News

  • October 2012 Pr Web

    President Trump recently released a proposal that could change the way drugs are sold in the U.S. Patients have been forced to pay out-of-pocket costs based on the rising list price of drugs. The proposal would require that often-secretive discounts or rebates, received by pharmacy benefit managers from drug companies, would have to be credited at the pharmacy when a patient fills a prescription. For patients who need expensive drugs, out-of-pocket costs are likely to go down. .Last Friday, lawmakers in the House and Senate adjourned for a week-long recess. They are expected to return to Capitol Hill on Monday, May 9th. In the meantime, many Members of Congress will be attending local events and holding town hall meetings, presenting constituents with an excellent opportunity to have their most pressing questions answered. .If signed into law, H.R. 711 would repeal the Windfall Elimination Provision (WEP) – a provision of the Social Security Act that unfairly reduces the earned benefits of millions of public employees by as much as one-half each year. H.R. 711 would establish a new formula for the non-covered earnings of teachers, police officers, and other public servants, and it would modify the WEP for current retirees who are affected by it. … Continued

  • Ask The Advisor April May 2020

    It remains to be seen whether or not lawmakers in the Senate will reach an agreement before the midnight deadline. If not, the federal government will shut down like it did back in 201While not likely, an extended government shutdown could result in negative impacts for Social Security beneficiaries and doctors who treat Medicare patients. .In 1983 government economists changed the way housing costs were measured in the CPI. Housing represents almost 50% of the expenditures of people age 65 and older, and thus changes to that expenditure category tend to have a big impact. Rather than basing housing costs on some measure of home prices, after 1983 the Bureau of Labor Statistics estimated costs "based on what homeowners theoretically would pay to themselves in order to rent their own homes from themselves. The BLS then estimates how much homeowners raise the rent on themselves each month," according to Williams. .These success stories would not have been possible without the support from tens of thousands of advocates like you who are banding together with TSCL to protect Social Security and Medicare. Once again, TSCL's legislative team has big goals this year. Since the Social Security Administration (SSA) announced seniors would not receive a benefit increase in 2016, we have been advocating tirelessly for an emergency cost-of-living adjustment (COLA) for Social Security beneficiaries. Two bills that are now before Congress – the Seniors Deserve a Raise Act (H.R. 3761) and the SAVE Benefits Act (S. 2251, H.R. 4012) – would provide benefit increases of 2.9 percent and 3.9 percent, respectively. In the months ahead we will continue to encourage lawmakers to sign these bills into law because retired and disabled Americans need relief this year. … Continued

In your book The Hard Times Guide to Retirement Security you say that today's retirees need to "rethink retirement." In what ways do our ideas about retirement need changing? .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. .Millions of Americans Forgoing Health Care ."Many of the most-expensive medications are the biologic treatments that we often see advertised on television," Mulcahy said. .Earnings from work could cause Social Security to withhold your benefits. Should you be successful in your job search, your earnings could affect what you receive in Social Security benefits. Social Security will deduct in benefits for every you earn above the annual limit, which is adjusted annually and is ,720 in 201If for example, you started a job and earn ,000 in 2017, you would earn ,280 more than the exempt ,720. That means Social Security with withhold about ,140 in benefits. If you are receiving a reduced survivors monthly benefit of 5, or ,100 annually, then you would receive only 0 in benefits for the entire year of 201You would receive no benefits at all for 10 months out of the year. .The President Introduces his Plan to Lower Drug Prices . Lisa Kiplinger, USA TODAY 8:41 a.m. EDT June 27, 2016 .August Recess Continues for House Lawmakers .If these aren't challenges enough, The Senior Citizens League (TSCL) recently estimated that the Social Security benefits of the first wave of baby boomers have taken a hit from the economic downturn. Due to two years of no cost-of-living-adjustments (COLAs), and lower than expected COLAs, as well as an unprecedented drop in wages over the past decade, retiring seniors' benefits based on average earnings could be impacted as much as ,000. This impact is compounded when the losses in personal retirement savings and 401(k) plans are accounted for.