Navigation Links
The Senior Citizens League Warns Chained CPI Affects More Than COLAs, Seniors Would Get Less, Pay More
Date:8/19/2013

Alexandria, VA (PRWEB) August 19, 2013

Most seniors are aware of the impact of the consumer price index (CPI) on their cost-of-living adjustments (COLAs). But a widely-debated deficit reduction proposal that would switch to the more slowly-growing “chained” CPI to determine COLAs would have far greater impact than Social Security cuts alone if applied government-wide, warns The Seniors Citizens League (TSCL), one of the nation’s largest nonpartisan seniors groups.

President Obama included the proposal in his fiscal year 2014 budget plan, and it has won support among Congressional proponents on both sides of the aisle. “Chaining the COLA is getting so much attention because it’s a deficit cutter’s magic bullet,’” says Larry Hyland, Chairman of TSCL. The Congressional Budget Office has estimated that the proposal would cut federal spending by $216 billion and increase revenues by $123.7 billion— reducing the deficit by $339.8 billion in the first ten years alone.

In addition to Social Security, beneficiaries of the Supplemental Security Income program (SSI), military retirement and veterans programs, Rail Road Retirement, civil service and federal workers programs — more than 62.5 million beneficiaries in all— would bear the brunt of the cuts by receiving lower benefits. But in addition to the cut in income, the change would also increase seniors’ costs. Specifically:

  •     Some Medicare coverage would become less generous, such as more slowly-growing Part D coverage amounts.
  •     Fewer low-income seniors would qualify for Medicaid, or such seniors would have to wait longer to qualify. This could include nursing home stays as the income limits rise more slowly.
  •     Fewer low-income seniors would qualify for food stamps, and the food stamp benefit would grow more slowly.
  •     Seniors would pay more in taxes as tax brackets, exemptions, and deductions, which are indexed to the CPI, rise more slowly.

TSCL has compiled a chart, “12 Ways Seniors Would Get Less, Pay More”, which illustrates these effects.

“Efforts have been quietly underway for months to lay the groundwork for a far-reaching fiscal deal that involves Social Security cost-of-living adjustments (COLAs) and Medicare benefits,” Hyland notes. “It’s important for older Americans to realize that switching to the “chained” CPI is no single, or small, one-time cut. It’s a permanent annual cut across multiple senior programs that grows bigger over time the longer one lives,” Hyland states. “In the meantime senior taxpayers would pay more in taxes,” he adds.

TSCL is fighting “Chaining the COLA” and higher Medicare costs, and encourages seniors to attend town hall meetings and to contact their Members of Congress. To learn how much COLA cuts would cost you, try TSCL’s Chained COLA calculator. To subscribe to TSCL’s newsletter The Social Security and Medicare Advisor, visit 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/2013/8/prweb11035875.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)... ... 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a Media Slicing ... their videos a whole new perspective by using the title layers in ProSlice ... , ProSlice Levels contains over 30 Different presets to choose from. FCPX ...
(Date:6/26/2016)... , ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal ... personalized through a fitness app. The fitness app plans to fix the two major problems ... offer a one size fits all type program , They don’t eliminate all ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes ... important health care topics including advance care planning, healthcare costs and patient and ...
(Date:6/25/2016)... ... ... of Bruton Memorial Library on June 21 due to a possible lice infestation, as reported ... head lice: the parasite’s ability to live away from a human host, and to infest ... in the event that lice have simply gotten out of control. , As lice are ...
(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 ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... ALEXANDRIA, Va. , June 24, 2016 ... a set of recommendations that would allow ... information (HCEI) with entities that make formulary and coverage ... determine the "value" of new medicines. The ... that does not appear on the drug label, a ...
(Date:6/24/2016)... SAN CLEMENTE, Calif. , June 24, 2016 /PRNewswire/ ... pulmonary function testing company, is now able to perform sophisticated lung ... ndd Medical Technologies , Inc. Patients are ... labs.  Thanks to ndd,s EasyOne PRO ® , ARL patients like ... any needed testing done in the comfort of her own home. ...
(Date:6/24/2016)... , June 24, 2016 According ... by Type (Standard Pen Needles, Safety Pen Needles), Needle ... GLP-1, Growth Hormone), Mode of Purchase (Retail, Non-Retail) - ... This report studies the market for the forecast period ... reach USD 2.81 Billion by 2021 from USD 1.65 ...
Breaking Medicine Technology: