News

  • Legislative Update Week Ending February 3 2017

    Mary: What is the "anchor effect" and could you give an example? .Both House and Senate tax reform bills index the individual tax brackets and the standard deduction to the slowly-growing "chained" Consumer Price Index (CPI). This change will result in tax increases for most individuals over time because they will reach higher tax brackets faster than they would under current law. It also increases the probability that lawmakers will apply the inadequate "chained" CPI as a cost-saving measure to other government indexes that grow with inflation, like the Social Security cost-of-living adjustment (COLA). .Understand which type works best for you. Medicare supplemental or Medigap premiums currently tend to be higher, often by hundreds of dollars, than those of Medicare Advantage Plans. In fact, there are Medicare Advantage Plans that offered hospital, doctor, and prescription drug coverage for Pre-Election Recess Continues .Social Security Can Be Fixed Without Benefit Cuts .Sources: Individuals Who Are Not Authorized To Work In The United States Were Paid .2 Billion In Refundable Credits, Treasury Inspector General For Tax Administration, July 7, 2011, http://www.treasury.gov/tigta/auditreports/2011reports/201141061fr.html . "Tax Loophole Costs Billions," transcript, Bob Segall, WTHR, 13 Indiana, May 10, 2012. premiums in 200Don't let the lure of zero premiums fool you, because you will pay in other ways, especially if you get sick. … Continued

  • Legislative Update Week Ending June 26 2015

    Fraudulent Use of Social Security Numbers Is Not Penalized .In 2017, the COLA was almost zero again, just 0.3%. The Medicare Part B premium rose to 4 for people not protected by hold harmless. Again the Part B premium of Barbara and the majority of Social Security recipients was adjusted. Barbara's monthly Medicare premium was adjusted to 8, taking every penny of her tiny COLA boost. .Medicare Reform – Protecting seniors from sudden and harsh changes to the program. … Continued

On Thursday, the House Ways and Means Social Security Subcommittee held a hearing on the state of the Social Security program's information technology (IT). Lawmakers on the subcommittee heard from three expert witnesses, including Rajive Mathur, Chief Information Officer at the Social Security Administration (SSA). .If you take one or more prescriptions, you may be shocked to learn how much you can save by comparing plans based on the prescriptions you use and switching drug plans, when you find a better match. This is an important financial habit to get into EVERY year. Drug plans routinely raise premiums and co-pays, and invariably what your best choice was in 2006 no longer holds true today. Although everyone's savings experience will be different based on the particular prescriptions they take, consider these cases from my files**: .For details, or to see if your Members of Congress will hold town hall meetings over the holiday recess, contact their offices. You can find contact information for all Members of Congress in the ACTION CENTER of our website. .Budget Moves Through Committee .A report conducted by the Congressional Management Foundation claims that this year's budget will force House member offices to trim an additional 90,000 dollars in each office. A reduction to staff positions could mean decreased constituent services as responsibilities are shifted. .TSCL opposes these cuts for a number of reasons. Medical practices in particular have been hurt by the pandemic and should not have to face lower Medicare reimbursements. .It's true that public opinion can sway votes in Congress, especially during a critical election year like this one. TSCL strongly believes that grassroots lobbying is the most effective way for the public to communicate with elected Members of Congress. Our members spoke loudly and clearly when they signed more than 1.5 million petitions, and many Congressional offices met our deliveries with surprise and gratitude. We look forward to partnering with many of those offices in the future to ensure that Congress lives up to the commitments it has made to seniors. .The 1977 legislation was intended to correct an earlier flaw in the Social Security benefit formula. That flaw raised the initial retirement benefits for future retirees too quickly. Government economists predicted at the time that, if not corrected, the initial monthly benefits of future retirees could be greater than their monthly earnings prior to retirement - far above the levels ever anticipated (2). The flawed benefit formula would bankrupt Social Security. .The plan would reform the tax code by consolidating the six existing brackets into three, and by setting the corporate tax rate at an even 28 percent. It would also make some major modifications to Medicare, including a repeal of the Sustainable Growth Rate for physician payments, and a strengthening of the controversial Independent Payment Advisory Board. The proposal also includes a plan to restore Social Security to 75-year solvency by raising the retirement age, increasing the taxable maximum wage cap, and adopting a Chained Consumer Price Index, among other things.