News

  • Congressional Inaction Could Mean Lower Benefits For People Born In 1960

    (Washington, DC) – New consumer price index data through August confirm that Medicare Part B premiums will spike next year due to an extremely low cost – of – living adjustment (COLA), according to a new estimate by The Senior Citizens League (TSCL). "Low or no COLAs not only affect Social Security benefits, the amount of the annual boost also affects the amount of Medicare Part B premium people will pay in 2017," says Jessie Gibbons, TSCL's Senior Policy Analyst. "For nearly one out of three beneficiaries, Medicare Part B premiums could increase more than 22%," Gibbons says. .Unlike income tax brackets that are adjusted for inflation, the income thresholds that subject Social Security benefits to taxation have never been adjusted since Social Security benefits became taxable in 198When the law was first passed, less than 10 percent of all Social Security recipients were estimated to have incomes high enough to be affected by the tax on benefits. But today, even retirees with very modest incomes can be affected by the tax. .On Tuesday, President Donald Trump addressed the nation in his first State of the Union. In his speech, the President reflected on the strong economic growth of the country and he shared his hopes for the year ahead. The President said he plans to push .5 trillion in infrastructure investments, to secure the southern border with Mexico, and to offer a pathway to citizenship for 1.8 million immigrants known as "Dreamers." … Continued

  • Proposal Would Shift Escalating Medicare Costs To Beneficiaries

    Susan has rheumatoid arthritis and was taking Humira, a drug that would cost more than ,000 out-of-pocket if she had to purchase it through a Part D plan. Prior to starting Medicare, she paid a .00 per month co-pay for Humira through her husband's insurance. Before starting on Medicare though, Susan decided to try a less expensive older generic, Methotrexate, which costs just .00 per month through her Part D plan. .Where Can I Get Help With What Medicare Doesn't Cover? .In addition, the hold harmless provision does not apply to the premiums of Medigap supplements, Medicare Advantage, or Part D plans. Any increase in those premiums would lower the amount of Social Security benefits left to deal with other rising costs. … Continued

Medicaid is a federal and state healthcare program for low - income people. By law, the federal government pays no less than 50% of the costs, and states pay the balance. For the poorest states, the federal portion can be as high as 73%. .Congressman Mike McIntyre Receives TSCL 2012 Seniors Advocate Award One of North Carolina's staunchest advocates for seniors was recently recognized for his efforts on behalf of the nation's senior citizens. Representative Mike McIntyre (D-NC-7) received the 2012 Seniors Advocate Award from The Senior Citizens League (TSCL) one. Legislative Update: August 2012 Three Ways Congress Can Pay For Notch Reform .Surprise! A new Part D plan drug pricing program may lower costs for those who seek out the savings. Recent Congressional scrutiny on drug pricing may be spurring some drug plans to drop prices on certain drugs. A new drug plan pricing program offered by Cigna, for example, lowers the cost of insulin. In 2018, the lowest cost Part D plan charged an copay for a 100/ML of Lantus Solostar. In 2019, the lowest cost plan in my area charges copays as low as .00 - .00 for Lantus Solostar in the Cigna-HealthSpring Rx Secure — Extra Part D plan. The highest cost plan, which does not cover Lantus, charges the full price, 3.18 per 100/ML. Which would you rather have? .Based on projections in the Trustees Report, Social Security beneficiaries should expect to see a cost-of-living adjustment (COLA) between 2.4 percent and 3.0 percent in 201Medicare Part B premiums will likely increase by around .50 next year, so the typical beneficiary will pay 5.50 per month. If the estimates from the Trustees are correct, most Social Security beneficiaries will see modest increases in their net Social Security benefits next year after Part B premiums are deducted. .Will We Get A COLA in 2012? .According to a 2013 Pew Research study, women tend to take time off work to have children or care for aging family members more often than men, and then wind up with zero or only low earnings during those years. This reduces the initial Social Security retirement benefit. If a woman works entirely as a stay-at-home mom or is a full-time caregiver and doesn't take a job with an employer or is not self-employed, this means she would only rely on survivor or spousal benefits based on her spouse's work record for financial support. .TSCL is receiving a large number of comments about the impact of no COLA from retirees around the country, and recently started posting some of the stories. According to new research for TSCL, there are several important factors affecting why COLAs aren't accurately reflecting retiree healthcare costs. "First of all, the consumer price index (CPI) used to calculate Social Security and other retiree COLAs doesn't survey the spending of people age 65 and over," Cates explains. The Consumer Price Index for Workers (CPI-W) does not include changes in Medicare premiums, according to background information from the Bureau of Labor Statistics (BLS). .This week, one new cosponsor – Rep. Steve Israel (NY-3) – signed on to the Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1030), bringing the cosponsor total up to twenty-four. If signed into law, H.R. 1030 would adopt the CPI-E for the purpose of calculating Social Security cost-of-living adjustments (COLAs). Currently, COLAs are based upon the way young, urban workers spend their money – a method that underestimates the spending inflation seniors experience. H.R. 1030 would address this issue, resulting in more fair and accurate COLAs for seniors. .Only five weeks remain before the conference committee's December 13th deadline, and House and Senate appropriators are urging the conferees to settle on a top-line spending number even earlier – before the Thanksgiving recess begins on November 22nd. Sen. Barbara Mikulski (MD), Chairwoman of the Senate Appropriations Committee, said this week: "We believe that if an agreement on a discretionary spending number can be reached early, it will allow for more thoughtful and responsible spending decisions."