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Costs not covered by Medicare such as dental, vision and audio care..This week, TSCL announced its support for new legislation from Congressman Walter Jones that would create a Social Security guarantee for all eligible recipients. The Social Security Guarantee Act, if adopted, would guarantee by law the right of individuals to receive Social Security benefits in full and with accurate annual cost-of-living adjustments..This may be difficult to believe, but consumer price index data suggests that the annual Social Security cost-of-living adjustment for 2020 could be close to zero next year - a mere 0.5 percentage point. This comes even as the costs of goods and services used by retirees are shooting upward according to responses to TSCL's 2019 Senior Survey..But that's not all. Congressional Democrats also want to add dental, vision and hearing coverage to Medicare but that goal is running into resistance from powerful health industry lobbies..This is an issue TSCL will continue to monitor as the year progresses to make sure the legislation is implemented as Congress intended..Based on your current age, your full retirement age is 6That's the age when you can retire and receive the full, unreduced amount of your benefits. If you start benefits at age 64 your benefit will be reduced 20%. For example if you are eligible for ,200 at age 66 you would only receive 0 per month at age 64..By U.S. Representative Abigail Spanberger.For years, TSCL has been advocating on Capitol Hill for a more fair and accurate Social Security COLA for beneficiaries. The Consumer Price Index for Elderly Consumers Act legislation introduced by Rep. Michael Honda is a common-sense solution that would better protect the purchasing power of Social Security benefits since it would use a more accurate measure of inflation..ROTH IRAs require that you take distributions by age 70 and a half or pay a

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Here's a hypothetical example: Let's say that you shop at the same grocery store every week. The price of navel oranges varies by the time of year, but in December of 2018 you were able to buy navel oranges for about .39 a pound. By June of 2019, however, the price goes up to .4That's a difference of $.10 a pound and a 7% jump in cost. That's price inflation..The Committee has held two additional hearings on prescription drug prices. In July, the Committee heard directly from patients who are unable to afford their prescription drugs. Two of the witnesses at that hearing were Medicare beneficiaries who were prescribed a cancer drug priced at more than ,000 per month..Medicare spending in 2013 accounts for 16% of the federal budget. That spending is projected to almost double as a share of the nation's economy in coming years, according to the Congressional Budget Office. The House, Senate, and the President's budget plans contain a number of provisions that would cut federal spending on Medicare. But how do senior voters view the proposals? … Continued

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In the weeks ahead, The Senior Citizens League will be closely monitoring discussions in the House and Senate to repeal the ACA since they will impact older Americans in several ways. For instance, Medicare Part D beneficiaries who fall into the coverage gap or "doughnut hole" will face higher costs for their prescription drugs, and the Hospital Insurance Trust Fund that finances Medicare Part A will lose a critical stream of funding. For updates on the repeal of the ACA, visit the Legislative News section of our website, or follow TSCL on Facebook or Twitter..Recently a friend of mine in her late 70's wondered, "How would I know it's time for assisted living if I live alone?" She has no close family of her own for caregiving. What do you recommend for people like this?.The bill would provide critical savings to millions of older taxpayers with modest incomes below the new threshold amounts. But, as frequently can happen when legislation is under deliberation, progress on the bill was recently put on hold. Lawmakers are considering how the revenues to the Social Security and Medicare Trust Fund would be allocated, and from where replacement revenues lost due to the tax cut would come. … Continued