniors live on fixed incomes and struggle to afford everyday expenses. Sadly, a large number of these individuals are also disabled. There are several existing programs that support the most vulnerable among us, but the number of agencies, applications, reporting requirements and additional obstacles they must tackle to access these funds make it unnecessarily difficult for them to receive the benefits they desperately need and deserve. .Even Republicans who support changing the regulations are opposed to putting it in the NDAA and they may support an effort to pass it and try to override the President's veto, which would be the first of his presidency. .Defeating Alzheimer's requires uniting Americans nationwide in conjunction with local government, healthcare experts, and outside organizations like the Alzheimer's Association. We are all in this fight together, and ending this disease will take time and a common focus on the task at hand. That's why we must continue to raise awareness of Alzheimer's and the promising efforts taking place to curb its growth, as well as increase support for patients and their caregivers. While the challenge of battling Alzheimer's is immense, the outpouring of support and dedicated activism for this crucial cause gives me hope that we can one day effectively treat—and eventually cure—this devastating disease. ."If you look at the science across all diseases, you see few outbreaks" on planes, Allen said. "It's not the hotbed of infectivity that people think it is." .On its website the BLS explains that it calculates the COLA this way: .Give yourself a Benefits Check Up: If your savings are gone, and you aren't able to get a side job, you might qualify for programs that can help pay for Medicare Part B premiums, drug costs, meals, heating and cooling your home, rental subsidies and other costs. Using the National Council on Aging's Benefits Check Up online tool is simple. You answer a few screening questions and you can get the contact information for programs in your area. .Despite the big drop in costs related to petroleum prices, the overall costs typical of Social Security recipients continue to grow faster than benefits. Since 2000, the COLA has increased benefits just 43 percent while typical senior expenses have jumped 74 percent. Inflation has been at historic lows in recent years and seniors received a COLA of just 1.7 percent this year.