Rushed or pressured to sign papers. Is the salesman or dealer herding you into an office and telling you to sign now or lose your deal? That's a sure sign it's a deal worth missing..This discrepancy between COLAs and real costs is squeezing senior households. Retirees are forced to draw down savings faster than planned, and work far longer than anyone ever imagined. In addition, the percentage of households with credit card debt headed by someone age 75 or older has doubled from 11 percent in 1998 to 22 percent in 2010 according to recent data from the Employee Benefit Research Institute. The sad fact is that people 65 and older are the fastest-growing segment of the U.S. population filing for bankruptcy. Seniors are getting deep into debt because of high medical bills, long-term care costs, and dwindling retirement savings..A pending Totalization Agreement with Mexico could add more than 1.6 million Mexicans to the rolls and cost in excess of 7 billion by 2040 according to a new report released by TREA Senior Citizens League. The cost estimate, the first of its kind, was performed for TSCL to provide a more comprehensive picture of the impact a totalization agreement with Mexico would have on the fiscal solvency of Social Security..Fastest Growing Costs of Older Households Since Beginning of 2021.This is obviously an area of concern for many TSCL members who get their prescriptions delivered through the mail as well as though who receive monthly checks by mail. If you have problems with late delivery, we urge you to contact your own Senators and Representative and let them know. Congress needs to put pressure on the postal service to get this problem fixed..Social Security Reform Extending the program's solvency without enacting harmful cuts..This unusual shift comes at a time when the number of Social Security beneficiaries starting retirement benefits has risen dramatically over the past decade. Since 2010, there has been a sizable 34% increase in the 65 and older population, those born between 1946 and 196The U.S. Census Bureau said in 2019 that "No other age group saw such a fast increase.".Like all things tax-related, it's important to estimate income accurately. Estimate too low and you may wind up having to repay those premium subsidies in higher taxes. Taking too low a subsidy may mean paying substantially more in premiums, but a bigger tax refund. If you take the tax credit in advance, changes to your income or family size could affect your health insurance subsidies and you will need to report those changes during the year. You can also opt to take a partial subsidy to both lower the premium and avoid repayments if your income fluctuates.."Protecting the integrity of the Social Security program for current and future retirees is critical to our members and supporters," Hyland said. "As such, TSCL salutes you for introducing an amendment to S. 744 that would prohibit unauthorized workers from receiving Social Security benefits based on work completed illegally, with stolen or fraudulent Social Security numbers… we believe your amendment would improve the program's long-term solvency and prevent an unspecified and unnecessary strain on the Trust Fund."

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TSCL would like to remind you that now is the perfect time to approach your Members of Congress at local events and request their support for a fair Social Security cost-of-living adjustment and for other key issues..New rules prohibit insurers from rejecting applicants with pre-existing health problems or charging you more based on your health history. The law also sets limits on how much insurers may charge older buyers. Premiums for a 64-year-old can be no more than three times as much as they are for a 21-year-old. However, concerns are widespread that insurance costs could still be challenging for many seniors..The retirement pensions of most average Americans, however, have not received the same level of dedicated protection from our elected lawmakers over the years. In 1977, Congress enacted changes to the Social Security benefit formula that cut benefits for persons who first became eligible to retire just two years later. Because of flaws in the transition and unexpectedly high inflation during the period, benefit reductions were even greater than anticipated. Seniors born from 1917 through 1926, known as Notch Babies, receive lower benefits than other seniors with similar work and earnings records. According to studies for TSCL, Notch Babies' benefits are ,000 to ,000 per year lower, on average, than those of other retirees with similar work and earnings records. … Continued

Separate Childrens Health Insurance Program Chip Income Eligibility Limits For Children

Legislation to help "Notch Victims" is Introduced.That's the case for Ninon Ruscher and her husband John of Tuscon, Arizona, who rely on Social Security for all of their income. Mrs. Ruscher says that, "seniors who rent their own homes are in a precarious financial situation." "Once we pay the monthly bills, we sit at home. We don't have the money to do anything or go anywhere. Once the food runs out we have to wait until our next Social Security payment," she adds. Mrs. Ruscher notes that even though her husband receives health benefits through the Veterans Administration, and she's enrolled in a Medicare Advantage plan, they are still trying to pay off expenses from her recent surgery earlier this year..Letter to Marilyn Tavenner, Acting Administrator, CMS, from Medicare Payment Advisory Commission, July 11, 201Testimony of Robert A. Berenson, M.D., Institute Fellow, the Urban Institute, U.S. Special Committee on Aging, July 18, 2012. … Continued

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