Weekly Update For Week Ending July 11 2020
For decades, Medicare and Social Security have lifted millions of people out of poverty and provided seniors with affordable, high-quality healthcare and reliable financial support. In Congress, we have a responsibility to strengthen and modernize Medicare and Social Security for today's seniors and future generations. That's why, earlier this year, I worked with my colleagues on both sides of the aisle to oppose proposals by the Center for Medicare & Medicaid Services (CMS) to cut Medicare Advantage and limit access to prescription drugs. Thanks to these bipartisan efforts, CMS reconsidered these proposals. .I'm grateful for TSCL's work as guards and advocates to help us keep up with all that affects what we have to rely on. I've often used the information from this website to contact my Congress members and the President to let them know where we stand on issues, and that as retirees, we are the largest and most consistent voting bloc that crosses all party lines. — Mr. & Mrs. Lance Colvin, WA .According to a 2013 Pew Research study, women tend to take time off work to have children or care for aging family members more often than men, and then wind up with zero or only low earnings during those years. This reduces the initial Social Security retirement benefit. If a woman works entirely as a stay-at-home mom or is a full-time caregiver and doesn't take a job with an employer or is not self-employed, this means she would only rely on survivor or spousal benefits based on her spouse's work record for financial support. … Continued
Update Totalization Is Hot Topic During Tscl Trustees Meetings On Capitol Hill Feed
This week, TSCL announced its support for two bills that would prevent a spike in next year's Medicare premiums and deductibles for approximately 30 percent of enrollees. Senate Finance Committee Chairman Ron Wyden (OR) introduced the Protecting Medicare Beneficiaries Act (S. 2148) on Wednesday with the support of nine original cosponsors. Rep. Dina Titus (NV-1) introduced similar legislation in the House called the Medicare Premium Fairness Act (H.R. 3696). .However, support in the House has gone to two bills of the bills, both of which moved forward this week: HR 5826, sponsored by Rep. Richard Neal (D-MA), Chairman of the House Ways and Means Committee; and HR 5800, sponsored by Rep. Bobby Scott (D-VA), Chairman of the House Education and Labor Committee. While they each deal with the same issue the way they try to solve it is different. .In addition to testing, passengers who are not fully vaccinated should self-quarantine for 7 days after cruise travel, even if they test negative. If they do not get tested, they should self-quarantine for 10 days after cruise travel. … Continued
The situation is affecting lower-income seniors with modest resources because states require single seniors to exhaust nearly all of their assets, including their home equity, to qualify for Medicaid. Meyer reports that "Federal Medicaid rules allow states to exempt the home from consideration of financial eligiblilty if the family is making a good faith effort to sell, but not all states do." Depending on where they live, seniors may not qualify for Medicaid if they can't sell their home. .However, there is concern that it could make it even harder to obtain supplies critical to combating the pandemic, such as personal protective equipment, testing supplies and even medications to treat coronavirus patients. .Critics of mandatory arbitration say the agreements stack the deck against long term care residents and consumers. Unlike civil suits which go to court, arbitration is private, and there's no judge or jury. There are no rules of evidence that arbitrators have to follow under the law, and there's no oversight. Critics also contend that consumers are less likely to win their cases in private arbitration and, if they do win, they tend to get much less money than they would in court. .For information about town hall meetings near you in the final days of the week-long recess, call the local offices of your elected officials. You can find contact information for your Members of Congress right here. .The Senior Citizens League believes it is time to focus on the adequacy of Social Security benefits to meet rising Medicare costs. COLAs have been insufficient to cover the Part B premium in five out of the past ten years — 2010, 2011, 2016, 2017, and 201This is a clear indication that Social Security COLA is not adequate, and not doing the job it was intended to do. . .The revenues that would be collected based on the 12.4% Social Security tax (the total paid by employee with the employer match) was ,071,619, and averaged 3,581 per CEO. .Know what debt you have. Make a list of your mortgage, any home equity line of credit (HELOC), credit cards, and any other debt. Making minimum payments may keep you out of collections, but that strategy doesn't pay off debt. Prioritize your loans by the amount of interest, and whether the interest (such as for a mortgage) is tax deductible. Work out a plan to pay off the highest non-deductible interest loan first, while making the minimum payments on other loans. As you get a loan paid off, start on the next highest interest loan. .In addition, one new cosponsor – Rep. Diane Black (TN-6) – signed on to the No Social Security for Illegal Immigrants Act (H.R. 1716). The total is now at twenty-seven. If signed into law, H.R. 1716 would prohibit unauthorized workers from receiving Social Security benefits based on work done while in the country illegally, using stolen, fake, or fraudulent Social Security Numbers. TSCL believes it would protect the integrity of the program while preventing an unnecessary and unspecified strain on the Social Security Trust Funds. .On Thursday, the House Oversight and Government Reform Committee held a high-profile hearing on recent developments in the prescription drug market. According to the committee, thirty of the top-selling drugs in the United States experienced price increases of 76 percent between 2010 and 2014 – eight times the general inflation rate.