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  • A Coronavirus Caused Recession Could Eliminate Next Years Cola

    Originally, Members of Congress planned to quickly debate and approve the CR last week so that they could turn their focus towards the November 4th elections. However, President Obama made a last-minute request to authorize extra military funding for the training of rebels in Syria, and the discussion grew complicated. After much discussion behind closed doors, leaders in the House and Senate agreed to attach an amendment to the CR to provide the military with the necessary funds to complete the training mission. .Does Medicare provide coverage for eye care services or eyeglasses? .Should Congress approve the ,000 Lump-Sum Settlement, you would continue to receive your monthly Social Security benefit without any adjustment. However, as the legislation is written, you will have a choice of annual additional lump-sum payments OR an increased monthly check. … Continued

  • Best Ways Save December 2014

    The orders were issued on a Friday which left little time for analysts to review them and comment prior to the weekend. However, since then we have learned new information, we want to share with you. .The federal government shutdown that occurred from midnight December 22, 2018, until January 25, 2019, was the longest in U.S. history. It was so disruptive that an analysis from Standard and Poor's (S & P) estimated that the shut down cost the U.S. economy .6 billion. While the government shutdown was terrible for all affected, failing to raise the U.S. debt limit, also called the debt ceiling, could make the recent shut down look like a tea party. .If these aren't challenges enough, The Senior Citizens League (TSCL) recently estimated that the Social Security benefits of the first wave of baby boomers have taken a hit from the economic downturn. Due to two years of no cost-of-living-adjustments (COLAs), and lower than expected COLAs, as well as an unprecedented drop in wages over the past decade, retiring seniors' benefits based on average earnings could be impacted as much as ,000. This impact is compounded when the losses in personal retirement savings and 401(k) plans are accounted for. … Continued

At the hearing, the witnesses explained the intricacies of the prescription drug price-setting process and the drivers of rising costs. Doctor Anderson told the committee members, "Drug pricing is extremely complex … When a company has a monopoly, it sets the price that maximizes its profit and that's not the price that allows all people to get access to the drug." Doctor Howard urged Congress to "create incentives that reward providers who use medicines and technology to deliver care as efficiently as possible, while also empowering patients with the information they need to identify high-quality providers." .Single — your annual income is less than ,090 (,507.50 per month) and resources less than ,820 per year. .Members of the Finance Committee seemed receptive to Blum's suggestions on Wednesday, but it remains to be seen whether they will act in the coming months. Thus far, one of the greatest hurdles for lawmakers has been coming up with an offset to cover the cost of the repeal – the Congressional Budget Office has estimated that the price tag will be nearly 0 billion over ten years. TSCL is hopeful that lawmakers will repeal and replace the SGR by the end of this year in order to preserve seniors' access to quality medical care. As the discussions evolve over the coming months, we will continue to post updates here in the Legislative News section of our website. .At any rate, what this means is the legislation that TSCL is fighting to pass which would safeguard and improve Social Security and Medicare still has the possibility of passing this year. Most of those bills will involve new spending, which means they will need to be included in new funding legislation. .To learn more, download "When To Start Receiving Benefits" from the Social Security Administration. .The pharmaceutical industry warns the move could damage its profits and take away incentives to invent new treatments. .We at TSCL believe that if the drug companies do not offer vaccines or treatments either free of charge, at-cost, or with only a small profit, Congress must take action to reduce the cost. It is simply unacceptable for the American taxpayers to have to pay a large amount of money for something that is so desperately needed by everyone and that has disrupted, and most likely permanently changed, our lives. .Social Security Subcommittee Examines Information Technology .The latest report from the Congressional Budget Office says that after passage of recent massive tax and budget legislation, over the next decade the federal deficit is now expected to be .7 trillion higher than estimated in June of 201"To put that in context, that's close to the total amount of money that the federal government would need to cover the reserves held by the Social Security Trust Fund over the next 13 years," Johnson points out.