By Alex Moore Medicare just punished drug companies for increasing the price of medicine faster than inflation. The Centers for Medicare and Medicaid Services (CMS) identified 64 drugs whose prices outpaced inflation ...
Category: Cost of Living Adjustment (COLA) Articles
Benefits Bulletin: How Much Would Seniors Save If the U.S. Eliminates Taxes on Social Security Income
By Edward Cates, Chair, TSCL President Trump laid out a major new policy proposal in December on his social media platform, Truth Social. “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!” he wrote, suggesting that he w ...
Biden Proposal to Expand Medicare Access to Weight Loss Drugs Hangs in the Balance
By Alex Moore In November, former President Biden proposed expanding anti-obesity drugs, like Wegovy, for people with Medicare and Medicaid coverage. These drugs are currently only covered for people who use them to t ...
Tax Season and Your Social Security Benefits
By Edward Cates, Chairman, TSCL It’s already February, which means that this year’s tax deadline of April 15 is just a few short weeks away. For many Social Security recipients, especially people who have just starte ...
Cost-of-Living Adjustment for 2024 Could Be 3.1%
Press Briefing 5.10.23 Research on the buying power of Social Security benefits by The Senior Citizens League (TSCL) confirms that inflation is moderating. But a lower inflation rate has not necessarily meant that pri ...
How Long Will Inflation Continue? Expect to See Rising Costs in These Five Categories
By Mary Johnson, editor Will the 5.9% cost-of-living adjustment (COLA) be enough to meet rising costs in 2022? Will Social Security recipients receive a big enough boost next year in order to afford groceries for the ...
Part B Premiums Rise 14.5%— Social Security 5.9%
In January, the Social Security checks of more than 69 million beneficiaries will rise by 5.9%. That cost- of - living adjustment (COLA) will increase an average monthly retiree benefit of $1,565 by $92 per month — far ...
How a High COLA Really Impacts Social Security Income
By Mary Johnson, editor Now that the Social Security Administration has confirmed that Social Security benefits will increase by 5.9% in January of 2022, what’s next? Several factors play an important role in determi ...
Buying Power of Social Security Benefits Plummets in 2021
Soaring inflation has deeply weakened the purchasing power of Social Security benefits in 2021, according to TSCL’s latest update on rising senior costs. The study, which compares the growth in the Social Security cost- ...
Social Security Benefits to Increase 5.9% for 2022
Social Security recipients will receive a 5.9 % cost-of-living adjustment (COLA) effective January 2022 — the highest in 40 years. The high COLA comes as more than 62 million retired and disabled Americans have spent mu ...
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