News

  • Legislative Update For Week Ending January 10 2014

    If signed into law, H.R. 973 would repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) – two federal provisions that unfairly reduce or eliminate the earned Social Security benefits of millions of teachers, firefighters, peace officers, and other state or local government employees each year. .The Social Security COLA is provided to help protect the buying power of benefits when costs rise due to inflation. Yet even under the current method of adjusting benefits, Social Security benefits have lost 30 percent of buying power since 2000, according to a recent report released by TSCL. "Switching to the chained CPI would mean the erosion in the buying power of Social Security benefits would occur at faster rates than is already occurring today," says Johnson. "That puts retirees at higher risk of depleting retirement savings more quickly than expected, going into debt, and going without." According to Johnson's analysis, if the proposal were to take effect this year, average benefits would be about per month lower by 2026, and about per month lower in 20 years. .New Virus Relief Bill Could Affect Social Security and Medicare … Continued

  • Legislative Update Week Ending April 17 2015

    More headaches are on the way this tax season. For the second year in a row, the Making Work Pay Tax Credit didn't work as planned for an estimated 13.4 million taxpayers, according to the Treasury Department's Inspector General. Seniors are high on the "Most Negatively Affected List," and may wind up owing taxes and even a penalty. .As of yet the White House has not put out President Biden's plans for drug pricing legislation, or how strongly they will push for it. .with less in the household budget. To learn more, visit . … Continued

Congress should prohibit "surprise medical bills. Congress should require healthcare providers and insurers to accept fees no greater than 20 percent more than the Medicare approved fees as settlement. — 82 percent support, 15 percent not sure, and only 4 percent opposed. (Legislation passed in December would provide relief from surprise medical bills but stopped short of tying payments to prices paid by Medicare and Medicaid which are often lower than other rates negotiated by other insurers.) .The most widely-discussed proposals to revamp Social Security include raising the eligibility age, making the benefit formula less generous, and reducing the Social Security cost-of-living adjustments (COLAs). Reducing COLAs would impact the lifetime Social Security benefits of all current beneficiaries, as well as affecting future retirees. Under discussion is a proposal that would reduce COLAs by switching to a more slowly-growing, "chained" consumer price index to calculate the annual benefit boost. In fact the new tax law, recently did something similar. Indexing of income tax brackets, the standard deduction, and other parameters of the tax code for inflation was tied to a chained COLA. That means that people will pay higher taxes over time, as the standard deduction becomes less generous, while rising income would tend to push older taxpayers into higher brackets. .In addition, next week lawmakers will continue working on a spending package that will fund the federal government past December 9th. Negotiations have already begun to pass a continuing resolution (CR) that will provide short-term funding through January 201However, if those in the House and Senate fail to reach a compromise before the looming deadline, the government will shut down like it did in 2013 and Social Security beneficiaries could see negative impacts. .At the same time, prices for generic drugs were slightly lower in the U.S. than in most other nations. Specifically, the U.S. spent an average of Prices like these are not only unaffordable for most Medicare recipients, these costs also place pressure on Medicare's finances, since Medicare pays 80% of Part D costs during the catastrophic phase of coverage. Although drug plans vary significantly, the 2019 "standard Part D benefit" has a 5 deductible and a 25% co-insurance up to an initial coverage limit of ,820 in total drug costs. That includes both what consumers and their drug plans pay. Once total costs exceed that amount, beneficiaries hit the Part D "doughnut hole" or coverage gap. Under that stage of coverage, beneficiaries pay 25% coinsurance on the discounted price of brand name drugs, and 37% co-insurance for generics until they have spent a total out-of-pocket of ,100. At that point beneficiaries enter the catastrophic phase of coverage, but are still on the hook for 5% of the cost of their prescriptions. .The Senior Citizens League has prepared a new fact sheet to help the public better understand how immigration changes by executive action may affect Social Security and Medicare. Get it here. .If you are over the age of 65 and need help paying for eye care services, you might be eligible for help from EyeCare America. This organization is one of the nation's leading public service programs to provide eye care through a group of more than 5,500 volunteer ophthalmologists. According to their website, ninety percent of the care provided is at no out-of-pocket cost to the patient. .Your responses to our annual Senior Surveys are a key means to helping us convince Congress to move forward on key issues. Please take our 2021 Senior Survey. .In view of what happened and the substantial differential in pure dollar terms, TSCL believes "The Notch Fairness Act" is a fair, and even modest settlement for those who were affected by the Notch. "The Notch Fairness Act" would provide those born from 1917 through 1926 the option of choosing ,000 payable over a five year period or an improved monthly benefit. .Their new estimate says that universal masking in the U.S. could save some 130,000 lives by the end of February. .I heard that Medicare would be mailing new cards. When can I expect to get mine? .Home Sale Stalled, But Mom Needs To Move .For years I've been getting the same unwanted robo call. "Hello seniors!" a voice bellows. "Stand by to learn how you can receive a free back brace covered by Medicare." .84 cents for a generic that would have cost an average of elsewhere, according to the report from RAND Corporation, a nonprofit and nonpartisan research organization. .Some lawmakers are advocating for paid leave legislation that would require new parents to trade their future Social Security retirement benefits for twelve weeks of parental leave. This would undermine the mission of the Social Security program, increase its insolvency, and permanently cut the retirement benefits of those who take paid leave. Do you think this is a responsible proposal? .TSCL has many veterans among its supporters and no-doubt not all of them have a disability rating so they may be happy to know that Congress is considering including them in the VA's Covid-19 vaccination efforts. .I turn 61 this year and I'm still employed. I've read about waiting until my full retirement age before starting Social Security benefits. Is that 66? Do I enroll in Medicare at the same time I start Social Security? .Unfortunately, this has become standard operating procedure in Congress, regardless of who's in power. And even shutting down the government for a period of time is no longer seen to be the drastic action it once was. ."The Senior Citizens League Wants to Know: "How Much Will You Spend on Medicare?""