New legislation passed in the House to repeal and replace Obamacare puts access to health care for the sickest, poorest, and even older Americans on Medicare at risk, warns The Senior Citizens League. Says TSCL's Medicare and Social Security policy analyst, Mary Johnson, "The GOP's American Health Care Act:.Your own retirement benefit would be low if you were to take it at age 64 - prior to reaching your full retirement age. Full retirement age at which you start receiving full, unreduced benefits, is rising. For people born in 1956 your full retirement age is 66 and 4 months..If you own stocks in a retirement account, make sure the company holding your.Should I Allow My New Health Law Coverage To "Automatically Renew"?.Nationwide, nearly 1.5 million people are affected by the WEP, meaning that those who receive a public pension from a job, and are not covered by Social Security, see their benefits reduced. For example, a teacher who spends summers working a second job, or a first responder who leaves the force after years of service, but is not yet ready to retire, can see his or her benefits reduced by up to 40 percent..To help protect the buying power of benefits, TSCL supports legislation that would base COLAs on the Consumer Price Index for the Elderly..Good news is hard to come by these days. While a pandemic has hit our nation at least once before, none of us alive have ever experienced anything like this. In addition to the concern over catching the virus, the economy continues to take a huge hit, and no one knows how long this will last or how bad it's going to get..How the Pandemic is Affecting Retirement Savings as of December 31, 2020."We continue to see this as a critical public health tool," CDC Director Robert Redfield said. Responding to questions about large public gathers of unmasked people, he stated that, "obviously we're very concerned that our public health message isn't resonating."

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.In addition, one new cosponsor Sen. Christopher Murphy signed on to the Social Security Fairness Act this week, bringing the total up to fourteen in the Senate. If signed into law, S. 896 would repeal two provisions of the Social Security Act that unfairly reduce the earned benefits of millions of state and local government employees each year. TSCL believes that the two provisions the Windfall Elimination Provision and the Government Pension Offset must be repealed before the end of this year so that dedicated public servants receive the retirement security they have earned..How would this compare with the "senior" CPI, the Consumer Price Index for the Elderly ? Estimates for TSCL indicate that if the CPI-E were to be used to determine the COLA for 2017 the COLA would be 1.7% - 1.1% higher than COLAs under the CPI-W, but federal poverty levels will rise as well. … Continued

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Uncertain: 17%.What do you think? Take TSCL's 2016 Senior Survey..Sadly, Social Security benefits and cost-of-living adjustments specifically, have not kept up with inflation in recent years. The Senior Citizens League has estimated that the 2021 COLA will be just 1.3%., the second lowest in its history. This comes as our nation grapples with a once-in-a-century pandemic and seniors are relying on their Social Security benefits to get by more than ever before. … Continued

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