Benefit Bulletin May 2014
This week, lawmakers passed legislation to avert a government shutdown and those in the majority party continued working on legislation to reform the tax code. In addition, The Senior Citizens League (TSCL) saw several key bills gain support in the House and Senate. .Accurate earnings estimates: It's important to accurately estimate your earnings. If you worked for someone else, Social Security will need your gross earnings prior to deductions for taxes. In addition, Social Security counts when the wages are earned, NOT when they are paid. This includes accumulated sick or vacation pay and bonuses. .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
Best Ways To Save September 2019
Sixty-five percent of people surveyed by The Senior Citizens League support lifting the thresholds that subject Social Security benefits to taxation. The Senior Citizens League is seeking input from the public on this issue. To participate in a survey about Social Security and Medicare, visit . .The judge's order stops the implementation of the rule until the completion of the notice and comment process. .Use the lowest price among other economically advanced countries – the so-called "favored nations rule" - to set what Medicare pays for certain drugs administered in a doctor's office, including many cancer medications. This would apply to the most expensive medications covered by Medicare's 'Part B,' which pays for outpatient care. … Continued
This week, one new cosponsor – Congressman Bill Foster (IL-11) – signed on to the Social Security 2100 Act (H.R. 1902), bringing the total up to 16The bill, which was introduced just a couple of months ago, has more support in Congress than any other comprehensive Social Security reform bill to date. .(Washington, DC) – Low inflation is striking another blow to the long - term Social Security income of millions of older and disabled Americans, according to a new analysis by The Senior Citizens League (TSCL). "For the third time in only 7 years, older Americans will not see any Cost of Living Adjustment (COLA) increase in their Social Security benefits," says TSCL Chairman, Ed Cates. "For tens of millions of people this has a devastating impact on the long-term adequacy of their benefits," he says. The Social Security Administration recently announced that more than 59 million beneficiaries would not receive an annual COLA next year, because inflation was lower this year than it was a year ago. .The Senior Citizens League is pleased that leaders in Washington have temporarily reopened the federal government, and we are hopeful that they will act responsibly in the days ahead to ensure that it remains fully funded. We will continue to monitor the negotiations closely in the coming days, and we will post updates here in the Legislative News section of our website. .We want to reiterate here that TSCL is a non-partisan organization and we work with any member of Congress and both political parties when they support legislation that we believe is in the best interest of America's seniors. .How many members does TSCL have? .In the meantime, though, as businesses re-open and we return to a new version of normal, it's important to stay vigilant. .We may not all agree on ways to reform the system, but at the very least it is time for our colleagues on the other side of the aisle to wake up and admit that we can't continue to defend the status quo. These new reports from the Medicare trustees make that much perfectly clear. .It's unlikely that Congress will move forward on this plan or any Medicare reform proposals before a critical election, but The Senior Citizens League will keep a close eye on the negotiations. .Medicare's therapy cap on rehabilitation services, such as physical, occupational and speech therapy, has a long and sordid history in Washington D.C. The therapy cap sought to keep the Medicare budget under control but often hurt patients who need care after traumatic medical events. In practice, this cap limits access to Medicare - covered rehabilitation services. Patients are faced with either footing the bill for additional expensive care out of their own pocket or purchasing additional supplementary coverage if they can afford it.