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H R 1983 Social Security Protection Truth Budgeting Act
TSCL believes the time has come for Congress to put the needs of U.S. senior citizens and taxpayers first. We support legislation that would ban the use of illegal earnings in determining entitlement to Social Security such as S. 95, to Prevent Social Security Credit from Being Earned without Legal Status, introduced by Senator David Vitter (LA), and "No Social Security for Illegal Immigrants Act" (H.R. 787), introduced by Representative Dana Rohrabacher (CA). .Not surprisingly, TSCL surveys and email indicated that although Medicare costs continued to grow from 2010 to 2011, many seniors were forced to cut back and forego healthcare services. This undoubtedly was a major reason why government spending on Medicare remained relatively flat. The following table illustrates responses to a question from the TSCL 2011 Healthcare Cost Survey conducted in October 2011: .Social Security is one of the only types of retirement income that provides a small increase annually to keep up with inflation. But in recent years, inflation as measured by the government's Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) has been almost non-existent, averaging just 1.2 percent per year since 2010, less than half the 3 percent inflation averaged the decade prior to 2010. … Continued
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Guidance For Traveling On Cruise Ships Changed
House Debates IPAB Repeal Bill .In September, federal agents announced the arrests of 35 people linked to a huge genetic testing scam. Individuals charged are accused of billing Medicare for more than .1 billion worth of phony genetic tests. The crackdown included telemedicine companies, doctors, and labs which worked in an elaborate scheme that preyed on people's fears of having genetic markers for cancer. .Learn how the "anchoring effect" may impact choosing the age to claim Social Security benefits here: "What's Secretly Sabotaging Your Finances? — Your Brain" … Continued
Third, one new cosponsor, Representative Jamie Raskin (MD-8), signed on to the bipartisan Fair COLA for Seniors Act (H.R. 1553), bringing the total up to twenty-seven. If adopted, this bill would better protect the purchasing power of Social Security benefits by adopting a more adequate Social Security cost-of-living adjustment (COLA). Under current law, COLAs underestimate the inflation seniors experience because they are based on the way young, working Americans spend their money. As a result, Social Security benefits have lost 33 percent of their purchasing power since 2000 according to our research. .Eliminating income taxes on Social Security benefits. Millions of middle-income Social Security recipients currently pay income taxes on a portion of their Social Security benefits. According to a recent survey of TSCL's members, 56 percent of older households pay taxes on their benefits, and that number is projected to rise in the coming years. Eliminating this income tax would provide millions of middle-income beneficiaries with much-needed tax relief. .The TSCL survey found that, to improve Medicare's finances, seniors strongly support ramping up anti-fraud efforts, and better integration of care to reduce duplications of tests, services, and expensive imaging. What do you think? Take a poll. Visit TSCL's website at . .The U.S. has already hit the most recent debt limit on March 2nd, just one month after the government shutdown ended. The U.S. Treasury is currently using "extraordinary measures" to temporarily keep the federal government funded, but the Congressional Budget Office estimates that the Treasury will run out of cash near the end of the fiscal year (September 30, 2019) unless Congress takes action. .U.S. law requires that, in order to meet the requirements, ANP beneficiaries must "establish physical presence" in the United States to receive benefits. One of the easiest options is to "enter the U.S. for any part of 1 day before 30 days elapse." .This week, progress stalled on a continuing resolution to fund the federal government past September 30th. In addition, one Senate committee held a hearing on maximizing Social Security benefits. .Susan's son Andrew requires an expensive anti-convulsive medication, Depakote Sprinkles. None of his Part D plan choices covers the brand drug — which can cost ,099 a year retail — only the generic version. But for Andrew, the generic doesn't work, and he has suffered seizures while using it. Susan learned, however, from Advisor editor Mary Johnson, that because Andrew receives Medicare Extra Help, his doctor can ask his drug plan for a coverage exception. Since starting Medicare, Andrew has received coverage for Depakote in each of his Part D plan choices. .As you know, the medical expense deduction is essential for older Americans who disproportionately experience high medical costs for prescription drugs, medical equipment, or services like nursing home care. Around 5 million taxpayers, most of whom are over the age of sixty-five, rely upon the tax deduction when their out-of-pocket medical costs total more than 10 percent of their annual income. .New Legislation to Stop Looming Cuts to Medicare Urgently Needed
