News

  • Ask The Advisor September 2020

    Despite increased efforts by SSA, Mr. Bagdoyan emphasized the need for better program evaluation. He said: "SSA has taken some steps to establish an organizational culture and structure conducive to fraud risk management in its disability programs … But it has yet to comprehensively assess these risks or develop a strategic approach to ensure its anti-fraud activities effectively mitigate these risks." .Social Security recipients who have contacted The Senior Citizens League overwhelmingly feel that a higher COLA would be long overdue. They say that the COLA doesn't come close to keeping up with their actual cost increases. When prices rise rapidly at the same time that retirees are receiving a very low COLA, as is the case in 2021, this shortfall can produce long-term impacts on retirement income, and even health, when retired households without adequate retirement savings run short of cash before the month is over. "In email after email, we are hearing that people are cutting their spending on prescriptions and groceries because that's the last things they have left to cut," says Johnson. The Senior Citizens League works to strengthen Social Security benefits and the COLA. .Of the more than 1,200 people who participated, 766 sent in comments. Most described their personal challenges in meeting their healthcare expenses. In what may be a sign of the times, a surprising number indicated they are working far longer than they ever thought they would, even into their late 70's and 80's, because they don't have enough to live on after paying their healthcare costs. Even seniors who do have good Medicare supplemental and drug coverage described how they keep costs in check by asking their doctor to prescribe generics, filling prescriptions for 90 days, splitting pills, and sticking to preferred pharmacies. … Continued

  • Social Security Medicare Questions January 2014

    TSCL is concerned that illegal immigrants who gain temporary work permits and Social Security numbers would become permanently eligible for Social Security and Medicare among other federal benefits. Here are several areas of concern: .Gather your medical expense records from the past year to three years, if you have them. Organization of these records not only helps you figure out your household budget, but keeping it all in one place helps you compile the amount to claim as medical expenses at tax time. Since expenses vary so much with your health, going back three years can help you get a better idea of average annual cost. .Sources: "Cost, Logistics Of Obama Immigration Plan Raise Concerns Before Launch," Doug McKelway, Fox News, February 13, 201Testimony of Eileen O'Connor, Esq., Before The Senate Committee On Homeland Security And Government Affairs, February 4, 201"How Changes In Immigration Policy Might Affect The Federal Budget," The Congressional Budget Office, January 2015. … Continued

Older Americans have lost more than 22% of their purchasing power since 2000, and this year Social Security beneficiaries received no COLA despite a national survey indicating a majority reported higher costs. Do you support legislation that would give seniors an emergency COLA before the end of this year? .First, on the payroll tax, he delayed payroll tax collections for those making under 4,000. President Trump instructed the U.S. Treasury to halt collection of payroll taxes from Sept. 1 through Dec. 31 for workers who earn under less than ,000 every two weeks (that's people earning under about 4,000 a year). The President has the authority to do this because it is not actually a tax cut, but rather a tax deferral, which will, as we said, have to be repaid by workers at a later date. .It was during this time that TREA Senior Citizens League (TSCL) was founded, and of its primary goals became the representation of those affected by the Notch in Congress. Recognizing that Congress created the Notch by reducing Social Security benefits in the past, and that baby-boomers nearing retirement would provide continuing pressure to reduce benefits in the near future, TSCL's primary mission is to protect "earned" Social Security and Medicare benefits. .Senate Subcommittee Considers Family Leave Proposal .According to the Congressional Budget Office's (CBO) recent baseline data for the Social Security Trust Funds, Social Security is expected to receive about 7 billion in payroll tax revenues in 202The CBO further estimates that the Trust Fund would receive billion in revenues in 2021 from the taxation of Social Security benefits. ."Another factor affecting retirement income is the amount of the initial Social Security benefit when one first retires. Social Security benefits are not growing as quickly as in in previous decades," Johnson says. This is particularly true for middle to lower earning workers due to the slow growth in real wages over decades. According to a report by the Congressional Research Service, between 1979 to 2018, real wages have grown for top earners, but have stagnated or fallen for middle to lower earners. "That is reflected in the (often disappointing) initial Social Security benefits of new retirees," Johnson says. .Women who earn less are particularly disadvantaged because females tend to live longer compared to men but have to live on less in benefits. The Social Security Administration website tells us that the typical woman receives ,218 each month while the typical man receives ,534 per month — meaning that, on average, men receive 25% more in Social Security benefits. This means that women have much less money to cover their expenses over a longer period. .There is already reason to worry that our deliverance from the coronavirus will cost us plenty. BARDA paid AstraZeneca up to .2 billion toward development, production, and delivery of its candidate vaccine, in order to secure 300 million doses in October. Britain paid the equivalent of million to secure 100 million doses in September — one-fifth of what the United States government agreed to pay per dose. .How will the information be used in my treatment?