News

In addition to rapidly growing Medigap premiums, retirees also must pay for premiums for Medicare Part B and their drug plans. The combination takes a bigger bite out of Social Security benefits and other retirement resources when COLAs fail to keep pace. "The financial drain on benefits is difficult to anticipate, and many retirees don't have adequate savings to begin with," Johnson says..With inflation soaring in 2021, The Senior Citizens League has received dozens of emails from retired and disabled adults who say they have cut back on prescription drugs to cope with rising costs, because they have no savings. Said one disabled retiree, "My husband and I have Social Security as our only income. All of our savings went to pay my medical bills. I have seven prescriptions and my husband has three. They are each a minimum of co-pay per month. We have no extra money. Our grocery budget is the only place we can cut from if we want to pay medical bills.".And there is this report from Vox News:.The fact that there are actually two Social Security trust funds is important when you break down the numbers behind the trust funds' cash deficits. According to the Social Security Trustees' "intermediate" projections, the OASI trust fund would run a cash deficit of billion in 2010, and the DI trust fund a billion cash deficit.."Notch Babies are now at the age where they are more likely to have chronic health problems and require multiple prescriptions," says TSCL Chairman Larry Hyland. "They are finding it difficult to make their lower benefits cover rising Medicare premiums and out-of-pocket costs, let alone all their other rising costs. The time has come to settle this," Hyland says..Physicians have another medication at their disposal for treating diabetes after the Food and Drug Administration has now approved a new long-acting insulin product derived from the established drug Lantus..This week, one new cosponsor Rep. David Loebsack signed on to the Consumer Price Index for Elderly Consumers Act, bringing the cosponsor total up to twenty-two. If signed into law, H.R. 1030 would adopt the CPI-E for the purpose of calculating Social Security cost-of-living adjustments. Currently, COLAs are based upon the way young, urban workers spend their money a method that underestimates the spending inflation seniors experience. H.R. 1030 would address this issue, resulting in more fair and accurate COLAs for seniors..We should also ensure senior citizens are getting an accurate cost of living adjustment. The model the government is using right now would be fine if seniors were regularly buying iPods and laptop computers. But that's just not the case. I've proposed a better way to calculate the COLA based on items seniors actually use, such as food, housing, gasoline, healthcare and prescription drugs..In addition, prescription drug pricing is still on the priority list.

Es Faqs Preguntas Frecuentes Mercado De Seguros De Salud Y Aca Cuando Puedo Inscribirme En Medicaid A Traves Del Mercado

It is time to invest in these essential caregivers and our seniors. It is for this reason that I introduced H.R. 4445, the Improving Care for Vulnerable Older Citizens through Workforce Advancement Act of 201The bill would amend the Older Americans Act of 1965 to establish six, three-year demonstration projects to test models of care using direct-care workers in advanced roles. These demonstrations would focus on care coordination and improved delivery of health services for older adults with chronic illness or at-risk of re-hospitalization. Two projects would train DCWs to take on increased responsibilities related to caring for patients with specific diseases, including Alzheimer's, dementia, congestive heart failure, and diabetes. Two additional projects would include DCWs as members of interdisciplinary care coordination teams and use their abilities to promote smooth transitions in care. The final two would use DCWs to monitor patient health status, help consumers follow prescribed care, and educate consumers and family caregiver..Alexandria, VA leading proposal to temporarily fix the looming insolvency of the Social Security disability trust fund by reallocating payroll taxes has virtually no support among seniors, according to a new poll by The Senior Citizens League. Less than one percent of seniors polled said shifting revenues from the Social Security retirement trust fund to pay disability benefits was the best way to fix the disability program's financing. "TSCL believes this 'band aid' approach will not be quietly tolerated this time around," says TSCL Chairman Ed Cates. "Today's senior voters have clear preferences for how they think lawmakers should address the disability program's funding shortfalls - reallocation of payroll taxes from the trust fund that pays retirement benefits is not one of them," Cates states..A growing number of Social Security recipients are affected by the tax, because the income thresholds are fixed, rather than adjusted annually, like income brackets. Because of this, the number of Social Security recipients who are hit by the tax has increased substantially over the years as incomes increased. … Continued

Thrive Tips For Staying Sober In The New Year

Unlike the rest of our tax system, which is progressive, meaning the lower the income, the lower the tax rate that people must pay - Social Security payroll taxes are regressive. The first dollar of earnings is taxed for Social Security, and all workers pay 6.2% tax on earnings - an amount that is matched by employers - but only on the first 8,500 in earnings. But because of the taxable maximum cap, the highest paid workers, like CEOs of major corporations who receive millions in wages and even Member of Congress, are pocketing a huge tax break, 6.2% of every dollar earned over 8,500..Put a medical emergency plan into place, before you need one: Having no plan for emergencies, especially if you live alone, or with a spouse who also needs special care means you need to have a medical emergency plan in case something happens to you. Often doctors will order observation care when you are too sick to safely go home. Although this can still occur even with the best-laid plan, you may be able to reduce the length of an observation stay if you have someone who will take care of you once you are released..Yes, unfortunately this is correct. Under current law Social Security benefits are not payable for the month in which a beneficiary dies. This is so even when the beneficiary, like your husband, passes away on the last day of the month. However, according to the Social Security Administration the check that an individual receives in a given month is the payment for the preceding month. That means the check that your husband received during the month of March was his benefit for February, which you would be entitled to keep. It is the March payment that you would have received in April, and any thereafter that must be returned. … Continued