If signed into law, the Consumer Price Index for Elderly Consumers Act would amend the Social Security Act with regard to the annual cost-of-living adjustment for Social Security benefits. Currently, the COLA is based upon the spending patterns of young, urban workers using the CPI for Urban Wage Earners. This legislation would calculate the COLA based on the spending patterns of seniors by using the CPI-E..TSCL's Take.The Meals on Wheels Association estimates that could mean 19 million fewer meals will be served. According to a Meals on Wheels survey, 70% of programs are cutting the number of meals served, 50% are reducing the number of seniors being served, and one-in-six are closing community center meal sites, or home-delivered programs..Food: The cost of food has been rising faster in recent years and food prices have easily outpaced overall inflation for many other types of goods. Among other senior spending categories, only prices for oil-based products and medical care have risen faster than food prices. The U.S. Department of Agriculture reports that meat prices, particularly beef and veal, are at record highs, and the USDA expects high prices for beef products through 201Poultry prices remain high but are falling. Try new recipes and plan menus. Use lower–cost cuts of meat and poultry and stretch your servings using less expensive sources of protein like beans, tofu, and high protein whole grains. Four chicken leg quarters that sell for under .49 per pound, for example, can yield 12 - one cup servings of home made chicken and whole grain rice soup, especially good made with white soup beans and fresh chopped mustard greens or endive. Freeze the extra and share with homebound friends..Last week President Trump announced he will once again ask Congress to pass more economic stimulus legislation that he insists must include a payroll tax cut. In other words, he wants to cut the amount of money that is paid into Social Security and Medicare by today's workers the money that funds the checks sent out to those who receive payments and pays for the health care of seniors each month.."The Cuts To A Major Disability Program In Trump's Budget," Jacqueline Alemany, CBS News, June 1, 2017..The Notch that..Again, those projections were made prior to the effects of the pandemic. You can be sure when this is all over, the projections will be much worse..Providers couldn't send patients a balance bill for any amounts that exceed the cost-sharing requirement in those scenarios.
