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Category News Press Releases Page 11
This week, the Social Security Fairness Act (H.R.1205, S.915) gained one new cosponsor in Congressman Steve Stivers (OH-15), bringing the new cosponsor total up to 16In the Senate, the bill gained six new cosponsors in Senator Bill Nelson (FL), Senator Sheldon Whitehouse (RI), Senator Elizabeth Warren (MA), Senator Mazie Hirono (HI), Senator Jack Reed (RI), and Senator Patrick Leahy (VT). If signed into law, the Social Security Fairness Act would repeal the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP) – two Social Security provisions that unfairly reduce the earned benefits of millions of public employees each year. .Married living with spouse — annual income is less than ,360 (,030) and resources less than ,600 per year. .TSCL opposes legislative efforts that would make today's seniors and those nearing Medicare-age pay higher costs for their Medicare coverage. … Continued
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With Colas Target Of Budget Cuts Seniors Question High Earner Tax Break 4
On Wednesday, the Ways and Means Health Subcommittee held a hearing focusing on a number of Medicare provider payment provisions that are set to expire at the end of this year. The Subcommittee heard from an expert panel of witnesses, which included Richard Umbdenstock, President of the American Hospital Association, and Robert Wah, Chairman of the Board of Trustees at the American Medical Association. .Part B premiums are only part of what Medicare recipients pay. People also have premiums for a Medigap supplement and Part D plan, or a Medicare Advantage plan and those premiums are rising as well. Hold harmless protection does not apply to premium increases in these private plans, and any increase would leave retirees .If a COVID-19 vaccine yields a price of, say, 0 a course, vaccinating the entire population would bring a company over 0 billion, almost all of it profit. … Continued
As we foresaw last week, Congress was not able to finish its work by the end of the day last Friday and had to pass two continuing resolutions (CR) in order to give themselves more time. The current CR runs through next Monday, the 28th. .Let's be clear about this, this is the responsibility of the Ways and Means Committee, and specifically this subcommittee. .Spending Deal Reached by Congress .Many believe that Sen. Conrad's plan entails a fair balance of spending cuts and revenue increases, and they are pleased that he has revived the Fiscal Commission's recommendations. Others, however, have expressed concerns about some of the entitlement spending cuts that it calls for. TSCL in particular is concerned about the adoption of the Chained Consumer Price Index, which could significantly reduce the lifetime benefits collected by future Social Security recipients. .TSCL has many veterans among its supporters and no-doubt not all of them have a disability rating so they may be happy to know that Congress is considering including them in the VA's Covid-19 vaccination efforts. .More than 10,000 people died waiting for a disability decision from the Social Security Administration in 201The rising death toll coincides with the growing backlog of people awaiting a decision about their eligibility for Social Security disability insurance benefits. But even after a disabled individual has been found eligible, he or she must wait 5 months for benefits to begin, and 2 whole years before Medicare benefits start. The long waits, especially for Medicare, have forced many low to middle-income disabled beneficiaries to deplete their savings while they wait. .It's hard to say until you crunch the numbers. You may qualify for Social Security benefits with as little as ten years of work through your self-employment. But even if you do, you will be subject to the Windfall Elimination Provision (WEP) which reduces Social Security benefits when you receive a pension based on non-covered government employment. .The responsibility is on you to notify the SSA of your age, and file an application for retirement benefits based on your own earnings, if higher. As you continue working past age 66, the retirement benefit you receive based on your own earnings continues to grow. That retirement credit is only applied until age 70; however, there's no additional increase thereafter, so put in your claim now. .Starting a new medication can sometimes take you by surprise when drug plans don't cover the drug or charge higher co-pays than you can afford. If you're having trouble covering the cost of your medicine, here are some things to try:
