News

  • 2021 Senior Survey

    When the pandemic hit early last year, seniors became more susceptible than ever to scams, because of the increased digitization of our daily lives. Newly-available resources are now being used as bait, and already existing scam techniques have unfortunately adapted to fit the pandemic narrative. .The House recently passed legislation the FAIR Act (H.R. 1423, S.610) that would prohibit mandatory arbitration agreements in employment, consumer, and other contracts. Legal advocates who work on behalf of older adults estimate that as many as 90% of large nursing homes in the U.S. use arbitration agreements in their admission contracts. The federal government has been considering plans to expand the use of mandatory arbitration clauses to be included in contracts for every long - term care facility that accepts federal money as a condition of admission. Nursing homes receive funding from both Medicaid and Medicare for all residents. .The other big variable in health care is insuring against the risk of a big tab for long-term care. This is an area where we just don't have very good options right now. The market for private long-term care insurance doesn't function very well -- the cost of coverage has been soaring, and the number of insurance companies in the market has been shrinking. Medicaid is the country's biggest payer for nursing home bills, but you need to spend down to poverty levels to qualify and most often your care choices are limited. The other options are "self-insuring" paying out of pocket if you're very affluent, or if like many older senior Americans, you rely on family members for help. … Continued

  • Update Social Security Cola For Next Year Could Be 6 2

    Sources: Statement: Social Security Payments Go Paperless, Honorable Patrick P. O'Carroll, Jr., Inspector General, Social Security Administration, June 19, 2013. .COLAs Reach All Time Lows At Same Time Seniors Report Expenses Higher Than Ever .However, price negotiations could be included later this year in a reconciliation bill, a fast-track budgetary move that only needs 51 votes to pass the Senate and cannot be blocked using a filibuster. … Continued

A 2.8 percent COLA would be the largest since 2012, but according to The Senior Citizens League's Social Security Policy Analyst Mary Johnson, "Retirees may be disappointed when they learn what the cost of their Medicare premiums and prescription drugs will be for 2019." .To learn more about President Obama's Executive Action On Immigration, see TSCL's F.A.Q.: "What Does "Executive Action" On Immigration Have To Do With Social Security and Medicare?" .The revenues that would be collected based on the 12.4% Social Security tax (the total paid by employee with the employer match) was ,071,619, and averaged 3,581 per CEO. .Sources: "The Supplemental Poverty Measure: 2016," U.S. Census Bureau, September 201"How Many Seniors Are Living in Poverty? National and State Estimates Under the Official and Supplement Poverty Measures in 2016," Kaiser Family Foundation, March 2, 2018. .Before doing anything else make sure you have a realistic budget, and think long term. You want your income and savings to be adequate as long as possible, 30 years or even longer is not unrealistic for someone your age. In developing a budget, look back over at least three years to include large expenditures for periodic home maintenance and repairs, transportation, medical costs and other large costs. Include what you pay in taxes. Once you get an expense figure, allow for at least 3% per year for inflation. Then tally up your income and assets, including the value and expected income from retirement accounts and pensions, if any. .To learn more about your Enrollment Periods check your 2016 Medicare & You handbook, call 1-800—MEDICARE ( 7) or visit www.Medicare.gov. You can get free unbiased one-on-one counseling to help you sign up for Medicare and select the best way to receive coverage through your State Health Insurance Assistance Program (SHIP). Many of the programs operate through local senior centers or area agencies on aging. .In what was a major organization-wide effort, the TSCL staff dispersed across House of Representatives offices to hand-deliver the message of our supporters. The hundreds of thousands of petitions that poured into the TSCL office from nearly every Congressional district were organized into a long list of vocal and concerned citizens. The effect created a bold statement and embodied the true spirit of TSCL's politically-engaged supporters. .Two new pieces of legislation in addition to H.R.1565 (see above) have been introduced to stop these kinds of scams. .TSCL looks forward to working with these veteran lawmakers, along with new Representatives and Senators, on the following issues in the 114th Congress: