Some of the most talked-about plans using a "chained" consumer price index to calculate annual cost-of-living adjustments, cutting the payroll tax, and reducing benefits for people who are currently retired or nearing retirement would devastate many of the most vulnerable seniors..If the Social Security cost-of-living adjustment were based on a more accurate measure of inflation for seniors, beneficiaries would not be receiving a record-low 0.3% increase this year. They would be receiving an increase of 2.1% according to the Bureau of Labor Statistics. Do you support legislation that would base the COLA on a more accurate inflation index like the Consumer Price Index for the Elderly?.ReConsumer's Union has a brochure to explain how it works..This week most members of the House and Senate are back in their districts or states meeting with constituents or otherwise conducting business there. A few have stayed in Washington to take part in hearings that are scheduled this week, although since many hearings are now held virtually, they do not necessarily have to be in Washington..New Tool For Financially Insecure Seniors: EconomicCheckUp®.As with Social Security and Medicare long-term viability, reducing the high costs of drugs is also at the top on TSCL's agenda this year. These are complicated problems but Congress must find a way to deal with them and TSCL will be fighting for you as these debates continue..But no matter how legislation would be structured, Canadian health experts are warning that the plan could accelerate drug shortages in Canada. Attempting to fill the U.S. consumers' needs with pharmaceuticals from our smaller northern neighbor could not only drain supplies in Canada, but also drive up prices in that government-run health system, opponents say..Adding to the confusion, the program will affect beneficiaries differently depending on the area of the country in which they live, and how they are getting their supplies and durable medical equipment. Effective July 1, 2013, in most cases if you have "Original" Medicare coverage and get items in the new program areas, Medicare will only help pay for these items if they're provided by contract suppliers..Several lawmakers at Wednesday's hearing also asked Congressman Price whether he supports legislation like the Medicare Prescription Drug Price Negotiation Act, which would allow HHS to negotiate prescription drug prices on behalf of Medicare Part D beneficiaries. Doing so would save the Medicare program billions of dollars annually and would reduce drug costs for older Americans. TSCL was disappointed that Congressman Price refused to answer these inquiries directly, instead expressing his commitment to ensuring that "drug pricing is reasonable."

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Millions of seniors are scammed each year just like Mr. and Mrs. Shiman. In her opening statement, Chairman Susan Collins said: "According to the Government Accountability Office, America's seniors lose a staggering .9 billion a year to an ever-growing array of financial exploitation schemes and scams … Today we are putting criminals on notice that they will be stopped and they will be brought to justice.".COLAs act much like interest rates on savings. Low COLAs mean Social Security benefits grow more slowly in retirement. This occurs even though many costs experienced by retirees, such out - of - pocket spending on prescription drugs - may grow several times as fast. "People who have been retired for 10 years or longer have absorbed the full financial blow of low COLAs," Johnson says. Johnson's analysis found that, over a ten - year period, average Social Security benefits of ,075 per month in 2009 lost a total of ,258 in financial growth from 2010 to 2019 when compared to the previous decade when COLAs averaged 3 percent. By the end of that 10 year period, average benefits were 3 per month lower than they would have been had inflation averaged the more typical 3 percent..Why is the action so controversial? … Continued

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TSCL's review of the Totalization Agreement and related documents raises a number of significant questions. For example, no new estimates of the cost of the agreement to the Social Security Trust Fund were released to TSCL..The Senior Citizens League supports legislation that would provide a more fair and adequate COLA and is seeking input from the public. To participate in a survey about Social Security and Medicare, visit..TSCL Calls for End to Payroll Tax Holiday … Continued

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