News

  • Legislative Update For Week Ending July 13 2012

    Protecting Medicare for current beneficiaries and saving it for future generations is one of my most important responsibilities as a Member of Congress. It is no secret that demographic and economic factors will not allow us to continue the program unaltered. There are 10,000 baby boomers retiring every day, and when these programs were first enacted there were more than 40 workers for every 1 retiree. Today, that number is below 3 workers per retiree and headed towards 2 to Health care costs continue to rise much faster than inflation. In order to ensure the solvency of a program that senior citizens have come to rely on, changes must be made. The days of doing nothing, burying our heads in the sand, and pretending the status quo is sustainable are over. .This week, House and Senate lawmakers returned to Washington to resume the "lame duck" session of Congress and continued working towards a deal to keep the federal government operating past next Friday. In addition, The Senior Citizens League saw four key bills gain support in the House and Senate. .When no, or a very low, COLA occurs, a provision of law known as "hold harmless" is triggered. Under the provision, when an individual's Social Security COLA is insufficient to cover the increase in the Medicare Part B premium, the Part B premium is adjusted so that one's Social Security benefit isn't reduced from one year to the next. About 70% of Medicare beneficiaries are protected by hold harmless from rising premiums. … Continued

  • Feel Secure About Retirement 8 Things The Government Wont Tell You 2

    How frequently is this test recommended for a person of my age and medical history? .However, the ACA, also known as "Obamacare", already requires health insurers to cover pre-existing conditions. We are not sure why The President said what he did, except that his administration is in court trying to have the ACA declared unconstitutional, and maybe he anticipates a need for his order. .Sources: "Phone Scammers and ‘Tele-doctors' Charged With Preying On Seniors in Fraud Case," Victoria Knight, NPR Health News, October 7, 201"U.S. Thwarts Medicare Genetic Testing Scam," Associated Press, September 29, 2019. … Continued

Could you tell me the status of the Social Security agreement with Mexico? There hasn't seemed to be much news about it recently. If we get a new president does that mean the agreement would be dead? .Under the rule he's considering formally proposing, Trump would order reimbursement for certain Part B drugs to be tied to what's known as the International Price Index. That would mean a price cut for many medicines, since the prices drug makers charge outside the U.S. are often set by government-run health-care systems and are generally lower. Medicare doesn't use its position as a big buyer of drugs to bargain for lower prices. .Recently a journalist, familiar with my estimates of cost-of-living adjustments, contacted me for my thoughts on the topic.. What's Missing From Your Social Security Check? For Many — 7 , editor .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. .At Wednesday's hearing, several lawmakers asked Congressman Price about his plans to implement a new executive order from President Trump – signed following his inauguration on January 20th – that will dismantle parts of the Affordable Care Act (ACA). To these and other questions about the ACA's repeal, Congressman Price responded ambiguously by assuring lawmakers that he would "make certain that we have the highest-quality health care and that every single American has access to affordable coverage." .However, you don't need to read the 265-page report to understand why Medicare is going broke. Last year, Medicare spent 3 billion, but only took in 6 billion—leaving a billion deficit in just one year. With 10,000 new individuals becoming eligible each day, it's only going to get worse. .To quickly determine whether a portion of benefits is taxable, taxpayers should take their adjusted gross income, and add any nontaxable interest, plus one - half of Social Security income. If the amount is over the thresholds shown then a portion of benefits are taxable. (For more information, see IRS publication 915 Social Security and Equivalent Railroad Retirement Benefits for worksheet and help in preparing tax returns). .The sharp drop in benefits was unexpectedly steep and unduly harsh for those born from 1917 through 192According to economist Haldi, the decline in average benefit payments "was a highly unusual phenomenon, because benefits normally would be expected to increase slightly from one year to the next for people similarly situated. (7)" .CBO's current estimate of the Old Age and Survivor's Insurance fund's exhaustion date is 2031, one year earlier than its estimate was in 201If current laws generally did not change, CBO estimated the balance of the Disability Insurance fund would be exhausted in 2026.