News

  • Legislative Update For Week Ending November 30 2012

    Getting the maximum you've earned on your personal work record requires some homework and planning. You can't count on getting all of your retirement advice from the Social Security Administration. According to TSCL's Senior Survey, 77% of participants said they received no counseling from Social Security staff about the best age to start benefits, undoubtedly because people are directed to sign up for benefits online. .The revenues from taxation of benefits are earmarked for funding Social Security and Medicare benefits. "Those revenues take on added importance for the 2020 tax year, as the coronavirus takes a significant toll on Social Security and Medicare payroll tax revenues," Johnson says. .In 2016 there was no COLA at all, and in 2017 the COLA was just 0.3 percent. During that time a special provision of law known as "hold harmless" protected about 70 percent of Social Security recipients from reductions to their Social Security benefits due to increasing Medicare Part B premiums. … Continued

  • Legislative Update Week Ending November 7 2014

    TSCL has been getting a steady stream of email from those of you who might potentially be affected by a sizable benefit cut when you. Ask the Advisor: June 2021 What Is Congress Doing to Prevent My Benefits From Being Reduced? .Doing nothing and allowing the Social Security recipients to go with just a 1.3% COLA, would be highly detrimental to the Social Security income of all retirees, and would not extend program solvency. TSCL is working to make Members of Congress aware of the need for providing this boost to your Social Security benefits both to strengthen your retirement income and to protect you from huge spikes in the Medicare Part B premium. .On October 22, 2014, TSCL's Executive Director was interviewed on Fox Business about the 2015 COLA announcement. … Continued

The further we read into the Affordable Care Act, the more we learn it doesn't address the issues of rising costs and access to quality care. A majority of my patients were either Medicare beneficiaries or Medicaid recipients. I understand the importance of these issues and want you to know that I am working hard to ensure everyone, especially seniors, has access to quality care and to keep the Federal Government out of the way when it comes to making the important decisions that affect your health and well being. .TSCL supports several bills that would lead to lower prices for Medicare Part D beneficiaries, and we will continue to seek out innovative solutions that would increase access to lifesaving prescription drugs. The goal remains to ensure safe and affordable medicines for older Americans. .Senate Aging Committee Holds Hearing .To pay for the boost, advocates propose lifting the payroll taxable maximum so that higher earners pay Social Security taxes on their fair share. In 2017 workers pay Social Security taxes on the first 7,200 in income. But the highest earners, like highly paid CEOs, don't pay anything on earnings over that amount. .(Washington, DC) – Low inflation in recent years may be helping younger workers cut costs at the gas pump, but it isn't translating into lower costs for older and retired Americans, says The Senior Citizens League (TSCL). According to a recent study by TSCL, Social Security beneficiaries have lost 23 percent of their buying power since 2000. And another year of low cost-of-living adjustments (COLAs) is in store for 2017, according to a new TSCL analysis of consumer price index (CPI) data through August 2016. .This week, action on Capitol Hill remained slow as the fall recess continued. .Prescription Drug Costs .There are new federal rules that require hospitals to post their pricing information online in order to give patients the information they need to make decisions about their health care. But it turns out that some large hospital systems have been using codes that prevent that information from appearing in online search results. .Negotiations on how to fund the Social Security payroll tax cut and the Medicare physician "doc fix" continued this week. House Ways and Means Committee Chairman Dave Camp (MI-4) and Senate Finance Committee Chairman Max Baucus (MT) led the 20 congressional conference committee members in talks aimed at producing a bill by the February 29th deadline.