News

  • The Advisor Volume 16 June 2011 Part 2 Feed

    Over the past five years, the Social Security cost-of-living adjustment (COLA) has reached an all-time low, averaging just 1.5 percent. Seniors, however, have reported that their living expenses are higher than ever. In fact, The Senior Citizens League (TSCL) has found that seniors have lost almost one-third of their purchasing power since 2000, and their expenses have increased more than twice as fast as the annual COLA. Today, it is more clear than ever that the Social Security COLA is failing to help seniors keep up. .In a January 2017 survey of The Senior Citizens League's members and supporters, 34 percent said they itemize deductions for out-of-pocket healthcare costs most years. One member of The Senior Citizens League – William P. from California – recently contacted us to share his concerns about the elimination of the medical expense deduction. William is home-bound due to several medical conditions, and he relies on home health aides to provide him with lifesaving care on a daily basis. At the age of 61, William is not yet eligible for Medicare and he expects the out-of-pocket cost of his care to total ,000 by the end of this year. The elimination of the medical expense deduction would be a major financial loss for him. .Sources: Options For Reducing The Deficit: 2014 to 2023, Congressional Budget Office, November 2013. … Continued

  • Legislative Update Week Ending January 27 2017

    With respect to security: When The Senior Citizens League transfers and receives certain types of sensitive information such as financial or health information, we redirect visitors to a secure server and will notify visitors through a pop-up screen on our site. .Medicaid Cuts Would Hit Notch Babies And Families Hardest .While the House of Representatives has passed legislation (H.R. 1868) to stop those cuts, the Senate has been a question mark. … Continued

Health Subcommittee Hears from Medicare Providers .TSCL Supports New Legislation .Understand how much risk the insurer shifts to you. Deductibles can commonly range from 0 to ,500, but claims for severe weather disasters can find you responsible for paying as much as 5% of your home's insured value (up to 10 percent in Florida) before your insurer covers damage expenses. Example: Your home is insured for 0,000 and your policy calls for a 5% deductible for hurricanes. You would pay ,500 out-of-pocket on any storm claim prior to your insurer covering the rest. .One widely-discussed proposal would limit the drop in benefits when a spouse dies to 75% of the couple's combined benefit. In the example above that would boost the widow's benefit by 0 per month to ,800. .When attending town halls, find out how your candidate stands on this issue. Ask whether he or she supports expanding Medicare coverage to dental care. .TSCL is advocating for legislation that would provide a more fair and adequate COLA, by tying the annual adjustment to the Consumer Price Index for the Elderly (CPI- E). Projections show that by using the CPI-E, Social Security benefits would be about 9 percent higher over 25 years. An average benefit of ,300 in 2017 would be about 2 per month more at the end of the 2year period using the CPI-E. .Congress has adjourned for a month-long recess and, with the November elections looming, many lawmakers will be holding town hall meetings in their home states and districts. TSCL encourages you to attend these events, since they present excellent opportunities to make your voice heard and to learn more about the candidates. To best be prepared, jot down a few questions that you would like to ask your elected officials. Below are ten examples – feel free to take them with you and share them with others. .Confirmation Process Begins for Burwell .This week, one House Subcommittee heard from the Medicare Payment Advisory Commission (MedPAC) about its most recent report to Congress, which was titled Medicare and the Health Care Delivery System. In addition, the 2013 recovery estimate was released for the Senior Medicare Patrol, and The Senior Citizens League (TSCL) saw support grow for two key bills.