News
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2014 Cola 1 5
Diversify if you can. If you have the savings, it might be wise to spread your investment between two companies or consider having a portion of yours savings in fixed annuity and a portion in a variable annuity. .Under 1977 Projections Under Actual Conditions ."We are here today because of COVID, and its consequences. Consequences that have worsened the inadequacies that have existed for a long time in our Social Security system. … Continued
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Legislative Update Week Ending September 12 2014
We want to reiterate here that TSCL is a non-partisan organization and we work with any member of Congress and both political parties when they support legislation that we believe is in the best interest of America's seniors. .In shopping for housing you will find that many senior living communities have medical criteria for acceptance. Since your sister has no children, she may need a facility that provides a continuum of care. As her health declines, she would move from independent living to assisted living, and finally nursing or memory care as her health declines. If her income is limited, all the more reason to start looking for affordable facilities ahead of time. It's not uncommon to encounter waiting lists at the most desirable facilities. .Four Key Bills Gain Support in Congress … Continued
Specialty-tier drugs are defined by Medicare, as those that cost more than 0 per month in 2019, and include drugs used to treat cancer, hepatitis C, multiple sclerosis (MS), and rheumatoid arthritis. Even when Part D enrollees reach the Medicare Part D catastrophic coverage phase, when co-insurance drops to 5%, beneficiaries who take these drugs can continue to face thousands of dollars in annual out-of-pocket costs, according to the Kaiser study. The study found that annual out-of-pocket costs for specialty drugs in 2019 are expected to average ,994 across the 28 specialty-tier drugs that are covered by drug plans. .Tucked away into the President's health care law is a little-known tax increase that's scheduled to hit seniors in 201If allowed to go forward, they will find themselves facing hundreds of dollars in higher taxes – at a time when many can least afford it. .TSCL Announces Support for New Bill .This week, the House Budget Committee met to discuss retirement security in America, and The Senior Citizens League saw three key Social Security bills gain support in Congress. .The proposal is not new. Former Federal Reserve Chairman Alan Greenspan supported a similar proposal in the late 1990s. In fact, it's one of a series of technical changes to the CPI recommended by the Boskin Commission in 1996 — which said that the CPI overstates inflation and that the COLA overpays seniors by about 1.1%. The Bureau of Labor Statistics busily instituted a number of those changes from 1995 through 2000 that, by my estimates, have already cut the rate of growth in the CPI and average Social Security benefits, compared to previous CPI measurement methodology by about 5 annually over the past ten years. If Congress were to adopt the chained CPI to calculate COLA starting with the COLA payable in 2012, that would additionally cut the growth in average benefits by about ,429 over the next ten years. .Beneficiaries are telling other Mexicans about the Social Security benefits. .If I received the ,000 Lump-Sum Settlement, would I then lose my monthly Social Security check? Would the amount of the check be raised to the level that it should have been all along? .3 Social Security scenarios show vastly different results .TSCL has serious concerns about several of the provisions in the AHCA, including the tax cut that would endanger the Medicare program. As discussions continue to advance the bill, The Senior Citizens League (TSCL) will continue to monitor them, and we will advocate on Capitol Hill for policies that would protect the Medicare Trust Fund while reducing out-of-pocket costs for older Americans. For progress updates, follow TSCL on Facebook or Twitter.
