News
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Category Issues Soical Security Notch Articles
This week, one new cosponsor – Rep. Elijah Cummings (MD-7) – signed on to the Consumer Price Index for Elderly Consumers (CPI-E) Act (H.R. 1030), bringing the bill's total up to twenty-five. If signed into law, the CPI-E Act would base the Social Security cost-of-living adjustment (COLA) upon the spending patterns of seniors. Currently, it is based upon the way that young, urban workers spend their money – a method that underestimates the spending inflation that seniors experience. A study conducted by TSCL this year found that seniors have lost 31 percent of their purchasing power since 2000 – a clear sign that the current COLA is growing too slowly. .On housing, the President instructed key officials to "consider" whether there should be a ban on evictions. He also insists that state governments pick up the tab for some of the unemployment aid. But there are serious questions about whether states have the finances to pay the additional amount. .Members of Congress remained in their home states and districts to continue the summer recess this week. They are expected to return to Capitol Hill on Tuesday, September 6th. In the meantime, most Members of Congress will be holding town hall meetings in their home states and districts, presenting constituents with excellent opportunities to have their most pressing questions answered. TSCL encourages its members and supporters to attend these events and to voice their concerns about important Social Security and Medicare issues like inadequate cost-of-living adjustments and skyrocketing prescription drug prices. … Continued
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Social Security Medicare Questions August 2011 Advisor
There seems to be a great disagreement among supporters of Notch reform over who is truly a Notch Victim. What are the facts? .A new fraud scheme designed to target seniors appears almost daily. In many cases, seniors have watched their entire life savings disappear in scams that are specifically designed to target their assets. .The Social Security 2100 Act (H.R. 1391), introduced by Representative John Larson (CT-1). Like the FAIR Social Security Act, this bill would base COLAs on the CPI-E. It would also provide a 2 percent benefit bump for the average beneficiary and create a new minimum benefit set at 25 percent above the poverty line. In addition, more than 11 million seniors would see a significant tax cut, since the bill would double the income threshold for the taxation of benefits from ,000 per individual to ,000, and from ,000 per couple to 0,000. … Continued
The Part B and Part D deductible period starts on January 1 of each year and ends on December 3If you were healthy during the year, but require doctor's services in November for the first time and the charge is 0, then you (or possibly your supplemental insurance plan) will have to pay that charge. If you don't see the doctor again until January, you start a whole new deductible period. If he charges you 0 again, then you or your insurer will pay the 0 again. .In the meantime, TSCL would like to remind you that many Senators and Representatives will attend local events or schedule town hall meetings while they are in their home states and districts, giving constituents an excellent opportunity to voice their concerns. We encourage you to approach your Members of Congress and request their support for fair cost-of-living adjustments, Notch fairness, a permanent "doc fix," and other key issues. .To get answers to questions about Extra Help and to get assistance for choosing a drug plan, call your State Health Insurance Assistance Program (SHIP). You can call 1-800-MEDICARE ( 7) for the number or check with your Area Agency on Aging. .Medicaid is popular with the public. When asked about their views on Medicaid, three-fourths (74 percent) of the public, including majorities of Democrats (84 percent), independents (76 percent), and Republicans (61 percent), hold a favorable view of Medicaid. Majorities also support increasing funding for Medicaid or keeping it the same, with 40% increasing funding, and 47% who support keeping funding at the same level. .Traveling through the beautiful farmlands of early primary states, you can find the self-proclaimed champions of socialized medicine amid the flashes of cameras on the campaign trail. If you keep driving through, you'll see the harsh reality beyond presidential candidate photo-ops. You'll see the more than 100 rural hospitals that have closed in the United States since 2010, including two in my district in the last year alone. .The SNAP Simplification for the Elderly Act will build upon the success of the USDA's Elderly Simplified Application Project by extending the SNAP recertification periods for households from 12 to 36 months if all adult household members are elderly, disabled or enrolled in Medicaid or the Medicare Savings Program. .Having income to supplement Social Security benefits that lasts your entire life, no matter how long you live, is a challenge for many seniors. If you don't get a sizable pension from an employer, but you have some savings built up in retirement accounts, "longevity insurance policies," better known as annuities, might be worth considering. .In 2018 Sally will finally get a COLA of 2% raising her monthly benefit of ,003 by .10 to ,023.However, if Medicare Part B premiums would be 4 per month in 2018 — Sally would need a COLA of .10 to cover the full cost of Part B premiums. Because Sally's benefit only increased .10, the increase in her Part B premium cannot exceed that amount. Thus Sally will continue to receive hold harmless protection and her monthly Medicare Part B premium would be adjusted downwards to 8.00 (7.90 + .10) to avoid reduction of her Social Security benefit. .One big difference between Social Security and a Ponzi scheme is the establishment of Social Security by law. Both the amount paid out and the financing coming in can be, and frequently has been, adjusted by Members of Congress. Unlike Ponzi schemes that are supported by voluntary investments, Social Security is supported by tax revenues from working individuals and taxes on a portion of Social Security benefits paid by seniors, both of which are required by law. While Ponzi promised phony payouts, Social Security payouts are established by law as well. They too, have been adjusted over the years.
