News

  • How Would President Biden Reform Social Security

    The House-passed bill eliminates the medical expense deduction, which approximately 5 million taxpayers over the age of sixty-five rely upon when their out-of-pocket medical costs total more than 10 percent of their annual income. The elimination of this deduction would be a catastrophic financial loss for those who find themselves in need of costly in-home or nursing home care. Congressman Kevin Brady (TX-8) – the chairman of the bicameral conference committee – said this week that he hopes to keep the deduction in place, but discussions remain up in the air. .What do you think? Seniors are invited to participate in TSCL's annual 2014 Senior Survey. For a free 8-page special issue of TSCL's Best Ways to Save, send to cover postage and handling with your name and address to The Senior Citizens League, 1001 N. Fairfax St. 101, Alexandria, VA 22314. .About one in five older and disabled Medicare beneficiaries has income so low that their state Medicaid programs pay some or most of their Medicare costs. That includes Medicare Part B premiums and out-of-pocket costs, as well as services that aren't covered by Medicare, such as vision, dental and nursing home care. … Continued

  • Social Security Medicare Questions July 2014

    Congress Averts Government Shutdown .To make the COLA more fair and accurate, TSCL believes that Congress must fully implement the CPI-E, and use it to provide a more realistic annual benefit boost. We support a number of bills before Congress that would do just that, including the CPI-E Act (H.R. 1030), the Guaranteed 3% COLA Act (H.R. 1585), the CPI for Seniors Act (H.R. 2154), and the Social Security Guarantee Act (H.R. 1275). Each of them would go a long way in ensuring that seniors receive the retirement security they deserve. .As your mom moves through stages of Alzheimer's, she will need more care over time. The medicines used to treat Alzheimer's only control symptoms, such as memory loss and confusion, but cannot cure the disease. The symptoms inevitably will get worse and because of this, eventually your mom will need more help than you can supply at home. … Continued

Regrettably, this uncertainty persists during the on-going deficit reduction discussions. Those who received services paid for by Medicare will not be affected by the automatic budget cuts due to the failure of the Joint Select Committee on Deficit Reduction to reach a compromise. Nevertheless, I am concerned that providers are not also shielded from those cuts. That is why I am co-sponsoring H.R. 3519, legislation to protect Medicare providers from the 2 percent cuts that were part of the Budget Control Act of 2011. .Throughout the hearing, Barthold urged the Committee Members to address the corporate and individual tax codes. For both, he recommended total overhaul. .After a much-anticipated election and an action-packed lame-duck session, the 113th Congress has officially begun and The Senior Citizens League (TSCL) is gearing up for a busy year. Although the November election did not drastically alter the makeup on Capitol Hill, TSCL is expecting many new successes and challenges to arise. With the election finally behind them, lawmakers are able to focus on some of the complex policy issues that sit high on their agendas, like deficit reduction, immigration reform, and comprehensive tax reform. .It is believed that Trump issued the executive orders because a drive to enact major legislation this year stalled in Congress. Although Trump has told Republican senators that lowering prescription prices is 'something you have to do,' many remain reluctant to use federal authority to force drug makers to charge less. .Shop around regularly. You can save hundreds of dollars a year in premiums by shopping around. Some state insurance department websites publish rate comparisons for standardized coverage that can help you find the best deals. Another way to compare is to shop from an independent insurance agent who sells from multiple carriers. You can also try online sites like Insure.com, NetQuote.com and SelectQuote.com. When considering a less expensive insurer, consider getting auto coverage from the same company for savings of up to 30 percent. .One paid family leave proposal discussed at Wednesday's hearing would negatively impact the future of the Social Security program if adopted. It would allow parents to claim up to 12 weeks of early Social Security benefits as a form of paid family leave following the birth or adoption of a child. To offset the cost, individuals would be required to delay the collection of their Social Security benefits in retirement. Those who take twelve weeks of paid family leave would see their full eligibility ages in retirement increase by as much as twenty-five weeks. .Before doing anything else make sure you have a realistic budget, and think long term. You want your income and savings to be adequate as long as possible, 30 years or even longer is not unrealistic for someone your age. In developing a budget, look back over at least three years to include large expenditures for periodic home maintenance and repairs, transportation, medical costs and other large costs. Include what you pay in taxes. Once you get an expense figure, allow for at least 3% per year for inflation. Then tally up your income and assets, including the value and expected income from retirement accounts and pensions, if any. .SSA Announces 2019 Social Security COLA of 2.8 Percent .Over five million Americans are currently living with Alzheimer's disease, and each year thousands more are diagnosed with this painful, heart-rending illness. Most of us know someone—a family member, coworker or friend—suffering from Alzheimer's or dementia. With the number of Alzheimer's patients expected to skyrocket in the coming decades, we must continue to press forward, offering support for family members and caregivers, while developing better and more effective treatment options as we work toward a cure for this terrible disease.