News
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Legislative Update For Week Ending February 17 2012
For those Social Security recipients concerned about making ends meet going forward, here are some tips: .TSCL surveys have found that the overwhelming majority of seniors feel Social Security benefits should not be based on illegal work, regardless of whether taxes were withheld. With major changes looming for Social Security, TSCL supports legislation that would ban the payment of benefits based on illegal work — H.R. 787, "No Social Security for Illegal Immigrants Act," introduced by Representative Dana Rohrabacher (CA-46), and S.95, legislation to prevent Social Security credit from being earned without legal status introduced by Senator David Vitter (LA). .In addition, you will need a plan to cover the portion of costs that Medicare does not pay which are considerable, either a Medicare supplement (Medigap plan) with a Part D plan for drug coverage or Medicare Advantage plan that includes drug coverage. Spending on Medicare and health insurance premiums comprise the biggest share of healthcare costs, nearly two-thirds of overall senior healthcare spending. … Continued
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Another Record Low Social Security Cost Of Living Adjustment Is Forecast
Here are some important tips to get you started: .The most important thing people nearing retirement should consider doing is to delay starting benefits until age 70, the report says. After reaching full retirement age, benefits will grow 8 percent per year after for each year delayed, until age 70. "The higher your benefit and COLA, the easier it will be to cover Medicare Part B and other healthcare costs in retirement," Johnson says. .This week, lawmakers returned to Capitol Hill and those in the House passed legislation that will reduce prescription drug costs at pharmacies. In addition, the House Ways and Means Social Security Subcommittee met to discuss information technology within the Social Security program, The Senior Citizens League (TSCL) saw two key bills gain support. … Continued
The 2100 Act, if signed into law, would increase Social Security benefits by 2 percent, cut taxes for over 11 million seniors, increase the minimum benefit to 125 percent of the poverty line, and make COLAs more fair and accurate. It would also take measures to increase the solvency of the trust fund beyond the next seventy-five years, through the year 2100. .Throughout the hearing, the witnesses stressed the importance of acting quickly, before reform options run out and seniors are left with a 23% benefit cut. Despite their pleas, however, it doesn't seem like Congress will be ready to compromise on Social Security reform any time soon. .TSCL recently solicited membership support for three issues critical to seniors' needs: Social Security Fairness (COLA), Notch Reform, and the Anti-Totalization Agreement. Collectively, these issues represent key legislation that TSCL believes will help protect the earned benefits for our supporters and formed the focus of our grassroots Congressional petition campaign. This campaign centered on educating and calling on all U.S. Representatives to support the: Consumer Price Index for Elderly Consumers Act, Guaranteed 3% COLA for Seniors Act, Social Security Guarantee Act, Notch Fairness Act, No Social Security for Illegal Immigrants Act, and Social Security for Americans Only Act. .In February, after lawmakers allowed two government shutdowns to briefly take effect, Members of Congress finally passed the Bipartisan Budget Act of 201The massive budget deal set spending levels for two years and lifted the debt ceiling through March of next year. It came as a surprise to many in Washington – including The Senior Citizens League (TSCL) – and the agreement put an end to cycles of funding extensions that temporarily and irresponsibly funded the federal government for years. .The poll results released this week show clearly that older voters want Congress to improve coverage of these essential services. The Senior Citizens League has endorsed legislation called the Seniors Have Eyes, Ears, and Teeth Act (H.R. 508), a bipartisan bill introduced by Representative Lucille Roybal-Allard (CA-40) and 130 cosponsors in the House of Representatives. If adopted, it would expand Medicare coverage to include vision, dental, and hearing services. .Town Hall Question: Research indicates that seniors have already lost more than 30 percent of their purchasing power since 2000. What is your position on the adoption of the "chained" CPI for the calculation of Social Security COLAs? .TSCL's research has consistently found that Medicare Part B premiums rank as one of the fastest growing senior costs. Yet Medicare premium costs are not included in the measure currently used to determine the annual COLA — one major reason why COLAs do such a poor job of keeping up with rising healthcare costs. TSCL continues to lobby for a more fair and accurate COLA and supports legislation that would use a seniors' index — like the Consumer Price Index for the Elderly (CPI-E) — to determine the annual boost. .The Senior Citizens League was disappointed that the President did not comment on Social Security or Medicare during his State of the Union address, but we were pleased that he spoke about the need to reduce prescription drug prices. The President said he was proud to have helped improve "access to breakthrough cures and affordable generic drugs" by speeding up the FDA approvals process last year. That move could increase competition and bring down prices by encouraging generics to enter the market more quickly. .(Washington, DC) – Older Americans are not to blame for an exploding federal budget deficit warns The Senior Citizens League. "Congress can't cut taxes by an estimated .7 trillion and then turn around and blame rising deficits on ‘entitlements' and aging," says Mary Johnson, a Social Security and Medicare policy analyst for The Senior Citizens League.
