News

  • Cola Swallowed By Medicare Part B Increase Next Year

    The new guidance is as follows: .Sources: "Choices for Debt Reduction," The Congressional Budget Office, November 2012. .Allow states, wholesalers, and pharmacies to import FDA-approved drugs from foreign countries and sell them in the U.S. Trump has long complained that countries where the government sets the price of drugs are taking advantage of American consumers. The order includes a special provision to allow wholesalers and pharmacies to re-import insulin and biological drugs. … Continued

  • Congress Out Of Session Sort Of

    (Washington, DC) – The Social Security Administration has announced that the annual cost-of-living adjustment (COLA) will increase benefits by 2.0 percent for 201While the increase is the highest in five years, it won't be enough to offset dramatically higher Medicare Part B premium increases for millions of beneficiaries, warns The Senior Citizens League. .Terry: The anchor effect is the psychological tendency to rely too much on the first piece of information we get in the process of making a decision. For example, when you go to buy a house, the list price becomes the starting point (the "anchor") for negotiations, even if it is a very poor reflection of the home's true value. When you get a solicitation for a charitable donation in the mail, it often lists suggested contributions, starting with the highest figure they hope you will select. That high figure becomes the anchor for your thinking about what to give. .Senate investigators recently explored one such astonishing case. They took a closer look at a disability attorney and retired Social Security judge who practiced along the border area of Kentucky and West Virginia. Some 10 to 15 percent of the entire population of the area — about three times the national average — is on disability. … Continued

Potential amendments to the bill were discussed at the hearing, and at this point in the process it seems that measures to strengthen border security and enhance Congressional oversight will be put forth. One committee member, Sen. Al Franken (MN), stated: "I and other Senators will do everything we can to amend this bill." Members of the Gang of Eight, on the other hand, have said they will band together to defeat any amendments that would weaken it. .TSCL would like to thank the following for taking time out of their busy schedules to discuss the issues that matter most to our members and supporters: Rep. Paul Cook (CA-8), Rep. John Lewis (GA-5), Justin Lawson (Legislative Assistant for Rep. Gloria Negrete McLeod (CA-35)), Claire Cozad (Legislative Assistant for Rep. Paul Cook (CA-8)), Kalina Bakalov (Legislative Assistant for Rep. Tammy Duckworth (IL-8)), and Thomas Dorney (Legislative Assistant for Rep. John Lewis (GA-5)). .To learn more about your enrollment deadlines for Medicare visit www.Medicare.gov. .TSCL enthusiastically supports the bills mentioned above, and we were pleased to see support grow for each of them this week. .According to the Congressional Research Service (CRS), for an age 65 retiree with average wages, a maximum benefit disparity of 10% would have arisen between the highest benefit under the old rules and the lowest benefit under the new rules if the 1977 assumptions had materialized. Under the economic conditions that actually arose, the disparity was 25%-two and one half times greater. .With the Medicare physician payment "doc fix" scheduled to cease at the end of February, lawmakers remain divided on where the funding will come from to extend the current level of payments to doctors. If the current "doc fix" expires, physicians' reimbursements will be reduced by a 27 percent rate. .In 1977 Social Security was going bankrupt because of a flawed benefit formula that raised benefits too quickly. That year Congress passed legislation which changed the way benefits were calculated starting with retirees who were born in 1917 and became eligible for benefits in 197The changes were major and the transition between the old and new method of calculating benefits did not work as anticipated. .When Should Single People Move to Assisted Living? .Throughout the hearing, the witnesses stressed the importance of acting quickly, before reform options run out and seniors are left with a 23% benefit cut. Despite their pleas, however, it doesn't seem like Congress will be ready to compromise on Social Security reform any time soon.