News
-
Congress Rolls Back Medicare Part B Increase Of 52 But No Emergency Cola
The Consumer Price Index for Elderly Consumers (CPI-E) Act — Congressman John Garamendi (CA-3) introduced the bipartisan CPI-E Act in the 115th Congress, and in TSCL's December meeting with his office, he committed to re-introducing the bill once again in 201If adopted, his bill would enhance Social Security benefits by basing cost-of-living adjustments (COLAs) on an inflation index specifically for seniors. Under current law, COLAs are based on the way young, urban workers spend their money. .We at TSCL believe that if the drug companies do not offer vaccines or treatments either free of charge, at-cost, or with only a small profit, Congress must take action to reduce the cost. It is simply unacceptable for the American taxpayers to have to pay a large amount of money for something that is so desperately needed by everyone and that has disrupted, and most likely permanently changed, our lives. .Rep. Phil Roe (TN), who served as a witness at the Energy and Commerce hearing, introduced legislation in January to repeal the IPAB. The bill currently has bipartisan support and more than 160 cosponsors. While some, including President Obama and his Fiscal Commission, have proposed strengthening the authority of the IPAB, most at this week's hearings expressed their support for legislation that would eliminate it. … Continued
-
Dont Make This Common Retirement Mistake Medicare Often Takes One Third To One Half Of Your Social Security Benefit
Your required minimum distribution (RMD) is the minimum amount that you must withdraw from retirement accounts each year. Failure to do so by your deadline can result in a penalty equal to 50% of the required amount not withdrawn. .How do you envision your perfect day in retirement? Are you the type that needs to be busy with work and projects to feel fulfilled, or do you look forward to spending time puttering around on your own, traveling or just enjoying leisure? Note how you like to spend your time. .This week, The Senior Citizens League released its final estimate for the 2019 Social Security cost-of-living adjustment (COLA), and four key bills gained support in Congress. … Continued
Call your local State Health Insurance Assistance Program (SHIP) and ask for free counseling from a Medicare counselor. You can find local contact info here: https://www.shiptacenter.org. Many of these programs operate through local agencies on aging or senior services departments. Counselors can help you over the phone from home. .Three Key Senate Bills Gain Support .In fact, according to TSCL's annual survey of senior costs, Social Security benefits have lost more than one-third of their buying power since 2000 because COLAs underpay recipients. TSCL supports using the CPI-E to determine COLAs that better take into account the spending patterns of older people. For well over a decade, TSCL has lobbied Congress to make the COLA more fair and accurate. TSCL is mobilizing seniors nationwide to contact Members of Congress. .We urge you to contact Members of Congress and ask them to co-sponsor "The Notch Fairness Act." Suggest that by cutting the rate of improper payments due to waste, fraud and abuse, your elected lawmakers can correct the most improper payment of all, the disparity in benefits caused by the Notch and erroneous government assumptions. .The TSCL survey found that, to improve Medicare's finances, seniors strongly support ramping up anti-fraud efforts, and better integration of care to reduce duplications of tests, services, and expensive imaging. What do you think? Take a poll. Visit TSCL's website at . .You may be surprised to learn that Members of Congress, and their congressional staff, receive their employer-sponsored insurance through Obamacare. Their health benefits would also be affected by an Obamacare repeal as well — but unlike your sister and millions of other Americans, Members of Congress already have high quality health insurance to replace their Obamacare plans. In fact, the premium costs of some Members of Congress could go down as they transition back to getting insurance through the Federal Employees Health Benefits Program (FEHB). .This week, a House committee held a high-profile hearing on recent developments in the prescription drug market, and The Senior Citizens League (TSCL) saw support grow for one key bill. .This week, four new cosponsors signed on to Rep. Schwartz's (PA-13) Medicare Physician Payment Innovation Act (H.R. 5707), bringing the total up to eighteen. The new cosponsors are: Reps. Ed Perlmutter (CO-7), Gerald Connolly (VA-11), Mazie Hirono (HI-2), and Paul Tonko (NY-21). .What Did My Member of Congress Mean By That?
