News
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How The Corona Virus Affects Social Security
Medicare open enrollment: It pays to get it right .TSCL encourages its members and supporters to attend these events and to voice their concerns about important Social Security and Medicare issues like inadequate cost-of-living adjustments and skyrocketing prescription drug prices. .Shopping for housing after an emergency. Your retirement housing is one of the most important investments you will ever make. It's important to start your search of retirement living options while you or the family member you are helping can optimally participate. Be realistic about care needs. Often families discover that a facility does not offer the level of services that may later be required and need to move again. … Continued
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Category Issues Cola Faqs Feed
Information about critical issues affecting seniors .TSCL is particularly concerned about adding significant new long-term permanent costs to Social Security and Medicare by providing temporary work authorization to millions of people who worked illegally prior to gaining authorization. The high degree of uncertainty about the potential future costs was made evident months before Obama ever announced the executive action in November of last year. .The calculation of the COLA is based on the percentage of difference in the average third quarter change in the Consumer Price Index for Urban Clerical Workers and Wage Earners (CPI-W) from one year to the next. In late August of 2005, Hurricane Katrina knocked out petroleum production, causing gasoline and other consumer prices to surge in September. The CPI-W shot up an astonishing 1.5 percent between August and September of that year. But since Katrina, the CPI-W has increased .042 percent on average from August to September. "Even if costs were to rise as much as they did after Katrina, the COLA for 2018 would still be about 2 percent," Johnson says. … Continued
Poll after poll has shown the American public supports expanding Social Security. It,s time Congress listens to the American people who want to expand Social Security, not the Wall Street millionaires who want to cut it. .Year after year, seniors are struggling with higher-priced groceries, copays, deductibles and prescription medications. To make matters worse, Republicans in Congress are passing bills that raise healthcare and housing costs for seniors. .And it will not feel like a bargain if we get free or cheap vaccines during a pandemic but pay dearly for annual COVID-19 shots thereafter. .Despite the coronavirus emergency, TSCL is continuing its fight for you to protect your Social Security, Medicare, and Medicaid benefits. We have had to make some adjustments in the way we carry on our work, but we have not, and will not stop our work on your behalf. .The Senior Citizens League proposes that Congress enact an emergency COLA or one - time benefit boost payable for 202TSCL supports legislation that would ensure that COLAs are no less than 3 percent. But the organization also recognizes that the Congressional Budget Office (CBO), in its January 2020 baseline, estimated that a 2.5 percent COLA would be payable for 202Thus, providing a 2.5 percent emergency COLA would provide what has already been projected for Social Security benefits by the CBO. .Fourth, one new cosponsor – Representative Raul Ruiz (CA-36) – signed on to Medicare Prescription Drug Price Negotiation Act (H.R. 242), bringing the total up to forty-four. This bill, if adopted, would require the Centers for Medicare and Medicaid Services (CMS) to negotiate lower prescription drug prices on behalf of Medicare Part D beneficiaries. Under current law, CMS is prohibited from doing so. .Spousal and survivor strategies also are important. One example is file-and-suspend, which allows a spouse to claim a spousal benefit while the individual defers claiming. Another is "claim now, claim more later," where the high earner in a married couple claims a spousal benefit based on the lower earning spouse's record, while delaying his or her own retired worker benefit. The idea is to generate higher benefits both for the individual as well as higher survivor benefits for widows. .However, right now there is no guarantee Republicans would do that, and instead, it is probable they would blame the Medicare cuts on the Democrats. .The tax cut costs the federal government approximately 0 billion each year it is extended. Allowing it to expire after this year would more than cover the cost of the Notch Fairness Act's passage. TSCL believes that Congress must pass the Notch Fairness Act to correct a wrong done to those affected by the Notch. Each of the offset options above would allow Congress to responsibly pass the Notch Fairness Act without contributing to the deficit. To learn more about the Social Security Notch, visit our website at .
