News

  • Ask The Advisor Part D Fails Enrollees Who Take Expensive Drugs

    If the Social Security cost-of-living adjustment (COLA) were based on a more accurate measure of inflation for seniors, beneficiaries would not be receiving a record-low 0.3% increase this year. They would be receiving an increase of 2.1% according to the Bureau of Labor Statistics. Do you support legislation that would base the COLA on a more accurate inflation index like the Consumer Price Index for the Elderly? .We know that other prevention steps help stop the spread of COVID-19, and that these steps are still important, even as vaccines are being distributed. .Our nation is in a hyper-partisan period as the November elections approach. In this environment it becomes tricky when reporting about issues that affect you and other TSCL supporters because the issues are so often intertwined with politics. … Continued

  • How Has The Recession Affected Funding For Your Social Security And Medicare Benefits

    Rather than get into all the details of how this works, we will simplify it this way. The Democrats now have the majority in the Senate because Vice President Harris can break tie votes, giving a majority vote of 51 to the Democrats. .CMS Announces Preliminary MA Payment Changes .However, experts say the actual cost of living for Social Security beneficiaries is rising and their quality of life is falling. Social Security recipients have lost nearly a fourth of their buying power over the last 15 years, according to the Senior Citizens League. … Continued

This week, the CBO released its report on the long term budget outlook, which found that the federal debt is projected to increase from today's rate of 74 percent of GDP to 106 percent of GDP in twenty-five years if no major changes are made. The nonpartisan agency said the trend cannot be sustained indefinitely, and already, the total amount of debt held by the public is "higher than at any point in U.S. history except a brief period around World War II." .Eight new Members of Congress signed on to the Social Security Fairness Act (H.R. 1332) this week, bringing the cosponsor total up to 11If signed into law, the Social Security Fairness Act would repeal the government pension offset (GPO) and the windfall elimination provision (WEP) of the Social Security Act. .This week, The Senior Citizens League was pleased to see support grow for six key bills that would strengthen the Social Security and Medicare programs. .The COVID-19 recession of 2020 may potentially result in permanent benefit cuts for about 4 million people. Q & 038; March 2021 Can You Tell Me My Full Retirement Age? .It remains to be seen if Congress will go along with this plan. .Sources: Earnings Suspense File Data For 2008 and 2009, Social Security Administration, March 2, 201"The Growing Cost Of Illegal Immigration To Social Security," Mary Johnson, TSCL, June 2010. .Congress Averts Government Shutdown .Almost 4 million retired Notch Babies, spouses and their survivors would benefit from this modest old age boost that TSCL estimates would cost about .5 billion. .By Mike Watson, TSCL Legislative Assistant,