News
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H R 867 Notch Fairness Act
My husband recently lost his job in a company re-organization. I was getting my healthcare benefits through his employer. He is 64 and I'm 6I'm still working, but coverage through my employer is much higher than we paid previously. Can you explain our options at this point? Neither one of us has started Social Security. .Representative Peter DeFazio (OR-4) introduced H.R. 1170 on February 13, 201It has since been referred to the Committee on Ways and Means. .If adopted, this key bill would improve Social Security COLAs by basing them on the CPI-E, and it would cover the cost by phasing out the payroll tax cap over the course of seven years. Together, these changes would improve the adequacy of Social Security benefits and strengthen the solvency of the Trust Funds past 2035. … Continued
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Under Law No Social Security Cola For 2011 Social Security Says Feed
High Cost of Illegal Work for Social Security Trust Fund .Under current law, Social Security benefits are adjusted annually based on changes in the consumer price index for Urban Wage Earners and Clerical Workers (CPI-W). According to the Social Security Administration, the intent of the annual cost of living adjustment (COLA) is to help protect the buying power of benefits from increases in inflation. All beneficiaries receive the same percentage of increase, but the dollar amount varies based on the amount of benefits that one receives. In years in which inflation has gone down, there can be no COLA at all. .This week, TSCL was pleased to see four key bills gain new cosponsors in the House and Senate. … Continued
This week, lawmakers in both chambers voted to approve a temporary spending bill to fund the government past September 30th. In addition, The Senior Citizens League's (TSCL's) legislative team met with several Members of Congress and their aides, and two key bills gained support. .The ongoing problem of extremely low COLAs, and double digit Part B premiums could be eliminated entirely if Congress were to focus instead on ensuring a higher net Social Security benefit. This could be done by enacting a one - time benefit boost or an emergency COLA. Either approach would satisfy the Social Security Act's hold harmless requirement that an individual's net benefit will not decrease from one year to the next as a result of an increase in the Part B premium, as specifically stated in section (§1839[f]). To prevent the triggering of hold harmless it would be very important that an emergency COLA payable in January 2021 is structured as an actual boost to the net benefits of Social Security recipients, rather than simply providing a flat emergency payment by check. .For more information about the Social Security Expansion Act (S. 427), visit the Bill Tracking section of our website. To sign a petition to Congress, click here. To stay updated on The Senior Citizens League's advocacy work on Capitol Hill, follow us on Twitter. .Initial Coverage Period: During this stage of coverage you pay a co-pay or co-insurance of 25% of the cost of covered drugs, and the plan pays 75%, up to a total of ,005 (beneficiary) and ,015 (plan). This includes any applicable deductible. Your plan's full retail drug cost, not your co-pay, is what counts toward entering the coverage gap. Your co-pays or True Out-of-Pocket costs (TrOOP) count toward exiting the coverage gap and qualifying for catastrophic coverage. .This week, lawmakers remained in their home states and districts for a week-long spring break. They are expected to return to Capitol Hill on Monday, March 2In the meantime, many Members of Congress will be hosting town hall meetings, which The Senior Citizens League (TSCL) encourages its supporters to attend. .Sources: "Crackdown Proposed To Prevent Illegal Immigrants From Obtaining Medicare," Robert Pear, The New York Times, March 3, 201"Medicare Improperly Paid Providers Millions Of Dollars For Unlawfully Present Beneficiaries," Daniel R. Levinson, Department of Health and Human Services Office of Inspector General January 2013. .Republican leaders have also begun discussing plans to reform Medicare and Medicaid next year in an effort to reduce the deficit that the .5 trillion tax bill will create. Speaker of the House Paul Ryan (WI-1) said in a radio interview on Wednesday: "We're going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit … This has been my big thing for many, many years. I think [Medicare is] the biggest entitlement we've got to reform." TSCL opposes reforms to Medicare, Medicaid, and other earned benefit programs that would result in higher out-of-pocket costs for older Americans. We will continue to advocate against benefit cuts in the months ahead. .Estimate healthcare cost increases of at least 7% to 10% a year. Recently there has been news of a slowdown in healthcare costs. While that's good, overall Medicare costs still increased about 6 percent and in the past two decades the rate of increase was often about 10 percent per year. To keep a lid on your costs, make sure you compare health and drug plans annually during the Medicare Open Enrollment period that starts October 15th and ends December 7th every year. Switch when you can find a better plan. .If adopted, this key bill would improve Social Security COLAs by basing them on the CPI-E, and it would cover the cost by phasing out the payroll tax cap over the course of seven years. Together, these changes would improve the adequacy of Social Security benefits and strengthen the solvency of the Trust Funds past 2035.
