News

  • Best Ways Save June 2017

    The committee found that AbbVie inflated prices for the drugs while its executives pocketed growing bonuses. The committee's two-year investigation found that AbbVie "pursued a variety of tactics to increase drug sales while raising prices for Americans, including exploiting the patent system to extend its market monopoly, abusing orphan drug protections to further block competition, and engaging in anticompetitive pricing practices." .An unusually steep drop in inflation has slightly improved the buying power of Social Security benefits this year — by about 9%. But despite the temporary improvement, Social Security benefits have still lost 22% of their buying power since 2000, according to the 2015 Survey of Senior Costs recently released by The Senior Citizens League (TSCL). .What Happened To My Higher Retirement Benefit? … Continued

  • Legislative Update Week Ending February 3 2017

    With a majority of seniors today depending on Social Security for at least half of their income over a 20 to 30 years retirement, TSCL opposes proposals that would cut the benefits of current retirees and those nearing retirement. We are continuing to monitor this proposal and waiting to see what legislation may develop. While TSCL believes that changes are needed to ensure that Social Security continues pay scheduled benefits, changes must be kept as small as possible, and phased in over as long a period as possible to allow for future retirees to learn about and adjust their plans. .It would eliminate two waiting periods that approved DI recipients must endure. Under current law, approved DI beneficiaries must wait five months to begin receiving monthly benefits, and two years to begin receiving Medicare coverage. .This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. … Continued

Upon introducing the Protecting Medicare Beneficiaries Act, Sen. Wyden said, "Today's fix will protect over 370,000 Oregonians and millions of seniors across the country from an abrupt and dramatic increase in Medicare costs. It is urgent that Congress take decisive action to ensure vulnerable Americans aren't harmed by this archaic policy." .Paying heating or cooling bills, .More than 55% of participants in TSCL's 2019 Senior Survey support federal programs that help with energy assistance. .The CPI-E Act of 2017 (H.R.1251) gained two new cosponsors in Representative Peter Welch (VT-01) and Representative Jamie Raskin (MD-08), bringing the new cosponsor total up to 4If signed into law, H.R. 1251 will base cost-of-living adjustments (COLAs) for Social Security benefits on the Consumer Price Index for the Elderly (CPI-E). .Mary: What is the "anchor effect" and could you give an example? .The market cap of Moderna, a small Boston-area company that has partnered with the National Institutes of Health in the vaccine race, has since Feb. 20, to billion from billion, turning its chief executive into an overnight billionaire. While Moderna's vaccine is regarded as a strong contender, the company has. .Insurers make major changes in their plans every year, like increasing premiums, co-pays, dropping coverage and even closing plans altogether. But according to a survey conducted by TSCL earlier this year, less than 18 percent of respondents said they switched their Part D or Medicare Advantage health plan for 201Medicare's annual Open Enrollment period starts earlier this year -- on October 15th -- and ends December 7th. Medicare beneficiaries should start the process now to find out what their choices are and how much they could save with a new Part D or Medicare Advantage plan. .Since 2000, COLAs have increased Social Security benefits by a total of 55%, yet typical senior expenses over the same period grew by 101.7%. The average Social Security benefit in 2000 was 6 per month. That benefit grew to ,262.40 by 2021 due to COLA increases. However, because retiree costs are rising at a far more rapid pace than the COLA, this study found that a Social Security benefit of ,645.60 per month in 2020 would be required just to maintain the same level of buying power as in 2000. .Because Medicare is such a crucial program, most members of Congress usually stumble over themselves to protect it. However, if the situation ever presents itself, they will use threats to Medicare to bash the other party.