News
-
Legislative Update For Week Ending October 25 2013
If you have recently moved and need to update your official mailing address, visit MySocialSecurityaccount, or call Social Security at 1-800-772-1213. .The age at which you start Social Security is for most people the biggest financial decision you will ever make. But according to TSCL's annual Senior Survey, 71% of survey participants said that prior to starting Social Security benefits, they had no idea of the amount of money they could expect over a typical 20 to 30 year retirement. That lack of financial information can have big consequences for your standard of living in retirement, your success at making your retirement finances last, and ultimately how much you enjoy retirement. .TSCL strongly supports adequate administrative budgets for SSA, and we hope that Congress will act with the best interest of seniors in mind when making funding decisions in the weeks ahead. We will follow the appropriations process closely in the coming weeks, and we will post updates here in the Legislative News section of our website. … Continued
-
Legal Loophole Allows Benefits Based On Illegal Work
Trustees Release Annual Social Security and Medicare Reports .Last fall, as part of his deficit reduction plan, President Obama recommended charging a 30 percent surcharge on Part B premiums to new beneficiaries who purchase Medigap polices with "near first-dollar" coverage. But do Medigap supplements encourage the over use of services? According to the Kaiser Family Foundation, about 20% of Medicare beneficiaries have a Medigap policy and they paid an average of 8 per month for premiums in 2010 (premiums vary significantly). People purchase the policies specifically to protect against the considerable costs that Medicare does not cover, and to help keep budgets in retirement years more predictable. They have modest incomes, but don't qualify for Medicaid. About 66% have incomes below ,000 and nearly 31% have incomes below ,000. .One new cosponsor – Rep. Denny Heck (WA-10) – signed on to Rep. Allyson Schwartz's (PA-13) Medicare Physician Payment Innovation Act (H.R. 574) this week, bringing the total up to thirty-three. The bill, if signed into law, would repeal and replace the faulty formula that is currently used to determine reimbursements for physicians who treat Medicare patients. … Continued
"This leaves 20 percent of survey participants who just aren't sure if their Social Security benefits will be taxable this tax season or not, more than triple the 6 percent who were uncertain about the 2019 tax year," Johnson says. The survey, which was conducted online from mid-January through February, had more than 864 participants. .Passing a short-term funding bill to keep the government operating past September 30th is the last major hurdle lawmakers must tackle before the November elections. It remains to be seen whether or not they will successfully negotiate a CR before the quickly approaching deadline. In the days ahead, The Senior Citizens League (TSCL) will keep a close eye on the talks since failing to pass a CR would likely impact Social Security beneficiaries and Medicare doctors negatively. For updates, visit the Legislative News section of our website. .The Social Security Fairness Act — Under current law, millions of teachers, police officers, and other retired public servants see their Social Security benefits cut by hundreds of dollars due to two unfair provisions of the Social Security Act: the Government Pension Offset and the Windfall Elimination Provision. TSCL has been advocating for the repeal of these two provisions for several years, and in our December meeting with the bill's sponsor, Congressman Rodney Davis (IL-13) said he will continue to work tirelessly towards its passage in the 116th .The Part D doughnut hole will be "closed" in 2020, but that doesn't mean that your out-of-pocket spending will stop. To the contrary, an unprecedented spike in Medicare's required out-of-pocket costs means you may pay more than you did in 201You will hit the former coverage gap around October or November, depending on whether the price of your prescription goes up. .Where Can I Get Help With What Medicare Doesn't Cover? .According to the results, TSCL's members and supporters would prefer to see a more permanent solution. Forty-eight percent of respondents said the DI program should tighten its eligibility requirements and conduct more continuing disability reviews to reduce fraud, and 51 percent said high wage earners should be required to pay Social Security taxes on all of their incomes. .Your doctor or provider accepts "assignment" or the Medicare approved payment, as payment in full. There may be some doctors in your area that accept assignment, but fewer do that anymore. You will need to call your doctor to find out if he or she accepts assignment. Many are charging more than the Medicare-approved amount and you or your Medigap plan will need to cover the "excess" charges. Even if you do locate a doctor who accepts assignment, a growing number of doctors are not accepting new Medicare patients. To find a doctor who accepts assignment call the customer service number of your Medigap supplement. Then call the physician to find out if he or she is accepting new Medicare patients. .A majority of seniors 65 and older who receive Social Security depend on it for at least 50 percent of their total income, and one in three beneficiaries rely on it for 90 percent or more of their total income. TSCL is fighting proposals to cut COLAs. TSCL believes that seniors could receive a more fair COLA if the government were to use a consumer price index that more closely tracked the spending patterns of seniors. .The Low-Income Home Energy Assistance Program (LIHEAP) is a federal program that can help eligible households with their heating and cooling costs. The program varies by state and, depending on where you live, can help with such things as:
