News

  • S 110 Social Security Lock Box Act

    "The vast majority of prescription drugs [in the U.S.] are for generic, and there, the U.S. does pretty well," says Andrew Mulcahy, PhD, a senior policy researcher at RAND and the lead author of the report. "But for brand-name drugs, we pay much higher." .Please take time to participate in TSCL's much anticipated Senior Survey. TSCL's surveys have helped burst the all too common perception that Social Security benefit cuts are inevitable in order to achieve program solvency. TSCL surveys indicate that there is little support among older adults for proposals that would cut Social Security or Medicare benefits, or to replace these programs with private versions. TSCL will fight attempts to cut benefits, and that includes cutting COLAs reducing Social Security benefits or increasing Medicare costs. ."This increase is due in large part to the effects of a zero and an excessively low cost of living adjustment (COLA) in 2016 and 2017, occurring when Medicare premiums and out-of-pocket costs like prescription drugs were climbing steeply," says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League. … Continued

  • Legislative Update Week Ending September 2 2016

    Homeowners: Are You Covered For The Next Disaster? Maybe Not .Finally, one new cosponsor – Rep. Ted Yoho (FL-3) – signed on to the Social Security Fairness Act (H.R. 1795), bringing the total up to one hundred and seventeen. If signed into law, the bill would repeal the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of state and local government employees each year. .Medicare health plans also have new rules about co-pays and co-insurance. Copayments can vary drastically between MA plans, but through 2018, individual plans were required to offer all enrollees in the plan's service area access to the same benefits at the same level of cost - sharing. In 2019, MA plans have the option of imposing tiers for the cost - sharing of contracted providers, as an incentive to encourage enrollees to seek care from specific providers. Plans that utilize tiered cost-sharing must disclose tiered co-pays and co-insurance amounts to enrollees and providers, ensure that services at each tier of cost-sharing are available to all enrollees, and ensure that all enrollees are charged the same amount for the same service from the same provider. … Continued

How accurate is it? .For details, or to see if your Members of Congress will be holding town hall meetings during the summer recess, call their local offices. You can find contact information HERE. .Some deficit cutters contend that the out-of-pocket costs that Medicare beneficiaries pay will have to go up and seniors should pay more for their Medicare benefits. "This survey is powerful testimony to those who hold such beliefs," says TSCL Chairman Larry Hyland. "This survey indicates that they don't understand how much seniors already spend for their healthcare, and how many have already cut back," Hyland adds. "With the majority of seniors depending on Social Security for at least half of their income, and healthcare costs increasing several times faster than benefits, few beneficiaries can afford to pay any more than they already do for their healthcare," he notes. ."CBO's updated estimate, based on the latest economic data, continues to show that the Average Wage Index will likely drop due to the COVID-19 pandemic, and millions of Americans will receive lower Social Security benefits unless Congress acts. A medium earner in the affected cohort could lose 0 a year for the rest of their lives. While this is a smaller cut than initially estimated, Congress must still fix this flaw in the benefit formula. These are earned benefits, and already many seniors are just scraping by with the current modest benefits. That is why I will be reintroducing the Social Security COVID-19 Correction and Equity Act to fix the benefit formula and ensure it does not happen again," said Larson. .Two Social Security Reforms That Seniors Strongly Support .Last week TSCL was contacted by the office of Congressman Peter DeFazio (D-Wash.) seeking our endorsement of legislation he is introducing titled the "Social Security Stabilization and Enhancement Act." Rep. DeFazio says this bill is a fix for the looming Social Security Trust Fund insolvency. .Also this week, Senate Finance Committee Chairman Charles Grassley (R-Iowa) expressed optimism that he will gain support for the bill to lower prescription drug prices that he and Senator Ron Wyden (D-Ore.) have written. Grassley's remarks came in the light of President Trump's State of the Union speech where he thanked Grassley for his work on the drug price issue and urged Congress to get a bill passed and sent to him. ."Congressional Pay Grows 15 Times Faster Than Social Security Checks" .Sen. Sanders organized a petition drive that has garnered 400,000 signatures so far, and he is hopeful that his campaign will help prevent the adoption of benefit cuts like the "chained" Consumer Price Index (CPI). While some conferees seem to agree with Sen. Sanders, others feel that changes like increased Medicare means testing should be considered as part of a package to replace the automatic sequester cuts, which are scheduled take effect on January 15th.