Legislative Update Week Ending November 18 2016
The Medicare Physician Payment Innovation Act (H.R. 574) also gained a cosponsor – Rep. Pete Gallego (TX-23) – this week, bringing the total up to thirty-five. If signed into law, H.R. 574 would repeal and replace the SGR, bringing increased stability to the Medicare program for both physicians and beneficiaries. .TSCL's Endorsement Sought for Social Security Bill .Of particular importance is the portion of income that seniors and the disabled must spend on each particular category. Under the CPI-W, out-of-pocket medical costs are weighted or assumed to account for only 5.6% of total expenditures. National surveys indicate that Medicare beneficiaries spend far more. The Kaiser Family Foundation reports that median out-of-pocket health care spending as a share of income for Medicare beneficiaries was about 16.2% by 2006. … Continued
H R 111 Protect Trust Funds Public Debt Limit
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? .Until then, TSCL will continue to monitor the movement of President Obama's immigration orders closely, since they could significantly affect the Social Security and Medicare programs if implemented. We will post updates here in the Legislative News section of our website. .Congressional leaders have already given up on the idea of fully funding the government for the entire 2022 fiscal year and instead the current plan is to pass a "continuing resolution" (CR) that will fund the government at current levels until December The idea is to give them more time to craft the legislation needed to fully fund the new fiscal year. … Continued
Two new pieces of legislation in addition to H.R.1565 (see above) have been introduced to stop these kinds of scams. .On Tuesday, Alan Simpson and Erskine Bowles released a revised version of their "Moment of Truth" report, which was drafted by the National Commission on Fiscal Responsibility and Reform in 20In the new framework, the two recommend averting the sequester – the billion in automatic cuts that are scheduled to hit in just one week – and replacing it with .4 trillion in deficit reduction. .IMPORTANT: We Need Your Help .Please visit our Notch Reform Section for the most up-to-date information. .This past week, Reps. Jerrold Nadler (NY-8) and Richard Neal (MA-2) signed on to H.R. 1332, the Social Security Fairness Act. The total is now at 14Sen. Tom Udall (NM) signed on to S. 2010, the Social Security Fairness Act, bringing the total to two. .Both bills would stop a premium hike of nearly 50 percent that's scheduled to hit millions of beneficiaries in January. They would also prevent a deductible increase of nearly , from 7 to Most Medicare beneficiaries will not be affected by the increases due to the "hold harmless provision" that protects them in years when premium increases are large enough to reduce their monthly Social Security checks. Since seniors are expected to receive no cost-of-living adjustment (COLA) next year, the premium rates for around 70 percent of beneficiaries will remain unchanged from this year's. .To stay updated on the progress of prescription drug legislation, check back every Friday morning to read our weekly Legislative News summary. .Doughnut hole or coverage gap stage: 5.76. .Sources: Individuals Who Are Not Authorized To Work In The United States Were Paid .2 Billion In Refundable Credits, Treasury Inspector General For Tax Administration, July 7, 2011, http://www.treasury.gov/tigta/auditreports/2011reports/201141061fr.html . "Tax Loophole Costs Billions," transcript, Bob Segall, WTHR, 13 Indiana, May 10, 2012.