News

  • New Medicare Report Adequate Coverage Affordability Beyond Reach Many Low Moderate Income People

    Last week we wrote about a new bill that was expected to be introduced this week by House Speaker Nancy Pelosi (D-Calif.) that would lower prescription drug prices on some of the most expensive drugs. The plan would allow the secretary of Health and Human Services to negotiate the price of up to 250 drugs per year, and the lower prices would apply to people both with private insurance and those on Medicare. .The first session of the 113th Congress has just reached the half-way mark, and already, The Senior Citizens League (TSCL) has much to show for it. Dozens of key bills have been re-introduced, hundreds of thousands of petitions have been hand-delivered to Congress, TSCL's legislative team and Board of Trustees have met with numerous Members of Congress, and in May, we hosted a successful "Welcome Reception" for new and veteran lawmakers and their top aides. .The news came from preliminary findings from Oxford University, a co-developer of the vaccine. The research could also bring scientists closer to an answer to one of the big questions about the vaccination drive: Will the vaccines curb the spread of the coronavirus? … Continued

  • Legislative Update For Week Ending May 24 2013

    Make no mistake: millions of American families and our entire economy depend on getting mature workers the right skills for today's jobs. We need them back at work, earning good salaries, investing in their retirement, mentoring young workers and driving our economy forward. .At The Senior Citizens League, we understand the scope of the nation's deficit and we know that some small changes to Medicare may be necessary. However, we firmly believe that any adjustments should be phased in gradually, and that current enrollees and those nearing retirement should be protected from sudden changes. Congress is not likely to vote on any Medicare reform plans before the November election, but TSCL will continue to monitor the evolving negotiations. To learn more, visit our website at . .No change to 401(k)s or IRAs: Prior to enactment, concerns were high that tax reform would restrict the amount of pretax contributions working people could make to workplace retirement accounts. Congress did not do this, and the tax rules affecting these accounts, for the most part, remain the same. … Continued

Sen. Mitch McConnell (R-Ky.), who was the Senate Majority Leader at that time, refused to even bring the bill up for a vote on the Senate floor. .Your required minimum distribution (RMD) is the minimum amount that you must withdraw from retirement accounts each year. Failure to do so by your deadline can result in a penalty equal to 50% of the required amount not withdrawn. .If signed into law, H.R. 242 would require the federal government to negotiate lower drug prices on behalf of Medicare Part D beneficiaries. Currently, Medicare is prohibited from doing so despite the fact that other federal health programs are required to. If adopted, H.R. 242 would go a long way in reducing the costs of lifesaving medications for millions of Part D beneficiaries, and it would result in lower spending on prescription drugs for the Medicare program. .Super-Committee Republicans offer a 300 billion dollar tax-revenue concession. After an initial pledge not to raise taxes over the next decade, Republicans are willing to allow tax increases to help meet the 1.2 trillion dollar debt-reduction mandate by November 23rd. .This study illustrates why legislation is needed to provide a more fair and adequate COLA. To put it in perspective, for every 0 worth of groceries a retiree could afford in 2000, they can only buy worth today. To help protect the buying power of benefits, TSCL supports legislation that would provide a modest boost in benefits and base COLAs on the Consumer Price Index for the Elderly (CPI-E) or guarantee that the COLA would be a minimum of 3 percent. To learn more, visit . .With about 1 million supporters, The Senior Citizens League is one of the nation's largest nonpartisan seniors groups. Located just outside Washington, D.C., its mission is to promote and assist members and supporters, to educate and alert senior citizens about their rights and freedoms as U.S. Citizens, and to protect and defend the benefits senior citizens have earned and paid for. The Senior Citizens League is a proud affiliate of The Retired Enlisted Association. .In his speech, President Obama also spoke briefly about a new retirement savings plan that will allow citizens to invest in low-risk Treasury bonds through "myRA" accounts. Shortly after the speech, he signed a presidential memorandum directing the Treasury Department to create the new plans. While TSCL agrees that saving for retirement is crucial for younger generations, we were disappointed that the President did not propose any efforts to assist today's seniors. Most Americans over the age of sixty-five rely heavily upon their Social Security checks to meet their daily needs. However, our research shows that seniors are unable to keep up with rising costs – their expenses are rising more than twice as fast as the Social Security cost-of-living adjustment. We strongly believe that Congress should act soon to restore the purchasing power of Social Security benefits. .The 113th Congress: A New Opportunity for TSCL .Who are these beneficiaries? The Inspector General's report refers to these beneficiaries as dependents and survivors of other Social Security beneficiaries and subject to the Social Security Alien Nonpayment Provision (ANP) law. The ANP forbids payment of retirement, survivor and disability benefits when non-citizens have been outside the United States for more than 6 months. But as is so often the case with Social Security law, there are several exceptions; for example, if the non-citizen is from a foreign country that has its own social insurance system and meets certain conditions. Mexico is on the list of countries that meet the conditions of the exception.