News

  • Weekly Update For Week Ending August 30 2020

    What you can do: Contact your Members of Congress and tell them to enact legislation that would ensure you get an emergency COLA in 202Let's tell our Members of Congress that you are asking to receive the 2.5% COLA which was already estimated in the January 2020 Social Security budget baseline by the Congressional Budget Office. You can send an email to your Congressman at www . .To find contact information for your Members of Congress, to learn about important issues affecting seniors, or to sign a petition to Congress, visit the ACTION CENTER of our website. .Members of Congress adjourned for the holiday recess this week, with the Senate returning on Thursday to resume Fiscal Cliff negotiations. … Continued

  • November 7 2020

    In his opening statement, HELP Committee Chairman Lamar Alexander (TN) said: "Our focus today is on what happens to the cost of the drug after it is approved by the FDA. We will examine the path an approved drug takes from the manufacturer to patient, and how this path affects what the patient pays … This is a discussion that affects the well-being of every American family. It is important that we work together to conduct this fact finding in a bipartisan way." .Most of the negotiators seem relieved to have reached a compromise, but it's clear that neither party is thrilled with the concessions they had to make. In a telling statement, one of the twenty conferees, Rep. Henry Waxman (CA-30), said of the deal: "It's not so bad that I would vote against it." Another conferee, Rep. Kevin Brady (TX-8) stated however, "At the end of the day, we have prevented a disruption to our economy, avoided a tax increase on working families. and ensured our local doctors will not be punished merely for treating seniors in Medicare." .Millions of people, age 65 and older, have very limited incomes, and minimal savings. In 2016, half of all Medicare beneficiaries had incomes less than ,200. A looming question is whether the official measure still provides an accurate picture of poverty. … Continued

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. .For more information on town hall meetings near you during the August recess, click HERE. For more sample town hall questions, read this month's Legislative Update HERE. .The other two actions are related to eviction protections and student loan relief. .The amount you get from Social Security may surprise you. While the amount you receive depends on how many years you worked, your earnings, and the age at which you start benefits, the average monthly Social Security payment today is about ,100. People who retire with average benefits will receive about ,200 in 2011 prior to Medicare premium deductions. With people spending as much as 25 years in retirement, people who retire today with an initial benefit of ,100 can expect to receive more than 6,800 in Social Security over 25 years. But that assumes no changes to cost-of-living adjustments (COLAs). .Support Grows for Key Bill .Most Committee Members seemed to agree with him but as the hearing went on, it became clear just how difficult the task will become under strict time constraints and in a politically-charged environment. Most Members shifted their focus toward reforming the corporate code, since it will likely be more politically feasible. Co-chair Jeb Hensarling (TX) stated, "Fundamental tax reform, even if limited to American businesses, can result in both revenues for economic growth and jobs for the American people." By lowering the corporate tax rate from 35 percent to 25 percent and by eliminating loopholes, Hensarling said that 2.1 million jobs would be created over ten years. .On Wednesday, Members of the Senate Budget Committee held a hearing called "The Coming Crisis: Social Security Disability Trust Fund Insolvency." They heard from a number of expert witnesses, including Carolyn Colvin, the Acting Social Security Commissioner. .Totalization Agreement .Patients would spend less to achieve better health. Value-based care systems focus on helping patients to recover from illness and on managing or avoiding chronic disease. The aim is to decrease the need for doctor visits, medical tests and procedures, and to reduce the amount of money spent on prescriptions while improving health. Value-based care encourages health providers to spend time on prevention-based services in order to focus more efforts on managing chronic disease with the goal of reducing costs like emergency room visits and hospitalizations.