News

  • Category Best Ways To Save Page 6

    Terry: The anchor takes on too much weight, swaying the decision in a particular direction. It can lead us to ignore or never even consider other options. In buying a used car, the sales price may be much higher than the car is worth. Yet we start there in haggling over what we'll pay, possibly paying only somewhat less than the price, and thinking we got a good deal when we did not. In the case of the charitable donation, we may feel guilty the more we consider giving less than the anchor ("suggested") amount. .Last year was a busy and successful one for The Senior Citizens League (TSCL). Three major legislative efforts that had our support were effectively tackled by lawmakers in Congress and signed into law by President Obama. .The Super Committee deadline looms and two important bills for seniors are introduced. … Continued

  • Tscl Grassroots Spotlight

    TSCL is concerned because even though illegals approved for the program don't gain legal status, they do gain work-authorized Social Security numbers. This work-authorized number is all that the government requires to later allow non-citizens to file a claim for Social Security benefits. Under current law, the government uses all earnings to determine entitlement, as well as the amount of the initial retirement or disability benefit, even if jobs were worked illegally. .Although not many studies exist, according to one study of average earners born from 1917 through 1926, the disparity in benefits with other retirees seems to average about 26%. .In order to learn more about what services you are eligible for under Medicare, call 1-800-MEDICARE ( 7), a State Health Insurance Assistance Program counselor at your Area Agency on Aging, or your Member of Congress. … Continued

Rep. DeFazio's No Loopholes in Social Security Taxes Act (H.R. 1029) also gained new cosponsors this week. Five Members of Congress signed on, bringing the total up to twenty-five. The new cosponsors are: Reps. Robert Scott (VA-3), Collin Peterson (MN-7), Grace Napolitano (CA-32), William Enyart (IL-12), and Barbara Lee (CA-13). The bill, if signed into law, would subject all income over 0,000 to the Social Security payroll tax. Currently, the payroll tax is capped at 3,700 and no income over that amount is taxed. Rep. DeFazio's bill would reportedly add at least fifty years to the solvency of the Trust Fund responsibly, without reducing benefits for seniors. .TSCL acknowledges the fact that changes to programs like Social Security and Medicare will be necessary in the coming years, and we agree that changes should be made sooner rather than later to protect seniors from harsh benefit cuts. Our surveys show that seniors favor Social Security reform options that would require wealthier Americans to pay taxes on all of their earnings, and Medicare reform options that would better coordinate care and prioritize the prevention of fraud, waste, and abuse. .My husband survived cancer but his healthcare costs depleted our savings. Do you have suggestions for coping with debt in retirement? .Last week there was major news concerning Social Security, Medicare, and prescription drug prices – or at least so it seemed. But "the devil is in the details" and we will try to sort it out for you below. .Make a list of contact information for family members, close friends, health providers or anyone who calls regularly so you know the call is legitimate. .Provide a guaranteed minimum COLA of 3 percent. Providing a COLA guarantee of 3 percent in years when no, or an extremely low COLA is payable would eliminate the triggering of hold harmless and subsequent Medicare premium spikes on a program-wide basis. Because the vast majority of beneficiaries would be able to afford their premium increase, the cost of Part B premiums would be shared over the greatest possible number of beneficiaries, keeping Part B increases lower. .Medicare Advantage — Medicare Advantage (MA) plans are popular because they tend to have much lower, or even zero premiums. In addition, many MA plans offer drug coverage. These plans may have deductibles, and charge co-pays for most services, leaving you at risk of more in out-of-pocket costs when you use services. Starting in 2011 for the first time, all plans include a limit on out-of-pocket spending that cannot exceed ,700. .New Virus Relief Bill Could Affect Social Security and Medicare .On the unemployment payments to individuals, there are a lot of legal questions about the money the President wants to use to pay for this. He calls for billion of funding from the Department of Homeland Security's Disaster Relief Fund that is normally used for hurricanes, tornadoes, and massive fires to be shifted over to unemployment.