News

  • Legislative Update For Week Ending June 27 2014

    Despite the new endorsement from the Freedom Caucus, leaders in the House do not yet have the votes needed to win passage. On Thursday evening, House Majority Leader Kevin McCarthy (CA-23) told reporters, "We've been making great progress, and when we have the votes we'll vote on it." .TSCL has been concerned that the coronavirus pandemic could accelerate the impending insolvency of the Medicare Trust Fund. With record numbers of Americans out of work, fewer payroll taxes are coming in to fund Medicare spending. At the same time, the number of beneficiaries is rising and, earlier this year, Congress accessed Medicare's reserves to fund COVID-19 relief efforts. ."If Congress adopts the more slowly-growing ?chained? CPI to calculate COLAs, that would cut the growth in average benefits, about ,100 per month today, by about ,742 over a 25-year retirement," states Larry Hyland, Chairman of TSCL. The benefit reductions compound over time, hitting the oldest the hardest. "By the time age 62 retirees with average benefits today reach age 84, their monthly benefits would be about 8 lower than they would receive using the current COLA methodology," Hyland says. … Continued

  • Q April 2018

    Sources: "Phone Scammers and ‘Tele-doctors' Charged With Preying On Seniors in Fraud Case," Victoria Knight, NPR Health News, October 7, 201"U.S. Thwarts Medicare Genetic Testing Scam," Associated Press, September 29, 2019. .Why should seniors be saddled with the ripple effect of things they don't even buy? That just doesn't make sense. .Medicare Reform – Protect beneficiaries from changes that would impose greater out-of-pocket costs to beneficiaries. … Continued

It's true that public opinion can sway votes in Congress, especially during a critical election year like this one. TSCL strongly believes that grassroots lobbying is the most effective way for the public to communicate with elected Members of Congress. Our members spoke loudly and clearly when they signed more than 1.5 million petitions, and many Congressional offices met our deliveries with surprise and gratitude. We look forward to partnering with many of those offices in the future to ensure that Congress lives up to the commitments it has made to seniors. .Medicare expects to start mailing cards in May of 2018, but be patient. The cards are going out on a "rolling basis" to different states over the next 9 months (see the chart at the end of this article.) To learn when new Medicare cards start mailing to your area, sign up for e-alerts from Medicare by visiting Medicare.gov/NewCard. .In May, I introduced bipartisan legislation with Rep. Joe Heck (NV-R). Our plan, the Medicare Physician Payment Innovation Act (H.R.5707), ends the broken physician reimbursement system and replaces it with a new, long-term plan that will treat physicians fairly, improve patient outcomes, and reduce costs in Medicare. It also sets us on a long-term path toward greater quality, value, and fiscal responsibility in Medicare and will save billions for taxpayers over the long run. This bill has been endorsed by the Fleet Reserve Association, American Academy of Family Physicians, American College of Physicians, the American Geriatrics Society, and other leading organizations. .Background Information: Roughly 56% of older taxpaying households paid income taxes on a portion of their Social Security benefits this year, even though many of them only made twice the federal poverty level in income. Question: Do you believe this is fair, and if not, what should be done about it? .In addition, the AHCA would repeal a tax created by the ACA that serves as a critical funding stream for Medicare's Hospital Insurance Trust Fund. Cutting the tax would accelerate the insolvency of the Medicare Part A Trust Fund, and in a matter of a few years, it would become exhausted. In a Washington Post opinion piece, former Acting Administrator of the Centers for Medicare and Medicaid Services (CMS) Andy Slavitt wrote, "That's clearly no accident: The program would wind up right where ‘entitlement hawks' such as House Speaker Paul D Ryan (R-Wis.) want it – in crisis. If this bill became law, the speaker would finally be positioned to change Medicare to a voucher program." .A second of the measures the President signed on Saturday aims to provide 0 in weekly unemployment aid for millions of Americans. Trump said 25 percent of this money would be paid by states, many of which are already dealing with major budget shortfalls. The federal contribution would be redirected from disaster relief money at the Federal Emergency Management Agency. Those funds are not likely to last more than two months, and the President did not say when the benefits would kick in. .Immigration reform that provides work authorization, and a pending Social Security Totalization Agreement with Mexico, could mean that a very substantial amount of earnings in the ESF file would be reinstated in the future. Because earnings are used to determine both the number of quarters of coverage worked for insured status, and is used to calculate the initial benefit, this poses a substantial liability to the Social Security Trust Fund worsening its solvency. . How much would delaying retirement benefits after my full retirement age be worth? I turn 66 in August. .Actuaries aren't in agreement over how many more years of solvency Social Security has left. The 2018 Social Security Trustees Report estimates that the Social Security Trust Fund will become insolvent in 2034, about 15 years from now. The more pessimistic Congressional Budget Office (CBO) estimates the depletion date would be two years sooner in 2032, only 13 years away. If Congress does nothing, and allows the Social Security Trust Fund to become insolvent, the program could still pay benefits, but benefits would be cut to coincide with the amount of revenue received — by about 25%.