Navigation Links
The Senior Citizens League Warns 2014 Cost of Living Adjustment Flat
Date:7/30/2013

Alexandria, VA (PRWEB) July 31, 2013

More than 62.6 million people who collect Social Security or benefits from other federal programs aren’t likely to see much growth in their payments next year. According to recent consumer price index (CPI) data through June, cost-of-living adjustments (COLAs) will stay pretty flat. Based on inflation growth over the past twelve months, the 2014 COLA will be in the vicinity of 1.7% — the same percentage of increase that seniors received this year. That would raise average monthly benefits of $1,157 by just $19.70.

While that’s better than 2010 and 2011 when inflation was so low that no COLA was paid for two years in a row, it’s unlikely to cover seniors’ real cost increases. According to a survey performed by The Senior Citizens League (TSCL), one of the nation's largest nonpartisan seniors groups, 89% of respondents reported that the 1.7% COLA in 2013 increased benefits by less than $29 per month. On the other hand, almost the same number, 88%, reported that their total monthly expenses rose by more than $39. The majority of those people, 40%, said that their monthly costs rose by more than $119.

“This discrepancy between COLAs and real costs is squeezing senior households, under the current COLA law,” says TSCL Chairman Larry Hyland. Yet despite the grim statistics, members of both parties are proposing to cut COLA growth further. Congress is considering a proposal to use a more slowly-growing CPI, known as the “chained” consumer price index, to calculate annual COLAs. The Congressional Budget Office estimates that using the chained CPI would reduce Social Security benefits by more than $127 billion over the next ten years alone. The impact would reach far beyond Social Security recipients if applied to other COLA programs. Doing so would cut benefits paid by those programs an additional $37.5 billion.

New data compiled by TSCL illustrates the number of beneficiaries in the nation’s six largest COLA – adjusted federal benefit programs. There is some overlap between programs. “If someone depends on benefits from another federal program in addition to Social Security, their income would be doubly jeopardized by COLA cuts,” Hyland points out.

TSCL is fighting COLA cuts and lobbies for legislation that would ensure a more fair and adequate COLA. “Seniors should contact their Members of Congress and urge their lawmakers to stop the COLA cuts,” Hyland says. To learn more and to find out how much you could lose, try TSCL’s Chained COLA Calculator at http://www.SeniorsLeague.org.

###

With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of TREA The Enlisted Association. Please visit http://www.SeniorsLeague.org or call 1-800-333-8725 for more information.

Read the full story at http://www.prweb.com/releases/2013/7/prweb10973355.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Depression, Anxiety Tied to Physical Disabilities in Seniors
2. Climate Change Could Be Tough on Seniors Health: Study
3. Seniors Stop Taking Heart Drugs In Medicare Donut Hole
4. Strength Training May Give Boost to Seniors Brains
5. Seniors Undertreated for Asthma, and Many Skip Inhalers: Study
6. Exercise Plus Computer Time May Boost Seniors Brains
7. Great recession reflux amounts to more hunger among seniors
8. Under pressure from Medicare, hospitals hold more seniors for observation
9. The Tennessee Car Accident Lawyers at Michael D. Ponce & Associates Alert Public of CDC Survey Revealing Majority of High School Seniors Admitting to Texting Behind Wheel
10. With Home Sales Lagging, The Lakes at Pointe West Offers Solution for Seniors
11. With Home Sales Lagging, Watersong Offers Solution for Seniors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... ... Brent Kasmer, a legally blind and certified personal trainer is helping to develop a weight ... app plans to fix the two major problems leading the fitness industry today:, ... program , They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... Washington, D.C. (PRWEB) , ... June 25, 2016 ... ... will discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June ... share their work on several important health care topics including advance care planning, ...
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June 21 due ... up a new, often overlooked aspect of head lice: the parasite’s ability to live away ... a common occurrence, but a necessary one in the event that lice have simply gotten ...
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding emergency ... its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. Ogunleye ... M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. Ogunleye ...
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... June 23, 2016 Research and ... Excipients Market by Type (Organic Chemical (Sugar, Petrochemical, Glycerin), ... Topical, Coating, Parenteral) - Global Forecast to 2021" ... The global pharmaceutical excipients market is projected ... CAGR of 6.1% in the forecast period 2016 to ...
(Date:6/23/2016)... Roche (SIX: RO, ROG; OTCQX: RHHBY) announced ... BRAHMS PCT (procalcitonin) assay as a dedicated testing solution ... this clearance, Roche is the first IVD company in ... sepsis risk assessment and management. PCT is ... levels in blood can aid clinicians in assessing the ...
(Date:6/23/2016)... LOS ANGELES , June 23, 2016 /PRNewswire/ ... (NASDAQ: CAPR ), a biotechnology company ... first-in-class therapeutics, today announced that patient enrollment in ... progrEssion in Duchenne) has exceeded 50% of its ... its enrollment in the third quarter of 2016, ...
Breaking Medicine Technology: