• Legislative Update For Week Ending November 8 2019

    In January as my specialist told me goodbye, he gave me a 10-day prescription for a simple .16 antibiotic. Did I get better? Yes, at least for now. While the antibiotic treatment was inexpensive and seems effective at curing the cough, the CT scan and bronchoscopy he ordered last year cost about ,000 before insurance. Would I have done just as well getting that prescription from my primary care doctor and skipping all the rest? Maybe, but how does the patient make that judgment? .The Senior Citizens League regularly tracks and estimates the projected annual COLA increase with the release of monthly consumer price index data from the Bureau of Labor Statistics. "Inflation data through August are confirming that the COLA will be in the vicinity of 0.2%, forecast by the Social Security Trustees, and that would trigger the "hold harmless" provision," Gibbons says. .Obamacare is not the first government program in which major implementation glitches had disastrous consequences for large numbers of beneficiaries. In 1977 changes that Congress made to the Social Security benefit formula created a major inequity in benefits that cost retirees tens of thousands of dollars in Social Security benefits over their lifetimes. The seniors affected are among the oldest and most vulnerable today. Born during 1917 through 1926, and known as "Notch Babies," they received substantially lower benefits than other seniors close to them in age with almost identical work and earnings records. The name refers to the plunging "V" notch when benefits of Notch Babies are charted on a graph. … Continued

  • Ask The Advisor How Would Earnings Under A Stolen Ssn Affect My Benefits

    Supplements and vitamins: Have you ever been surprised by a recommendation to put your dog on pet glucosamine or another joint supplement? Prices for these supplements at the vet can be up to 30% more than ordering these supplements online. Compare these prices at pet supply websites. .On top of unexpected coverage shortfalls, TSCL's 2017 annual Survey of Senior Costs indicates that homeowners' insurance was the fastest growing housing cost over the past year. In fact, since 2000, the national average homeowners premium rose 154%, a rate of about 9.6% per year! .Early data show that the vaccines may help keep people from spreading COVID-19, but we are learning more as more people get vaccinated. … Continued

More Funding Sought for Home Health Care .In many years when inflation is at more typical levels, only a small number of beneficiaries, those with the lowest benefits, are affected by the hold harmless provision. The reduced Part B premiums that they receive has minimal impact on Part B financing.[6] But in years when there is an exceptionally low COLA, the hold harmless provision is triggered more widely, and this leads to much more challenging financial impacts for both beneficiaries and for Medicare Part B funding. .TSCL agrees that doing away with the payroll tax cap would be a fair and responsible solution to the Social Security program's solvency issues. As the negotiations evolve over the coming months, we will continue to monitor them closely, and we will provide updates here in the Legislative News section of our website. .Legislation to lower the cost of prescription drugs remains one of TSCL's top priorities. Although the House of Representatives has passed a bill to accomplish that priority, Senate Majority Leader Mitch McConnell (R-KY) continues to refuse to bring the bill up for consideration. .According to an analysis by Johnson, the impact of switching to the more slowly - growing "chained" CPI would compound over time, with the deepest cuts accruing after people had spent 25 or 30 years in retirement. After 25 years, benefits would be cut by about 4.6 percent, and by 5.5 percent after 30 years. For someone with average benefits of ,245 in 2017, benefits would be 0 per month lower from using the chained CPI after 25 years, and 6 per month lower after 30 years, the analysis found. .His decorations include the Meritorious Service Medal, Air Force Commendation Medal with 1 Oak Leaf Cluster, Air Force Achievement Medal, Vietnam Gallantry Cross with Palm, Republic of Vietnam Campaign Medal, and Vietnam Service Medal with 9 Battle Stars. .The federal government negotiates prescription drug prices for Medicaid and for veterans, but it is barred from negotiating lower prices for Medicare beneficiaries. As a result, senior citizens enrolled in Part D often pay much higher prices for their prescriptions. What are you doing to correct this unfair policy? .The definition of disability under Social Security is different from other programs. Social Security only pays benefits for total disability, and none are paid for partial or a short-term disability. To determine if your husband is disabled, the Social Security Administration will examine the following: .Cutting the annual cost-of-living adjustment (COLA) by switching to a more slowly rising measure of inflation – the "chained" Consumer Price Index (CPI) – is currently one of the most popular deficit reduction proposals on the table. Backed by lawmakers on both sides of the aisle – including President Obama – proponents are calling it a small "technical correction." But "chaining" the COLA would compound over the course of a retirement and, after ten years, it would amount to an per month benefit cut for the average retired married couple – an amount that most seniors simply cannot afford to lose.