News

  • January 2 2021

    The government negotiates prescription drug prices for veterans and Medicaid beneficiaries, but it is barred from negotiating lower prices for Medicare beneficiaries. As a result, seniors enrolled in Part D often pay much higher prices than other Americans for their prescription drugs. What are you doing to correct this unfair policy? .According to the 2020 Social Security Trustees report, which does not include estimates of the impact of the coronavirus, Social Security is expected to receive about 3.3 billion in payroll tax revenues this year. "That estimate is higher than it actually will be, since it was based on just a 5 percent unemployment rate," Johnson notes. "Currently the unemployment numbers are roughly four times higher than that," she points out. In addition, the Coronavirus Aid, Relief and Economic Security Act (CARES Act), allows employers to defer the employer portion of payroll taxes in 2020 for up to two years. .While the President may have the power to postpone the collection of taxes, he does not have the power to forgive those taxes. Business leaders led by the U.S. Chamber of Commerce recently said the executive order is "unworkable" because employers are still required by law to withhold and remit payroll taxes. President Trump has said that "If I'm victorious on November 3, I plan to forgive these taxes and make permanent cuts to the payroll tax." … Continued

  • No Deficit Reduction Plan What Happens Now

    SSA Reports Massive DI Overpayments .Can You Tell Me What to Expect in The Part D Doughnut Hole? .The Social Security website, www.SocialSecurity.gov, has a number of tools and retirement planning to get you start planning, including benefit estimators. You should set up a "my Social Security" account that will give you online access to your earnings record, because you will need that for an accurate estimate of your benefit. … Continued

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. .While most in Washington acknowledge this dilemma, and House Republicans have put forward a plan to address the issue, our leaders have yet to agree upon a solution to preserve the program for seniors beyond that date, and instead are pitting each other against seniors. .This week, one member of TSCL's Board of Trustees – Legislative Liaison Joe Kluck – visited Capitol Hill to advocate for legislation that would strengthen and improve the Social Security and Medicare programs. The following key issues were discussed in several meetings with Members of Congress and congressional staff this week: ."Americans face major retirement challenges," Johnson says. The Senior Citizens .Married living with spouse — annual income is less than ,360 (,030) and resources less than ,600 per year. .In 1977 Social Security was going bankrupt because of a flawed benefit formula that raised benefits too quickly. That year Congress passed legislation which changed the way benefits were calculated starting with retirees who were born in 1917 and became eligible for benefits in 197The changes were major and the transition between the old and new method of calculating benefits did not work as anticipated. .This week, President Obama delivered his State of the Union Address, and talks to repeal and replace the sustainable growth rate (SGR) formula for doctors who treat Medicare patients seemed to have stalled. .To remedy this problem, TSCL supports Social Security "caregiving credits." These credits would be applied to a worker's Social Security earnings record to make up for years when people took time out of their working careers, and earned little or zero income, because they were caring for children, spouses, or older family members. ."While there's nothing unlawful per se about rushing to enact policy in the final days of a presidential administration (indeed, it's a time-honored tradition), executive branch officials may not circumvent clear legal requirements in the eleventh hour to achieve goals they couldn't accomplish in the normal course," he said.