News
-
Legislative Update January 2017
I'm Entitled to a Pension for Work as a City Cop… .Payments to the plans were cut 6 billion over 10 years under 2010 healthcare reform legislation. So far the program has remained relatively stable and continues to grow in enrollment. .CBO Releases New Budget Report … Continued
-
The Senior Citizens League Weekly Update December 6 2019
Because there was no waiver in the Covid relief bill, new legislation to waive the mandatory cuts is needed. Congress passed a similar waiver for Republicans' 2017 tax overhaul, which was passed in the same manner as the Covid-19 relief bill. .Canada Bans Sending Drugs to U.S. .The TSCL study looks at the costs of goods and services that are typically purchased by most Social Security recipients. This includes expenditures such as the Medicare Part B premium, which is not measured by the index currently used to calculate the COLA, yet is one of the fastest growing costs that retirees face. Of the 39 items analyzed, 27 exceeded the COLA while 14 were lower than the COLA. … Continued
Social Security is one of the only types of retirement income that provides a small increase annually to keep up with inflation. But in recent years, inflation as measured by the government's Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) has been almost non-existent, averaging just 1.2 percent per year since 2010, less than half the 3 percent inflation averaged the decade prior to 2010. .Medicare alone does not cover all the costs you will have. Most people also get either a Medicare supplement to cover out-of-pocket costs and Part D plan for prescription drugs, or enroll in a Medicare Advantage plan with Part D coverage. .Congress should allow Medicare to negotiate drug prices by tying U.S. prices to prices paid in other industrialized countries like Canada, Great Britain and Japan where prices are lower. — 85 percent support, 13 percent not sure, and only 2 percent opposed. .However, experts say the actual cost of living for Social Security beneficiaries is rising and their quality of life is falling. Social Security recipients have lost nearly a fourth of their buying power over the last 15 years, according to the Senior Citizens League. .The Board joined TSCL's legislative team, which includes former Congressman David Funderburk and Mrs. Betty Funderburk, on Tuesday for a day of meetings with key lawmakers and their aides. The following bills, among others, were discussed: the Consumer Price Index for Elderly Consumers CPI-E Act (H.R. 1030), the Notch Fairness Act (H.R. 155), the Social Security Fairness Act (H.R. 1795), and the Medicare Physician Payment Innovation Act (H.R. 574). .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. .The Bureau of Labor Statistics (BLS) the agency within the Department of Labor that gathers information about prices that consumers pay in order to determine the inflation rate, and therefore the COLA for next year, has let it be known that because of the virus they are going to have to estimate some of the costs of goods and services instead of finding out what they actually are. .Getting the maximum you've earned on your personal work record requires some homework and planning. You can't count on getting all of your retirement advice from the Social Security Administration. According to TSCL's Senior Survey, 77% of participants said they received no counseling from Social Security staff about the best age to start benefits, undoubtedly because people are directed to sign up for benefits online. .The diagnostics are designed to pick up signs that the human immune system has successfully fought the novel infection, a step many scientists believe will confer some measure of immunity. The AMA said given the uncertainties surrounding the tests -- including about their accuracy -- medical and safety decisions should not be made based on those assumptions.
