News
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Deficit Reduction Proposal Would Clobber Seniors With Medigap Feed
TSCL enthusiastically supports the Credit for Caring Act, the Social Security Fairness Act, and the Equal Treatment of Public Servants Act, and we were pleased to see support grow for each one this week. To receive frequent progress updates on these and other Social Security, Medicare, and family caregiving bills, follow TSCL on Twitter. .For example, RMDs for retirees who turned 70 ½ in 2019 would have been based on the value of their retirement accounts on December 31, 201At that time the Dow was 28,462 compared to 24,101 on April 1, 2020, when their RMD was due. However, the CARES Act waiver applies to this group as well as people like you who turn 70 ½ in 2020. .Shoring up the Medicare Part A Trust Fund will be more difficult. Simply cutting payments to hospitals would not be in the best interests of patients or hospitals, because many medical centers are already faltering financially. … Continued
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No Wonder Drug For Ailing Medicare Finances
Your responses to our annual Senior Surveys are a key means to helping us convince Congress to move forward on key issues. Please take our 2021 Senior Survey. .TSCL is non-partisan and we are listening! This is exactly the time when your voice counts the most. Please take time now to participate in TSCL's 2020 Senior Survey. .Sources: "Measuring Up: The Case for the Chained CPI," Rosenberg, Goldwein, Moment of Truth Project, May 11, 201"Changes in Calculating the Consumer Price Indexes," Congressional Budget Office, September 1997. … Continued
This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. .The CBO said earlier this year that if the Congress did not take action to address the shortfalls, the balances in the two trust funds would be exhausted within the next 10 years: Medicare's Hospital Insurance (HI) Trust Fund (in fiscal year 2024), and Social Security's Disability Insurance (DI) Trust Fund (in fiscal year 2026) .As prices increase, those who depend on Social Security benefits experience a decline in the buying power. In fact, according to my research, Social Security benefits have lost 30% of buying power over the past 20 years. For some retirees, that means a decline in their standard of living. .This week, lawmakers involved in talks to permanently repeal and replace the SGR revealed that a temporary pay-patch will likely be necessary. Those serving on three committees – the House Ways and Means Committee, the Energy and Commerce Committee, and the Senate Finance Committee – have successfully negotiated a legislative compromise, but they've been struggling for weeks to come up with offsets that will cover the cost of the 8.4 billion bill. .Originally, Members of Congress planned to quickly debate and approve the CR last week so that they could turn their focus towards the November 4th elections. However, President Obama made a last-minute request to authorize extra military funding for the training of rebels in Syria, and the discussion grew complicated. After much discussion behind closed doors, leaders in the House and Senate agreed to attach an amendment to the CR to provide the military with the necessary funds to complete the training mission. .With the November 4th elections now behind us, TSCL is gearing up for another action-packed year. This coming spring, the temporary "doc fix" will expire and Members of Congress will need to stave off another severe pay cut for doctors who treat Medicare patients. Failing to do so could jeopardize access to medical care for millions of senior citizens. TSCL will be advocating for a long-term solution that would repeal the sustainable growth rate formula, once and for all, and establish a permanent path forward. .Budget Cuts Taking Toll on Congressional Staffs .TSCL strongly supports legislation that would correct how COLAs are calculated to more accurately represent what seniors and the disabled must spend on their out-of-pocket healthcare costs. We strongly encourage you to contact your Members of Congress and attend local town halls during the upcoming campaign season. Help us make the case why a fair and adequate COLA is a necessity to protect Social Security benefits from losing buying power as costs rise. .The 30 percent of beneficiaries who are not protected by hold harmless include:
