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  • How Should Medicare Negotiate Drug Costs Heres What You Told Us

    The money that is withheld due to excess earnings is not completely lost. Once you reach full retirement age, the Social Security Administration will recalculate your benefits so that over time you can recover what was withheld. To learn more about getting Social Security benefits while working, visit: https://www.ssa.gov/planners/retire/whileworking.html. .In the weeks ahead, The Senior Citizens League (TSCL) will continue to keep a close eye on the negotiations, and we will advocate for legislation that would protect and defend the earned benefits of older Americans. For progress updates, visit the Legislative News section of our website, or follow TSCL on Facebook and Twitter. ., Editor … Continued

  • New Social Security Cola Legislation Introduced

    Generic drugs account for 84% of drugs sold nationally, but only 12% of spending. .You will still need to follow guidance at your workplace. .Your required minimum distribution (RMD) is the minimum amount that you must withdraw from retirement accounts each year. Failure to do so by your deadline can result in a penalty equal to 50% of the required amount not withdrawn. … Continued

If the threshold is raised, many seniors who have saved for their entire lives and have carefully planned for retirement will suddenly be faced with hundreds of dollars in extra taxes—on top of the out-of-pocket medical costs they already pay. That's simply unacceptable. .In addition, other medical supplies, including masks, gloves, and gowns are also made, in large measure, in China. .All in all, it's too early to determine how much person-to-person transmission has occurred on plane flights. .Do not engage with these calls or provide any personal information! If you get such a call or any call demanding your Social Security or bank account number, hang up. Don't respond to any recorded message. If you tend to get such calls, consider setting your phone up to allow an answering machine or voice mail to record or prescreen your calls. .Rather than get into all the details of how this works, we will simplify it this way. The Democrats now have the majority in the Senate because Vice President Harris can break tie votes, giving a majority vote of 51 to the Democrats. .(Washington, DC) The portion of Social Security benefits that retirees spent on Medicare premiums and out-of-pocket costs climbed in 2018 for a growing number of retirees in 2018, according to a recent survey by The Senior Citizens League. About 30 percent of retirees say that premiums and out-of-pocket spending consumed one-third to one-half of their Social Security benefits. The findings represent a 7 percent jump from the 23 percent of retirees reporting healthcare costs took this portion of Social Security in 2017. .Second, the Social Security 2100 Act (H.R. 1902) gained one new cosponsor in Representative Jimmy Gomez (CA-34), bringing the cosponsor total to 16If signed into law, H.R. 1902 would strengthen Social Security benefits by improving the cost-of-living adjustment (COLA), increasing monthly benefits by 2 percent, creating a new Special Minimum Benefit equal to 125% of the poverty line, providing a tax cut to Social Security beneficiaries, applying the payroll tax to annual income over 0,000, and gradually increasing the payroll tax rate by 0.25%. .Lawmakers Avert Government Shutdown .Low-income seniors would receive assistance from Medicaid, and those with the greatest health expenses would receive additional help from the government. According to the plan's sponsors, The Congressional Health Care for Seniors Act would reduce the deficit by trillion over ten years, and it would save the average enrollee ,500 in out-of-pocket expenses each year. However, a recent poll conducted by the Kaiser Family Foundation shows that a majority of Americans – seventy percent – would prefer to keep Medicare as is, "with the government guaranteeing seniors health insurance and making sure that everyone gets the same defined set of benefits."