News

  • Legislative Update Week Ending June 8 2018

    Heating and cooling assistance, the Low Income Home Energy Assistance Program (LIHEAP). .A draft of the order is circulating inside the government and was obtained by Bloomberg News. "It is critical that we reduce our dependence on foreign manufacturers for essential medicines, medical countermeasures" to "ensure sufficient and reliable long-term domestic manufacturing" that prevents shortages and supplies to "mobilize our nation's public health industrial base" when needed, says the nine-page draft. .The savings compound over time and are huge. The Congressional Budget Office estimates that chaining the CPI would cut COLAs by 2 billion from 2012021 alone and, if used in other federal retirement programs and for indexing taxes, would reduce deficits by about 0 billion over the next decade. … Continued

  • Social Security Medicare Questions January 2012

    The annual COLA increased Social Security benefits in January of 2021 by just 1.3 percent. While the lack of inflation in 2020 did somewhat improve the buying power of Social Security benefits by 2 percentage points by the month of January 2021 — from a loss in buying power of 30 percent to a loss of 28 percent — that improvement was completely wiped out by soaring inflation in February and March of this year. .Data indicates that many, if not most, retirees, leave a significant amount of Social Security income on the table because people tend to retire too soon. Consider this: even when you reach your full retirement age, that only represents the point at which you are entitled to start full benefits without reduction for starting benefits early. It does not represent the age at which you would receive the maximum benefit amount, which is age 70. The reward for work and patience can pay off significantly. Once you reach your full retirement age, Social Security benefits are increased by 8% per year (or 2/3 of 1% per month) until age 70. .Chairman Johnson said: "I know that fixing Social Security will require tough choices that will affect the lives of millions of Americans. Congress has a responsibility to the American people to make these choices. And the longer we wait, the harder it gets. If we wait until the Trust Funds are exhausted, some options won't even be available anymore. We must take this responsibility seriously. Americans want, need, and deserve nothing less." … Continued

Senator Richard Shelby (AL) – Chairman of the Senate Appropriations Committee – told reporters this week that a shutdown is possible. He said: "I'll just say that I don't think it's a good idea to shut the government down, period. But people are going to posture. And it could happen, it's happened before … I don't believe a shutdown's in my interest, the president's interest, the people's interest, either party's interest … But some people look at it differently." .It came in the mid-1950s, before health insurance for outpatient care was common, before new drugs were protected by multiple patents, and before medical research was regarded as a way to become rich. It was not patented because it was not considered patentable under the standards at the time. .There are concerns that the impact of delayed care might reach a crisis this winter if a renewed crush of COVID-19 cases collides with flu season. That could overwhelm the system in what CDC Director Robert Redfield has predicted will be "one of the most difficult times that we've experienced in American public health." .Budget Conference Meets for First Time .The Senior Citizens League (TSCL) agrees that lawmakers must pass legislation soon to address the growing costs of prescription drugs for older Americans. Comprehensive legislation like the Prescription Drug Affordability Act (S. 2023, H.R. 3513) would go a long way in making life-saving medications more affordable for Medicare beneficiaries, and we will continue to advocate for it in the months ahead. In the meantime, we are hopeful that officials at CMS will move forward slowly and thoughtfully with the Part B demonstration program to avoid harsh impacts on beneficiaries. For updates on the progress of the demonstration program, follow TSCL on Twitter or visit the Legislative News section of our website. .TSCL is carefully monitoring these recommendations and believes they would be financially punitive to seniors who are depending on Medigap supplements to provide a more secure retirement. .The income thresholds that subject benefits to taxation are based on your Modified Adjusted Gross Income, which includes half of your Social Security benefits and some tax - exempt income. The following chart illustrates the thresholds and the amount of tax on Social Security income. .Medicare Advantage plans require very careful scrutiny of potential costs. Some plans have lured seniors with low premiums and deductibles, only for enrollees to discover high undisclosed costs later. .For details, or to see if your Members of Congress will be holding town hall meetings during the summer recess, call their local offices. You can find contact information HERE.