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Guidance For Traveling On Cruise Ships Changed
Forty-five percent (45%) say their retirement savings dropped significantly in value and that they have cut back on spending. Another 13 percent (13%) say their retirement savings have dropped, but they are unable to cut back any further. .In his ruling the California judge admonished the federal government for skipping a key step in the rulemaking process and called the government's reasons for doing so "contrived." .To make the Social Security COLA more adequate, The Senior Citizens League believes Congress must adopt the CPI-E Act (H.R. 1251). This bipartisan bill would base Social Security COLAs on the spending patterns of older Americans – not the spending patterns of young, working Americans – using the Consumer Price Index for the Elderly (CPI-E). … Continued
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Ask The Advisor 2
"For the third year in a row, millions of older Americans will once again see no increase in their net operating Social Security payments, particularly if Medicare Part B premiums remain 4 per month in 2018, as currently forecast by the Medicare Trustees," says TSCL's Social Security and Medicare Policy Analyst, Mary Johnson. "The problem is that a substantial portion of beneficiaries currently are paying a Part B premium that is about less than that now," Johnson says. .On Tuesday, TSCL's Legislative Analyst, Jessie Gibbons, attended the Joint Select Committee on Deficit Reduction's first public hearing. The Committee heard testimony from Doug Elmendorf, Director of the Congressional Budget Office (CBO). .Alexandria, VA (June 14, 2011) Cost-of-living-adjustments (COLAs) are "overpaying" Social Security recipients, and the government needs to switch to an "improved" method of measuring inflation that will give them a "small trim". That's what deficit negotiators from both sides of the aisle are saying in making the case for the government to switch to a more slowly-growing Consumer Price Index (CPI) for calculating the annual Social Security boost. … Continued
For more information about the Social Security Administration Fairness Act, visit the Bill Tracking section of our website. For updates on the administration's progress, follow The Senior Citizens League on Twitter. .This week, one new cosponsor – Rep. Rich Nugent (FL-11) – signed on to the No Social Security for Illegal Immigrants Act (H.R. 1716). The cosponsor total is now up to thirty-two. .The report's findings are significant because the DI program is currently in serious financial trouble. If Congress does nothing to address its funding issues, the trust fund will become insolvent next year, at the end of 201At that point, enrollees will face an across-the-board 20 percent cut in benefits. .My brother-in-law has a low income and is getting home healthcare services. Recently I stopped in and saw a fancy new TV. When asked where it came from, my brother-in-law said it was a rebate from the home healthcare agency. Does Medicare or Medicaid allow this? We live in South Florida. .If the COLA were calculated using the methodology used in 1990, this year's COLA would not be 1.7 percent – it would be 5.2 percent. And if the COLA were calculated using the 1980 methodology, this year's COLA would be 9.4 percent. As a result of the CPI's manipulation over the past three decades, Social Security beneficiaries have lost over 20 percent of their purchasing power, according to our research. Next year's projected zero COLA will put them even further behind. .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. ."That estimate tracks closely with the CPI data through August," Johnson says. "Overall inflation readings are very low, but that's almost entirely due to the dramatic drop in oil prices again this year," she notes. Meanwhile, the data show some big jumps in the cost of goods and services that older and disabled Americans use the most. But that won't necessarily translate into higher COLAs, because the index used to calculate the annual Social Security boost is based on the spending patterns of younger working adults. Younger people tend to spend less on health care and housing, and more on gasoline and electronics, two categories that have gone down in recent years. .This week, one new cosponsor – Rep. Dennis Ross (FL-15) – signed on to the No Social Security for Illegal Immigrants Act (H.R. 2745), bringing the total up to thirty-two. If signed into law, the bill would prevent Social Security credits from being earned by work done illegally. Currently, those who receive work authorization may file a claim for Social Security benefits based on all earnings – even earnings from jobs where they used stolen, invalid, or fraudulent Social Security numbers. To protect the integrity of the Social Security program, TSCL believes this practice must be put to an end. .In addition, the Congressional Budget Office (CBO), a federal agency within the legislative branch, does its own forecast of the programs. The CBO produces independent analyses of budgetary and economic issues to support the Congressional budget process. Each year, the agency's economists and budget analysts produce dozens of reports and hundreds of cost estimates for proposed legislation.