News

  • Hearings On The Hill 4 2

    "For the third year in a row, millions of older Americans will once again see no increase in their net operating Social Security payments, particularly if Medicare Part B premiums remain 4 per month in 2018, as currently forecast by the Medicare Trustees," says TSCL's Social Security and Medicare Policy Analyst, Mary Johnson. "The problem is that a substantial portion of beneficiaries currently are paying a Part B premium that is about less than that now," Johnson says. .Democrats currently have an eight-seat majority in the House, meaning 10 defections could doom the legislation. Of those 10 members, seven got contributions last cycle from PhRMA, according to Federal Election Commission records. Six received donations from AbbVie's political action committee. .As you know, the medical expense deduction is essential for older Americans who disproportionately experience high medical costs for prescription drugs, medical equipment, or services like nursing home care. Around 5 million taxpayers, most of whom are over the age of sixty-five, rely upon the tax deduction when their out-of-pocket medical costs total more than 10 percent of their annual income. … Continued

  • Legislative Update Week Ending March 9 2018

    Let's be clear about this, this is the responsibility of the Ways and Means Committee, and specifically this subcommittee. .The other big variable in health care is insuring against the risk of a big tab for long-term care. This is an area where we just don't have very good options right now. The market for private long-term care insurance doesn't function very well -- the cost of coverage has been soaring, and the number of insurance companies in the market has been shrinking. Medicaid is the country's biggest payer for nursing home bills, but you need to spend down to poverty levels to qualify and most often your care choices are limited. The other options are "self-insuring" paying out of pocket if you're very affluent, or if like many older senior Americans, you rely on family members for help. .A 2.5% COLA would boost an average monthly benefit of about ,500 by an additional ,000 over the next ten years through 2030. An emergency 2.5% COLA would boost a monthly ,500 benefit by an extra .50 (0 per year) in 2021, but it would grow to an extra .30 per month by the end of ten years. Another way to think about this, if retirees do not receive a 2.5% COLA, that would be like loosing ,000 in Social Security income over the next ten years. … Continued

TSCL Estimates 2019 Social Security COLA .TSCL is interested in hearing your comments on this issue, and whether you have ever been forced to use mandatory arbitration to resolve a disagreement. If so, did the outcome satisfy you? Please send us an email. .Cost-of-living increases are based on the nation's general rate of inflation, and the prices for the goods and services used to calculate inflation have barely budged. .When a Senate vote is tied, the Vice President, who the Constitution designates as the President of the Senate, can cast the tie-breaking vote, which is exactly what happened. .What Did My Member of Congress Mean By That? .I know from meeting with friends and neighbors across my district that Americans are ready for the truth. They are ready for solutions. And they are ready for leadership. We must not be afraid to speak – and act – boldly on their behalf. .If signed into law, H.R. 973 would repeal the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) – two federal provisions that unfairly reduce the earned Social Security benefits of millions of teachers, firefighters, peace officers, and other state or local government employees each year. .Check to see if your drug plan has a deductible, and how much the deductible should be. The number of drug plans that are charging a deductible increased in 2020, and a larger percentage of the plans is charging the full standard deductible of 5 in 2020. A deductible is the amount you pay before your coverage kicks in. Deductibles can vary in how they are applied. You may get coverage for generics from day one, but you are probably going to be required to satisfy a deductible for your Eliquis. Of particular note, enrollees in the SilverScript Choice plan paid no deductible in many regions of the U.S. last year, but they will pay as much as 5 in 2020. A similar situation affects enrollees of the Humana Enhanced plan, who paid no deductible in 201For those who chose to remain in the plan — which is now called Humana Premier Rx, they will pay a 5 deductible. .What can you do? Sign one of TSCL's current petitions.