EMERGENCY 2021 COLA PROPOSED BY LAWMAKERS:
In response to the Social Security Administration's announcement of a 1.3 percent cost-of-living adjustment (COLA) for 2021, two lawmakers have introduced emergency legislation calling to increase the amount of next year's COLA. If passed, the proposed bill (HR 8598) would provide a 3 percent cost-of-living adjustment for Social Security and Supplemental Security Income to recipients in 2021. The annual COLA also affects the annuities of federal retirees in the Civil Service Retirement System (CSRS) and Federal Employees Retirement System (FERS).
"Social Security is our country's number one financial security program, and, because of the COVID-19 pandemic, people are depending on it now more than ever," said House Ways and Means Social Security Subcommittee Chairman John B Larson (D-CT). "Seniors are seeing a rise in food, medical, housing costs and more, and a 1.3 percent cost of living adjustment (COLA) is just not enough during these difficult times." According to The Senior Citizens League, while COLAs averaged 3 percent between 1999 and 2009, over the past decade the annual COLAs have averaged just 1.4 percent. Larson introduced the legislation along with Congressman Peter DeFazio (D-OR). Free subscriptions are here
OPEN SEASON: NOVEMBER 9 - DECEMBER 14, 2020
The Postal Service provides employees and retirees free access to CHECKBOOK's Guide to Health Plans for Federal Employees. Checkbook enables you to compare costs of FEHB plans side by side, so you can evaluate services and costs, including premiums, copays, and deductibles. Click on the link provided below and printed in the USPS Retiree Newsletter, then click on Checkbook. You will need to enter your name on the last day of employment, and the office from which you retired, and a few more generic questions. It will provide you a comparison of most FEHB plans. The annual Federal Employees Health Benefits (FEHB) Open Season will be held November 9, 2020, through December 14, 2020 . Read more in this month's issue.
USPS RETIREE E-NEWSLETTER: info from Bill Tierney and other sources
As part of the Postal Service's effort to keep us updated on information and resources that may be valuable to us as a retiree, the Postal Service offers a Retiree E-Newsletter. The electronic newsletter will include important information needed as a retiree that relates to benefits, wellness, financial education, and more. It is free! Here is the link to sign up: Sign up now ». And here is a link to view past issues: View past issues.
During the Retiree meeting held at the Legislative Summit, several questions arose pertaining to Medicare reimbursements, dental and vision insurance, choosing the right health plan.. "Checkbook" is provided by the www.keepingposted.org newsletter as a tool to help select the right health plan for your needs and in your Zip Code. Here is the link that provides information, and helps you rank the plans for you and your family, compare plans by total out-of-pocket costs, quality, catastrophic limits, and more: Go to Checkbook Guide to Health Plans. You may be required to register. If so, enter your name as the name you used at last office before retirement. Enter the office that you retired from. Enter your email address. Here is another link to give detailed information on dental and vision insurance: https://www.keepingposted.org/health-benefits.htm.
USPS NEWS FOR RETIREES:
The Postal Service is pleased to announce a new communication platform. Short Messaging Service (SMS) text messaging is now available. Stay up to date on important announcements, dates and information you need as a retiree. To subscribe text RETIREE to 21333. If you opt in, you will incur the cost of using SMS text messaging (normal rates will apply). This is NOT a UPMA service, but is a service of the USPS for Retirees.