Seniors nationwide are watching their Social Security checks shrink before their eyes ...
as rising premiums for healthcare and drug coverage eat away more and more of their limited monthly income. And each year it’s getting worse.
Skyrocketing healthcare costs are triggering rising Medicare premiums that reduce the amount of money left in seniors’ Social Security checks each month. In fact, the average retiree will lose 25% of their Social Security COLA in 2008 due to higher Medicare premiums. Many seniors enrolled in more expensive prescription drug plans will see even larger reductions in their COLA. Those with lower incomes (and smaller Social Security benefits) can lose their entire COLA due to the rising health care costs reflected in the Medicare premiums.
It’s easy to see why seniors’ Social Security cost of living adjustments (COLAs) are shrinking away at such a fast pace. That’s why we’re especially pleased to see new legislation introduced this week to limit the bite premiums can take from retirees’ monthly Social Security check. The “Social Security COLA Protection Act of 2007” would guarantee that no more than 25% of a retiree’s annual COLA could be taken by the combined increases in Part B and Part D Medicare premiums. Senator Tim Johnson (D-SD) and Rep. Stephanie Herseth Sandlin (D-SD) are the bill’s sponsors.
Wednesday, December 19, 2007
Social Security COLA’S Can’t Keep Up
Tuesday, March 13, 2007
110th Legislative Agenda Focuses on Critical Issues for Seniors
With the war in Iraq, Congressional hearings on US Attorney firings and countless other issues currently leading the news, it's easy to lose sight of all of the other important issues still simmering on Capitol Hill's back burner. Among them, many proposals which are critical to seniors currently receiving Social Security and Medicare.
Wednesday, March 7, 2007
Let's Rethink Aging
What a wonderful challenge and theme for this year's Joint Conference of the American Society on Aging and the National Council on Aging!
Nearly 4 thousand professionals in the field of aging are in Chicago today for the two day event. This is a huge gathering of some of the America's best thinkers on aging policy. They're challenging themselves to think broadly and creatively about our aging nation. James P. Firman, President and CEO of NCOA says:
"This conference presents an opportunity to rethink the possibilities of an aging society, to reassess and reaffirm our commitment to improving the lives of older adults and strengthening communities. As the American population ages rapidly in the coming years, it will be especially important for professionals in aging to develop new strategies for helping those with the greatest needs."
Our own President/CEO, Barbara Kennelly, was honored this morning with the American Society on Aging's 2007 ASA Award. Barbara also presented a special lecture with NCPSSM board member Dr. Carroll Estes , PhD entitled: “The Politics of Social Security and Medicare Privatization. Details are in this News Release.
