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  • 2014 Whats Missing 2015 Social Security Check 113 Says Senior Citizens League Tscl

    In fact, generic medicines represent around 90 percent of all prescriptions dispensed in the U.S., and we depend on China for 80 percent of the core components to make our generic medicines. .Initial coverage stage: 4.61 from the lowest-cost drug plan but, as you have discovered, the total cost of the drug is so expensive that you rapidly use up the initial ,820 in the first three months once you factor in the portion that your drug plan pays. .Calculate the annual COLA using the Consumer Price Index for the Elderly (CPI-E). TSCL studies indicate that using the CPI-E would provide a very modestly - higher COLA in most years. … Continued

  • Growing Prescription Drug Shortage

    However, taking this action would cause at least two difficulties for the President. Signing legislation to reduce Medicare spending on the drugs would generate official budget savings that Congress could have applied to other health-care legislation -- bills to expand insurance coverage or reduce other drug spending, for example. Executive action taken before a bill's passage would remove a key bargaining chip, and likely reduce the scope of a health-care bill expected in the coming months. .The Guaranteed 3 Percent COLA Act (H.R. 991) from Congressman Eliot Engel (NY-16) also gained one new cosponsor this week: Congressman Andre Carson (IN-7). If adopted, it would base the Social Security cost-of-living adjustment (COLA) on the more accurate Consumer Price Index for Elderly Consumers (CPI-E), and it would guarantee an annual benefit increase of at least 3 percent. The bill now has six cosponsors in the House. .An abrupt jump in inflation in February and March of this year wiped out a short-lived improvement in the buying power of Social Security benefits in 2020, according to TSCL's latest study on rising senior costs. The study, which compares the growth in the Social Security cost of living adjustments (COLA)s with increases in the costs of goods and services typically used by retirees, found that, while consumer prices flatlined in 2020 through January 2021, costs are now sharply increasing. … Continued

While Congress continues to discuss similar changes to the Social Security benefit formula today, Notch Reform remains a legislative priority for TSCL. TSCL estimates that 2.7 million Notch babies and their spouses or widows would benefit from passage of The Notch Fairness Act. The legislation would provide Notch Babies, born 1917 through 1926, ,000 payable in four annual installments, or an improved monthly benefit. Representative Mike McIntyre (NC-7) introduced the legislation in the House where it has 17 cosponsors, and Senator David Vitter (LA) has introduced a corresponding bill in the Senate. TSCL continues to work for passage. ."For those who don't like these executive actions, there's time to get to the table and back a legislative solution," Grassley said in a statement. "I will continue the fight in Congress until significant prescription drug pricing legislation becomes law. The next coronavirus relief bill presents the perfect opportunity for Congress to meet the moment." .Social Security Cost-of-Living Adjustment – Ensure a fair, accurate, and guaranteed COLA. .The bill would provide seniors with vision benefits in 2022, hearing benefits in 2023 and some dental benefits by 202Progressives are pushing for an earlier start to the dental benefits and that the government increase its share of the cost, which ramps up to 50% by 2032. .To find contact information for your Members of Congress, to learn about important issues affecting seniors, or to sign a petition to Congress, visit the ACTION CENTER of our website. .Do you have a mortgage? A recent survey by national mortgage banker American Financing found that 44% of Americans between the ages of 60 and 70 have a mortgage when they retire. Of that group, almost one-in-three expect to be paying on their mortgage for at least eight more years. Life insurance can cover mortgage payments if you die, and a term life policy can be timed to end with debt payments. .The provision only protects an estimated 70 percent of beneficiaries (almost 43 million beneficiaries) from increases in the Medicare Part B premium that exceed the dollar amount of their COLA. When an individual's Part B premium increases more than the dollar amount of their COLA, the Part B premium is reduced to prevent a reduction in net Social Security benefits from one year to the next. .Low-income beneficiaries who receive Medicaid in addition to Medicare. State Medicaid programs pay the Part B premiums for people who qualify due to low income and resources. According to the Kaiser Family Foundation, there are approximately 10 million dually-eligible beneficiaries representing about two-thirds of those who are not protected by hold harmless. ."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.