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 treat other conditions, like diabetes and heart disease. However, the change faces a threat from the incoming administration. The new administration’s pick to lead ...

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 started claiming their benefits, it adds yet another layer of complexity to figuring out how much you owe the government—or ...

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 prices have come down. This year the study found that the oldest adults, especially those (age 85 and older) who retired before 2000, ...

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 entire month, instead of running short before the month ends?  From what I’m reading, the rate of price inflation is ...

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 more than the meager inflation adjustments over most of the past 12 years when COLAs averaged just ...

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 determining the final financial impact that 2021’s high inflation will have on your Social Security income.  But beneficiaries won’t get the full picture ...

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-of-living adjustments (COLAs) with increases in the costs of goods and services typically used by retirees, found that Social Security benefits have ...

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 much of 2021 struggling with price increases the likes of which haven’t been seen since 1982. The COLA will increase an ...

Most Look Forward to Boost; Low-Income Retirees Worry Benefits Could be Trimmed By Rick Delaney, Chairman of the Board We have been hearing from hundreds of you who are watching the inflation numbers and eagerly looking forward to getting a high inflation boost next year.  But a number of you point out an urgent problem that occurs ...

By Mary Johnson, editor The Social Security cost-of-living adjustment (COLA) for next year is likely to be the highest seen by retirees since 1982.  Based on the most recent CPI data through August, I estimate that the COLA will increase Social Security benefits by 6%-6.1% in 2022.  This would be the highest increase that I’ve forecast ...