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  • Deflation Signals Zero Cola For 2021 Benefits Lose 30 Of Buying Power

    At Wednesday's hearing, key witnesses made several recommendations for improving the process. Sita Nataraj Slavov – Professor of Public Policy at George Mason University – suggested that SSA stop using the term "retirement age" since it suggests that individuals should claim benefits immediately after they stop working. She also recommended that SSA begin referring to age 70 as the "full" retirement age since it is the age at which benefits are the highest. In addition, William Meyer of Social Security Solutions, Inc. suggested that SSA notify individuals of the annual difference in benefits they would receive if they delayed filing for one year. .(Washington, DC) – Although there won't be any Social Security cost – of - living adjustment (COLA) next year, many of the nation's biggest drug and health plans are sharply increasing costs, warns The Senior Citizens League (TSCL). "Outrage is growing among older voters who question how COLAs can be zero, when their healthcare costs are taking the biggest jump in seven years," says TSCL Chairman, Ed Cates. .Where this leaves the President's policy at this point is not clear, but it is highly unlikely the program will be able to move forward while Trump is still in office. Whether President Biden will withdraw the plan or seek to modify it through negotiations with Canada remains to be seen. … Continued

  • Best Ways Save Octobernovember 2014

    Last week President Biden's administration unveiled its plan to lower prescription drug prices that includes a number of aggressive proposals but that are basically the same proposals that Democrats have pushed for years, many of which Democrats in Congress are currently working on to include in upcoming legislation. The plan would allow Medicare to negotiate drug prices with manufacturers, a longstanding pledge from Biden, Democratic lawmakers, and every Democratic presidential candidate in 2020. It also would limit yearly price increases, allow the importation of drugs from Canada, and place a cap on out-of-pocket spending for Medicare beneficiaries .Last Friday, lawmakers in the House and Senate adjourned for a week-long recess. They are expected to return to Capitol Hill on Monday, May 9th. In the meantime, many Members of Congress will be attending local events and holding town hall meetings, presenting constituents with an excellent opportunity to have their most pressing questions answered. . You bring up an important gap in our Social Security protections. In order for children to qualify for a Social Security dependent benefit, that benefit would need to be based on an account of a parent who meets eligibility requirements for Social Security and is deceased, disabled, or retired. The parent would need to meet the eligibility rules in order for your grandson to receive a benefit based on the parent's account. However, if the biological parent has not yet met all eligibility rules then, in order to receive a Social Security benefit, you would need to first adopt the child so that he qualifies for a benefit based on your account. … Continued

The FDA is particularly concerned that these deceptive and misleading products might cause Americans to delay or stop appropriate medical treatment, leading to serious and life-threatening harm. It's likely that the products do not do what they claim, and the ingredients in them could cause adverse effects and could interact with, and potentially interfere with, essential medications. . Contact your doctor's office and alert them to this dilemma. Ask if they have emergency samples of Lantus and your blood pressure medicine that they can provide, or if they can give you the contact number of programs that can help you. .The Social Security Fairness Act, if signed into law, would amend the Social Security Act by repealing the government pension offset (GPO) and the windfall elimination provision (WEP). These two provisions unfairly reduce the earned Social Security benefits of millions of teachers, firefighters, peace officers, and other state or local government employees each year. TSCL believes that Congress should repeal the GPO and the WEP so that dedicated public servants receive the retirement security they deserve. .As we all know, senior citizens are the most likely to be hospitalized or die from the Covid-19 virus -- by a wide margin. .A retirement coach might be helpful, but the fees can be pricey. A retirement coach differs from financial advisors by helping clients with nonfinancial social issues you need to consider in retirement. These include finding the right type of housing, figuring out Social Security and Medicare benefits, transitioning into second careers or volunteer work, and staying engaged with others in the community. A retirement coach will help you think through what you want and help you develop plans to attain those goals. A coach can also advise clients on managing aging parents or younger family members and provide help for maintaining a healthy state of mind. .Today's seniors have spent a lifetime paying into benefit programs like Social Security. They did so under the assumption that those programs' benefits will be there for them when they need them. All too frequently, though, illegal immigrants are reaping benefits without first paying their fair share into the program, and those who paid into Social Security fear that expected benefits will not be available when the time comes. .However, we believe Congress can and must do more to reduce prescription drug prices. In the months ahead, we will continue to advocate for legislation like the Medicare Prescription Drug Price Negotiation Act (S. 41, H.R. 242), the Affordable and Safe Prescription Drug Importation Act (S. 469, H.R. 1245), and the Improving Access to Affordable Prescription Drugs Act (S. 771, H.R. 1776). .One glitch that trapped working seniors during the 2010 tax season involved the 0 economic stimulus payment beneficiaries received if they were getting Social Security, Supplemental Security Income (SSI), railroad retirement or veterans' disability compensation. The 0 payment reduced the Making Work Pay Tax Credit that working seniors could claim to a maximum of 0 (individual) or 0 (joint). The IRS withholding tables that employers used in 2009 and 2010, however, did not adjust for those payments. Compounding the problems for seniors, the problematic IRS withholding tables also allowed reduced withholdings for pensions — even though pension income was not even eligible for the credit. .The Senior Citizens League enthusiastically supports the six bills listed above, and we were pleased to see support grow for them this week. For more information about these and other TSCL-backed bills, visit the Bill Tracking section of our website.