News

  • Legislative Update For Week Ending January 14 2012

    In addition, U.S. Customs may be trying to clamp down on prescription drugs being shipped to American consumers from Canadian pharmacies. Although "reimportation" of prescription drugs from abroad continues to be illegal, Customs and Food and Drug Administration (FDA) officials have only intermittently seized shipments of Canadian drugs in the past. Canadian mail order pharmacies and drug-buying programs run by senior advocates reported earlier this year that the number of seizures has more than quadrupled recently. .This week, after weeks of intense negotiations, lawmakers reached a bipartisan budget deal that will fund the federal government through the remainder of the fiscal year. In addition, The Senior Citizens League (TSCL) saw one key bill gain critical support. .Members of Congress remained in their home states and districts to continue the summer recess this week. They are expected to return to Capitol Hill on Tuesday, September 6th. In the meantime, most Members of Congress will be holding town hall meetings in their home states and districts, presenting constituents with excellent opportunities to have their most pressing questions answered. TSCL encourages its members and supporters to attend these events and to voice their concerns about important Social Security and Medicare issues like inadequate cost-of-living adjustments and skyrocketing prescription drug prices. … Continued

  • Category Legislative News Page 37

    The Notch Fairness Act, which was introduced by Rep. Mike McIntyre (NC-7) in March, would provide compensation to Notch babies, or those born between the years 1917 and 192Just years before they were set to retire, these individuals learned that they would have significantly lower benefits than they originally anticipated. TSCL feels that this is an inequity that was brought about because of the Social Security Act Amendments enacted and signed into law in 1977. .As prices. Low COLA & 038; COVID-19 Costs Could Trigger A Medicare Premium Spike When the Social Security Administration announced that the cost-of-living adjustment (COLA) for 2016 would be zero, a stunning thing occurred. The Medicare Trustees projected that the monthly Part B premium would increase by an unprecedented .50 (52%) between 2015 and 2016— from 4.90 to 9.30 per month. What does this have to do with the. Retirement Benefits Could Be Subject To "Inaccurate CPI Information" TSCL is forecasting a 1.3% Social Security cost-of-living adjustment (COLA) for 202Our forecast is based on the most recent consumer price data from the U.S. Bureau of Labor Statistics (through August) and uses the same formula that the Social Security Administration uses to calculate the annual inflation boost. .TSCL is relieved that Congress has finally reached an agreement after weeks of heated negotiations. Another government shutdown like the one that occurred for sixteen days in 2013 could have resulted in delayed Social Security checks or interrupted reimbursements for doctors who treat Medicare patients. We will follow the movement of the deal very closely in the coming days, until it is signed into law by President Obama. In the meantime, follow us on Facebook or our new Twitter page for frequent updates. … Continued

This week, TSCL's Board of Trustees traveled to Washington, D.C. for its first meeting of 201The Board of Trustees includes the following members: Edward Cates, Chairman; Charlie Flowers, Vice-Chairman; Arthur Cooper, Secretary; Deborah Oelschig, Treasurer; Michael Gales, PAC Treasurer; and Larry Hyland, Liaison and President of TREThe Enlisted Association. .TSCL's Board of Trustees Meets with Members of Congress .According to the Congressional Budget Office (CBO), wages are growing faster for people who earn more than the Social Security taxable maximum than for people earning less. The CBO projects that this unequal growth in earnings will cause a decline in revenues received by the Social Security Trust Fund over the next decade. .According to consumer price index data through August, ten of the biggest price jumps for Social Security recipients over the past 12 months are illustrated in the following chart: .This week, The Senior Citizens League (TSCL) released new data that shows overwhelming support for improved Medicare coverage of essential health services. In addition, on Friday, lawmakers in the House adjourned for a five-week recess. .TSCL was stunned to learn just how big the disparity in drug prices can be. Johnson compared the highest and lowest prices of the top ten most-prescribed drugs in the U.S. using the Drug Plan Finder found on the Medicare website. The overall average cost difference between the highest - and lowest - cost plans for the top ten drugs was 3 per month. Johnson's comparison used one zip code as a control since prices vary depending on the part of the country where an individual lives, as well as between plans. In Johnson's zip code she had 23 plans to compare. .Under this bill, beneficiaries would get about more a month and the Consumer Price Index for the Elderly, or CPI-E, would be used to more accurately measure inflation to ensure Social Security benefits keep up with the rise in costs for food, rent and medicine. .The proposal is not new. Former Federal Reserve Chairman Alan Greenspan supported a similar proposal in the late 1990s. In fact, it's one of a series of technical changes to the CPI recommended by the Boskin Commission in 1996 — which said that the CPI overstates inflation and that the COLA overpays seniors by about 1.1%. The Bureau of Labor Statistics busily instituted a number of those changes from 1995 through 2000 that, by my estimates, have already cut the rate of growth in the CPI and average Social Security benefits, compared to previous CPI measurement methodology by about 5 annually over the past ten years. If Congress were to adopt the chained CPI to calculate COLA starting with the COLA payable in 2012, that would additionally cut the growth in average benefits by about ,429 over the next ten years. .In a letter of support to Rep. Kevin Brady (TX-8) – the sponsor of H.R. 711 – TSCL's Chairman Ed Cates wrote: "According to a recent study completed by TSCL, Social Security beneficiaries have lost over 20 percent of their purchasing power since 2000. Those who are subject to the WEP have undoubtedly fallen even further behind. It is now more important than ever for Congress to address the inequities that have been created by the WEP, and TSCL believes the Equal Treatment of Public Servants Act is a fair and responsible solution."