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  • Odds Growing Zero Cola 2016

    That estimate is based on consumer price index (CPI) data through August, but it could significantly change with the September CPI data. Estimating the COLA this year has been far more challenging than in previous years due to the impact of hurricanes Harvey and Irma, which are affecting the prices of gasoline, food, housing and other costs. "We've got a hurricane wild card this year," Johnson says. "When the COLA is announced in October 13th, my 1.8 percent estimate could be off the mark," she says. "This is especially so when you take a look at what happened after Hurricane Katrina in 2005," Johnson notes. .Are These Home Nurse Visits Legit? .Analysts say that deeper Medicare cuts may be back on the table by the end of the year. One of the most controversial proposals would convert Medicare into a system called "premium support." Under the proposal, the government would allocate a fixed amount of money for Medicare beneficiaries' premiums; and people would then purchase coverage from private health plans that would provide all their care. … Continued

  • Medicare Tops U S Healthcare Lags Nations

    If adopted, S. 61 would allow for the personal importation of safe and affordable drugs from approved pharmacies in Canada. .In fact, the CPI-W does't even measure one of the most rapidly rising senior costs – Medicare Part B premiums. TSCL's research has found that Medicare Part B premiums rank as the third-fastest growing senior cost since 2000. Only home heating and gasoline have increased faster. To put the problem of Medicare's cost growth into perspective, the following table illustrates what common food items would cost in 2014, if they had increased as rapidly as Medicare Part B premiums. To give a full picture, this table spans a 3year period, the length of time that many Baby Boomers can expect to live in retirement. Medicare Part B premiums are twelve times higher today than 34 years ago in 1980. .The Senior Citizens League supports bipartisan legislation that would require Medicare to negotiate lower prices for Medicare Part D, would allow safe importation of prescription drugs from Canada and other countries where the same drugs are often sold for much less, and would ban "pay for delay" deals between drug manufacturers that keep cheaper generics off the market. To learn what you can do to help fight high drug costs, visit . … Continued

For updates on the progress of the Prescription Drug Affordability Act or for more information about the Medicare Part D doughnut hole, visit our website at or find us on Facebook and Twitter. .In his speech, President Obama also spoke briefly about a new retirement savings plan that will allow citizens to invest in low-risk Treasury bonds through "myRA" accounts. Shortly after the speech, he signed a presidential memorandum directing the Treasury Department to create the new plans. While TSCL agrees that saving for retirement is crucial for younger generations, we were disappointed that the President did not propose any efforts to assist today's seniors. Most Americans over the age of sixty-five rely heavily upon their Social Security checks to meet their daily needs. However, our research shows that seniors are unable to keep up with rising costs – their expenses are rising more than twice as fast as the Social Security cost-of-living adjustment. We strongly believe that Congress should act soon to restore the purchasing power of Social Security benefits. .For example, RMDs for retirees who turned 70 ½ in 2019 would have been based on the value of their retirement accounts on December 31, 201At that time the Dow was 28,462 compared to 24,101 on April 1, 2020, when their RMD was due. However, the CARES Act waiver applies to this group as well as people like you who turn 70 ½ in 2020. .Editor's note: Telephone etiquette has changed! Ask around, and you'll probably discover that many people are letting their voice mail or answering systems screen calls. This is no longer considered rude — but acting in self - defense. Protect yourself from scam (and your dinner from getting cold due to calls at meal time.). Be defensive: .This week, The Senior Citizens League (TSCL) announced its support for legislation that would increase the administrative funding of the Social Security program, prevent field office closures, and eliminate two waiting periods that Disability Insurance (DI) beneficiaries must endure. In addition, six key bills gained new cosponsors in the House. .Since the start of CPI-E in 1983, the average difference between it and the CPI-W is roughly .25 percentage point per year. Sounds tiny but, like interest, it compounds over time. Had the CPI-E been used to determine COLAs since 2015, your benefit would be about 2% higher today. An average benefit of ,215 per month in 2015 will increase to ,298 per month in 2020. But had the CPI-E been used to calculate the COLAs, that benefit would have been per month more or ,324 in 2020. .According to Medicare, no single organization was behind the 35 people charged in the genetic testing scam, which included 9 doctors. All of this comes at a time when Medicare and Medicare Advantage are expanding the use of telemedicine, which allows doctors and nurses to connect with patients over the internet or by cell phone for consultations and to check symptoms remotely. .Many expected the Obama administration to seek an emergency review of the decision by the Supreme Court, but on Wednesday, the Justice Department announced that it would not. Instead, the administration said it will focus on another 5th Circuit hearing that's scheduled for the week of July 6th. .Just years before they were set to retire, these individuals learned that they would have significantly lower benefits than originally anticipated. The issue was created by the amendments to the Social Security Act that were signed into law in 1977, and it has compounded over time.