News

  • More Harmful Chemicals Found In Some Hand Sanitizers

    Social Security recipients will receive the highest cost-of-living adjustment (COLA) in 5 years, effective January 1st. The Social Security Administration recently announced a COLA of 2%. While the boost is critically needed for almost 61.5 million beneficiaries to maintain their purchasing power, the 2% COLA extends a disturbing 8-year pattern of low COLAs that have been far below the 4% average established in the decade prior to 2010 and the Great Recession. .Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%. .Over one million Medicare recipients in my home state of Indiana would face reductions in choice and difficulty receiving care if provider incentives are cut. Instead of reducing access to healthcare, it is time to shift focus to the big picture of improving the economy through job creation so more people are able to contribute to their own healthcare. It is not time to chip away at benefits to the men and women who built this great country. Individuals who contributed to Medicare for decades rely on that investment for their well-being. … Continued

  • I Turn 65 This Year How Much Will I Need For Medicare Feed

    A monthly supply of diabetes drug Lantus Solostar, for example, ranges from a high of 2.00 from the mail - order pharmacy of First Health Part D Value Plus plan to a low of .75 from the network retail pharmacies for SilverScript Choice, a difference of 4.25 per month. .This week, TSCL endorsed one new bill sponsored by Congressman Eliot Engel (NY-16) – the Guaranteed 3 Percent COLA for Seniors Act (H.R. 3588). If signed into law, the bill would base Social Security cost-of-living adjustments on an inflation index specifically for seniors, and it would guarantee a minimum increase of 3 percent each year. .There is one trend that of particular concern for all consumers. "There's a relentless march upward in the cost of foods, especially sources of protein, (meats, poultry, seafood), dairy, as well as fruits and vegetables, Johnson says. Some categories of food prices especially for fresh fruits and vegetables have climbed in recent years due to widespread damage from severe weather and wild fires. "COVID-19 simply added another layer of disaster cost due to loss of restaurant and school lunch markets, labor shortages for growing, harvesting and food processing, and transportation disruptions," Johnson says. "This is the year to plant a vegetable garden," Johnson says. … Continued

Social Security Loss of Buying Power report including study methodology available for download. Loss of Buying Power Report. .Now, another warning has been issued that some sanitizers made in both the U.S. and China contain benzene, a chemical known to cause blood cancers such as leukemias. .The traditional formula does not take into account rising Medicare premiums, deductibles and expenses for prescription drugs that have had increasing effects on this segment in recent years. The revised formula accounted for 15.9 percent of seniors 65 or older living in poverty, which nearly doubled the percentage used in the traditional formula. In total, a record level of 49.1 million Americans are considered in poverty, according to the new estimates. .The White House confirmed that many of those affected would be eligible for Social Security, Medicare and a wide array of federal benefits. "TSCL is concerned that the President's executive action would not only provide authorization to legally work in this country, but access to Social Security and Medicare benefits that, under current policy, could be based in part on earnings under fraudulent Social Security numbers," says TSCL Chairman, Ed Cates. "With the Social Security Disability Insurance program facing insolvency by the end of 2016, and beneficiaries facing a 20 percent benefit cut, we are calling on Congress to end this policy that pays benefits based on document fraud," Cates adds. .For years, the age at which an individual could receive full, unreduced Social Security benefits was 6Since the passage of the 1983 amendments to the Social Security Act, the age has increased very gradually. The current full retirement age is 66 and it is slowly rising to 67 for people born after 195Benefits can be claimed as early as 62; however, doing so will result in a reduced benefit. For example, if someone was born in 1945 and claimed benefits at 62, their benefits were reduced by 25%. If someone who is born after 1959 collects benefits at 62, their benefits will be reduced by 30%. Some economists have proposed increasing the early retirement age, currently age 62, as well as the full retirement age. .Congress has adjourned for a month-long recess and, with the November elections looming, many lawmakers will be holding town hall meetings in their home states and districts. TSCL encourages you to attend these events, since they present excellent opportunities to make your voice heard and to learn more about the candidates. To best be prepared, jot down a few questions that you would like to ask your elected officials. Below are ten examples – feel free to take them with you and share them with others. .The Strategic National Stockpile will maintain the supplies while additional surge manufacturing is built up, a senior administration official said Thursday. The stockpile will include testing supplies that were not maintained in the past. .New TSCL Report: 4.8 Billion in Wages In SSA's Earnings Suspense File .It remains to be seen if Congress will go along with this plan.