News

  • Benefit Bulletin October 2020

    Plan for health changes as you age. What are the chances of developing a chronic condition, like asthma, diabetes or high blood pressure later in life? It's a good idea to set aside a portion of your retirement savings for healthcare emergencies and health changes as you age. One way to figure this is by using the out-of-pocket maximum limits on your health plan and Part D coverage. For example, having an emergency healthcare account of at least ,450 set aside for a senior in reasonable health in 2013 is a smart idea. If you are in a health plan that has a maximum annual out-of-pocket limit, you will want to try to have at least that much set aside every year (that may be about ,700 in 2013, for example). Your Part D out-of-pocket maximum in 2013 is ,750. .We were also told that the Congressman is working on further legislation to raise benefits and further extend solvency which he plans on introducing later this year. We will report on that new bill whenever it is introduced. .Obama's new policy for illegal immigrants was recently announced and implemented without Congressional approval. Now questions are growing about the potential for widespread fraud — and with good reason, it seems. Less than two months after the government announced some 800,000 illegal immigrants would qualify for work authorization under the program, immigration policy analysts now say that more than twice that number, nearly 1.8 million, will qualify. The U.S. Department of Homeland Security appears to be accepting a surprisingly wide variety of evidence and supporting documents from applicants, hoping to prove that they qualify to stay in the U.S. and for temporary work authorization. … Continued

  • Millions Of Retirees Spent 5000 On Just Medicare Premiums In 2019

    The Three Biggest Expenses to Cut In Retirement — Most seniors spend more time clipping coupons to save a few dollars when they do their weekly grocery shopping than they ever spend cutting these three biggies. Spend more time on these and you'll have more money for groceries and everything else. .The new scams were quick to arise, and deft in their effectiveness. For example, in March of last year, the Social Security Administration posted an alert about a scam claiming that economic impact stimulus payments may be suspended or decreased due to office closures related to the COVID-19 pandemic, which was a lie. .Members on both sides of the aisle seemed eager to tackle corporate tax reform, but there was a clear divide on the panel when it came to the Social Security payroll tax holiday. Co-chair Patty Murray (WA) and Senate Minority Whip Jon Kyl (AZ) both seemed skeptical about President Obama's recent proposal to cut the payroll tax in half for both employees and employers next year. When asked whether short-term tax cuts typically succeed in stimulating the economy, Barthold responded "yes" without hesitation. However, he said that such short-term cuts for employers generally do not lead to job creation. … Continued

A number of Social Security recipients told their stories to the members of the subcommittee and explained the problems they face, as well as their desires for improvements to the program. .According to The Hill, the legislation would, "… completely change the way the U.S. pays for drugs, saving the federal government more than 6 billion over 10 years, according to an analysis by the nonpartisan Congressional Budget Office (CBO). .TSCL would like to thank Reps. Mike McIntyre (NC-7), G.K. Butterfield (NC-1), and Charles Gonzalez (TX-20) for taking the time to discuss the issues that are most important to our members and supporters. TSCL also met with Jeremy House, Legislative Assistant to Rep. Butterfield, Conrad Risher, Legislative Assistant to Rep. Gonzalez, Tommy Walker, Legislative Assistant to Rep. Diana DeGette (CO-1), Rebecca Shaw, Legislative Assistant to Rep. Chris Gibson (NY-20), and Nathaniel Ferguson, Legislative Assistant to Rep. Scott Rigell (VA-2). .This week, five new cosponsors signed on to the Social Security Fairness Act (S. 896 and H.R. 1795), bringing the total up to thirteen in the Senate and ninety-two in the House. The new cosponsors are Sen. Jeff Merkley (OR) and Reps. Charles Boustany, Jr. (LA-3), Thomas Massie (KY-4), Bill Shuster (PA-9), and Barbara Lee (CA-13). If signed into law, H.R. 1795 would repeal two provisions of the Social Security Act that unfairly reduce the earned benefits of millions of state and local government employees each year. The provisions – the Windfall Elimination Provision and the Government Pension Offset – prevent dedicated public servants from receiving the retirement security they have earned. .Try going back to work or getting a second job. — Reducing costs is often the harder choice, because costs tend to grow with age. You may want to consider getting a job that could provide extra income and perhaps help with health benefits. Even if you must stay at home as a caregiver, you may want to consider providing adult day care to another individual if your home is set up for that, or to find a job that allows you to work online from home. .Although the President did not offer specific policy recommendations, he did renew his commitment to lowering prescription drugs costs. He said: "One of my greatest priorities is to reduce the price of prescription drugs. In many other countries, these drugs cost far less than what we pay in the United States. That is why I have directed my Administration to make fixing the injustice of high drug prices one of our top priorities. Prices will come down." .Congress has a number of options to pay for the higher benefits that drew strong support in our 2020 Senior Survey: .Early Efforts to Hold Congress to Its Promise Leads to a Notch Commission .You don't need to be a doctor to understand that Medicare-for-all would mean access to quality health care for none. So, as presidential candidates continue their road trip to ruin for rural America, remember that the hollow promises of a trillion government-run proposal would disproportionately affect the families who work every single day to feed and clothe you and your families.