Nearly two-thirds of the spending on prescription drugs by older Americans is for out-of-pocket costs that include deductibles, co-pays and co-insurance. Since the start of Medicare Part D in 2006, out-of-pocket costs grew 188% or roughly 16% per year by the end of 2017, far exceeding the growth in Social Security benefits, that averaged just 1.9% per year over the same period..The number of people who rely on Social Security for 90% or more of their income is growing. In 1976 one in four Social Security recipients relied on Social Security for most of their income, today one in three do. "Those who do rely on Social Security for most, or all, of their income are living very close to the poverty level," Cates says. The average Social Security benefit in 2014 was only ,304 for the year. That's just 18% above the U.S. poverty level - ,670 for a household of one..This week, in the days leading up to the five-week August recess, Members of the House focused on a series of tax extension bills and Members of the Senate debated cybersecurity legislation. Meanwhile, one House Subcommittee met to discuss the removal of Social Security numbers from Medicare cards, and The Senior Citizens League saw support grow for three key pieces of legislation..This estimate is still just that - an estimate. The 2020 COLA is based on CPI data through September 2019 and won't be announced until October. Inflation could start going up again, but with the first five months of data so low, we are likely to see another low COLA in 2020..High-income beneficiaries who pay an income-related surcharge in addition to the basic premium..The Social Security 2100 Act would make Social Security benefits more generous by:.If it weren't for the coronavirus and the start of the vaccination program against it the top news story would probably be the fact that Congress still can't reach a final agreement to keep the government from shutting down. As we indicated in last week's update, they had to pass another one-week Continuing Resolution last Friday in order to give them more time to try and pass the needed legislation..In the months ahead, The Senior Citizens League will continue to advocate for these and other policy solutions that would strengthen and enhance Social Security benefits for current and future beneficiaries. For progress updates, follow The Senior Citizens League on Twitter..Mr. Shiman said at Wednesday's hearing: "There is a special bond between grandparents and their grandchildren. The scammers knew this well and took full advantage of it with my wife and myself. They knew that when a grandchild is in trouble, grandparents go all out to help."

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On Monday, President Obama's November immigration orders which TSCL's members and supporters overwhelmingly oppose according to recent poll results were temporarily halted by U.S. District Judge Andrew Hanen of Texas. Judge Hanen did not rule on the legality of the President's orders on Tuesday the lawsuit is expected to take many months to complete. Instead, he issued a 123-page temporary injunction on the grounds that President Obama's orders did not go through the proper procedures, which require public notices and comment periods. Judge Hanen wrote: "This is not the end of the inquiry; in fact, in this case, it is really the tip of the iceberg.".But when you work, there's a limit to how much you can earn and still keep your benefits. When you are under full retirement age, your Social Security benefit will be reduced for every you are over the earnings limit..In the debate over Social Security's funding, much of the debate has focused on benefit cuts. A recent survey by the National Academy of Social Insurance, however, shows that benefit cuts aren't supported by a large majority of survey participants. Those who participated in the survey agreed on a package of changes to strengthen Social Security that doesn't cut benefits. … Continued

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investment portfolio knows your age and your upcoming income needs. You may.Seniors like your husband who are 65 and older, and enrolled in Medicare, are not affected by the new health insurance coverage requirements that become effective January 1, 201But big changes are coming to health insurance coverage for about 62 million seniors age 50 through 64 who are not yet enrolled in Medicare..Most Americans contribute 6.2% of every paycheck to Social Security, but due to the taxable maximum earnings cap, wealthy individuals earning more than 8,500 pay nothing above that amount. Do you support increasing or eliminating the maximum taxable earnings limit to make the program more solvent? … Continued

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