News

  • What Happened To Our 2 8 Trillion Social Security Trust Fund

    Leading GOP plans impose broad spending reductions, would overhaul Medicare and cut Medicaid, while President Obama and Democrats are insisting tax increases are required, particularly on people with higher incomes over 0,000. Respondents to TSCL's Seniors Survey also tended to be more divided when asked whether they "strongly agreed" that the budget deficit should be reduced by cutting discretionary spending, or by closing tax loop holes and small revenue increases. However, when those in the middle, who "agree somewhat," are counted, a majority, 74%, agree that the budget deficit should be reduced by a fair balance of both discretionary spending cuts and modest revenue increases. .Senate Subcommittee Considers Family Leave Proposal .TSCL enthusiastically supports H.R. 1391 since it would strengthen the program without cutting benefits for seniors. We were pleased to see support grow for it this week. … Continued

  • Notch Bulletin July 2011 Advisor Feed

    It is likely the President will face a legal challenge over these actions. The U.S. Constitution gives Congress the power of the purse and any changes to taxes or spending are supposed to come from Congress. .Sources: "Income of the Population 55 or Older," 2008, Social Security Administration. "Health Care On A Budget," Kaiser Family Foundation, June 2011. .But while the temporary payroll tax cut won't affect Social Security's finances, it also won't change the need to put the Social Security system's finances on a sound footing for future generations. Over the last 30 years, proposals have been made to allow future workers to put some of their Social Security contributions into "personal" or "privatized" investment accounts – with the hope of getting more money back than they would get from Social Security as we know it today. … Continued

The Centers for Medicare and Medicaid Services (CMS) has estimated that it improperly paid .1 billion to Medicare Advantage plans in 2013 alone. Yet the plans are rarely forced to repay the money they have overcharged, or face closer government scrutiny after the audits, according to the Government Accountability Office (GAO). The GAO report said that CMS has failed to target health plans with "known improper payment risk", allowing the worst abusers to avoid scrutiny. .Sources: "Income of the Population 55 or Older," 2008, Social Security Administration. "Health Care On A Budget," Kaiser Family Foundation, June 2011. .Members of Congress receive their benefits through the District of Columbia's small business health options program (SHOP) exchange that was established under the 2010 health law. Effective January 1, 2014, Members of Congress had to give up their previous health benefits received through the Federal Employees Health Benefits Program (FEHB) and get their insurance through the exchange. However, they remain eligible for employer contributions from the federal government (i.e., U.S. taxpayers) toward coverage, just as they previously received for their FEHB coverage. .U.S. law requires that, in order to meet the requirements, ANP beneficiaries must "establish physical presence" in the United States to receive benefits. One of the easiest options is to "enter the U.S. for any part of 1 day before 30 days elapse." .Until then, TSCL will continue to monitor the movement of President Obama's immigration orders closely, since they could significantly affect the Social Security and Medicare programs if implemented. We will post updates here in the Legislative News section of our website. .There are 1,313,935 active members/supporters. .The total revenues in the sample could pay the Social Security benefits of 897 retirees, with an average monthly benefit of ,400, for an entire year. Or, that revenue could be used to provide a modest boost to the COLA of 448,560 retirees in the first year, by tying the annual inflation adjustment to the Consumer Price Index for the Elderly (CPI-E). .I believe it is imperative that we fully support programs that protect the nation's most vulnerable, and ensure that they can easily access them in their time of need. The SNAP Simplification for the Elderly Act will make great strides in that direction. .(Washington, DC) – Low inflation in recent years may be helping younger workers cut costs at the gas pump, but it isn't translating into lower costs for older and retired Americans, says The Senior Citizens League (TSCL). According to a recent study by TSCL, Social Security beneficiaries have lost 23 percent of their buying power since 2000. And another year of low cost-of-living adjustments (COLAs) is in store for 2017, according to a new TSCL analysis of consumer price index (CPI) data through August 2016.