News

  • Weekly Update For Week Ending October 24 2020

    Some MA plans, including UnitedHealth – the largest provider of MA coverage – have already begun modifying their offerings in order to accommodate the increasing financial pressure. Last year, UnitedHealth dropped thousands of physicians from its networks, which left many enrollees doctor-less. Without much notice, they had to either find new physicians, or pay more out-of-pocket to see their former, trusted and out-of-network doctors. Because the open enrollment period had already ended, seniors were unable to change plans in order to keep their physicians and their low costs. .A major study by two economists at the Social Security Administration found that the growth is mainly due to Baby Boomers moving into disability-prone ages, growth in the number of women covered for disability benefits, and ordinary population growth. But the researchers were unable to account for 10 percent of the growth that they attributed to what they dubbed the disability "incidence rate" — meaning the growth not attributable to something else. Some members of Congress and the public are beginning to question whether overly vague eligibility criteria, and too many applicants receiving benefits that they aren't entitled to, might be to blame. .Sources: Making Work Pay Credit Was Implemented As Intended, But Resulted in Many Taxpayers Owing Taxes With Returns," Treasury Inspector General For Tax Administration, November 1, 2010, Ref. No. 2011-41-002. … Continued

  • Issues Prescription Drug Policies Track Bills Feed

    The abrupt and severe contraction in the U.S. economy caused by the coronavirus has far-reaching consequences for Social Security. Twenty million workers filed claims for unemployment between March 15, 2020 and April 17, 2020, a level that has not been seen since the Great Depression. Both the wide-scale shutdowns and layoffs, as well as provisions of the coronavirus CARES Act stimulus legislation significantly reduce the anticipated amount of payroll taxes flowing into Social Security this year. .In 2017, there was a tiny 0.3% COLA and raising Sally's benefit from ,000 to ,00But in 2017 the Medicare Part B premium took a stiff jump to Once again, because the COLA was so low, Sally's share of the Medicare premium was adjusted downward so that her Social Security benefit would not be reduced. However, virtually all of her .00 per month COLA was put toward the increased Part B premium, and today Sally pays a monthly Part B premium of 7.90. .The proposal to switch to the chained CPI has come up numerous times during past budget negotiations over lifting the federal debt limit. Most recently the proposal appeared last December in a 2016 House bill that would reform Social Security, and in an alternate fiscal year 2017 budget proposed by the Republican Study Committee. The proposal remains a key provision of debt reduction plans, because so many federal benefit programs and the tax code are adjusted using the CPI. The CPI-U has recently been proposed to index Medicaid payments in the Senate health bill. Economists have estimated that adopting the chained CPI would cut Social Security by 0 billion over ten years. … Continued

This week, two new cosponsors – Representatives Michelle Lujan Grisham (NM-1) and Mike Coffman (CO-6) – signed on to the Credit for Caring Act (H.R. 4708), bringing the cosponsor total up to five. If signed into law, the bill would provide eligible caregivers with a new tax credit equal to 30 percent of all expenses greater than ,000, and capped at ,000 per year. .Women who earn less are particularly disadvantaged because females tend to live longer compared to men but have to live on less in benefits. The Social Security Administration website tells us that the typical woman receives ,218 each month while the typical man receives ,534 per month — meaning that, on average, men receive 25% more in Social Security benefits. This means that women have much less money to cover their expenses over a longer period. .On Monday, Members of the House and Senate returned to Capitol Hill from the month-long August recess and quickly began working on a continuing resolution (CR) to fund the government past September 30th. Originally, leaders in both chambers agreed to keep the CR as "clean" as possible in order to avoid a government shutdown like last year's and to allow lawmakers to quickly resume campaign work for the looming November 4th elections. .Congress This Week .In addition to delivering petitions to Congressional offices, TSCL's Board of Trustees and legislative team – which is led by former Congressman David Funderburk and Mrs. Betty Funderburk – have met personally with more than fifty lawmakers and their top aides. Some highlights include meeting with the following Members of Congress: Rep. Eliot Engel (NY-16), sponsor of the Guaranteed 3% COLA Act (H.R. 1585); Rep. Peter DeFazio (OR-4), sponsor of the CPI-E Act (H.R. 1030); Rep. Jan Schakowsky (IL-9), Co-Chair of the Seniors Task Force; Rep. Mike McIntyre (NC-7), sponsor of the Notch Fairness Act (H.R. 155); and Sen. Marco Rubio (FL), member of the Senate's "Gang of Eight" and sponsor of comprehensive immigration reform legislation. .The Medicare Trustees estimated in their April 2020 annual report that the base 2021 Part B premium would rise by .70 (6 percent), from 4.60 to 3.30.[1] The annual report was written prior to the coronavirus national emergency and does not incorporate the effects of the coronavirus caused recession, the interaction with an extremely low COLA. .The second session of the 113th Congress is nearing its end, and The Senior Citizens League (TSCL) is pleased to report that 2014 has been a year to remember. Over the past few months, TSCL has hand-delivered hundreds of thousands of petitions to Members of Congress, urging them to support critical legislation like the CPI-E Act, the Notch Fairness Act, and the Strengthening Social Security Act. In the weeks leading up to the November elections, we sent out thousands of emails to members and supporters in an effort to help them get to know TSCL's long-time friends in Congress. .This week, The Senior Citizens League saw support grow for three key bills that would strengthen and improve the Social Security and Medicare programs if adopted by Congress. .In 2015, after a national coalition of senior advocacy groups (including TSCL) demanded action, Congress reduced the increase in Part B premiums from 9.30 per month to 1.80 per month, which was still a very high increase of 16.1 percent. The premium included a "repayment" amount that was added to monthly premiums of all beneficiaries in future years to recover the cost of the reduced premium rate in 2016 over time.