This week, lawmakers in the House and Senate remained in their home states and districts for the remainder of the two-week spring recess. Both chambers are scheduled to be back in session by Tuesday, April 25th..This week, the White House held its day-long Conference on Aging and The Senior Citizens League announced its support for one new piece of legislation..The high cost of healthcare and the significant cost of serious illness or dementia is climbing at one of the most rapid rates in years. Last year TSCL's annual Senior Survey found that 29% of survey respondents spent up to one-half of their Social Security benefits on healthcare costs, up from 25% the previous year. Another 18% spent more than one-half of their benefits on healthcare, up from 13% the previous year..What to Do When Your Doctor Prescribes an Expensive Medication that Your Insurance Doesn't Cover.When the Social Security Administration receives wage reports from employers with Social Security numbers and names that don't match those on file, the reports go into an Earnings Suspense File until they can be reconciled with the rightful owner. That can occur years later when an application for benefits is received. Over the past ten years for which data is available the Social Security Administration has received on average, more than 9.5 million suspicious wage reports annually representing more than billion per year in wages. It's wages, not the amount of taxes paid that are used to determine benefits..But the promise of Medicare is in jeopardy today because some in Washington have misguided priorities. A proposal put forth by Congressman Paul Ryan that I was proud to vote against earlier this year, would end the Medicare guarantee by turning the traditional program into a handout for private insurance companies..More than 45 million Social Security beneficiaries were receiving benefits by 2000. The beneficiaries who are still alive are the group that has absorbed the fullest extent of the COLA cuts to date, which compound like interest, growing deeper over time. Chaining the COLA would cut benefits for this group an additional 10% through 2025, the analysis found..Finally, the Protecting and Preserving Social Security Act gained one new cosponsor in Senator Claire McCaskill, who brings the new cosponsor total to three. If signed into law, S. 1600 would base the Social Security COLA on the Consumer Price Index for the Elderly. The bill would also ensure that high income earners pay their fair share of taxes into Social Security..According to the Administration on Aging, almost half of older women, age 75+ live alone. While transition to assisted living is a complex decision for which there are no simple or quick answers, your friend would be wise to start making plans now while she is able to think the issues through. Planning now will allow for unpressured time to research living options, financial costs, and locating the supports she may need to live independently.
