News

  • How Does The High Unemployment Affect Social Securitys Solvency

    No. Your understanding is correct, although there are circumstances that might explain the income. The Social Security Disability Insurance (SSDI) program's rules generally restrict beneficiaries from working and earning substantial amounts while they are receiving benefits. When beneficiaries first return to work, however, they can earn an unlimited amount for 12 months without losing their benefits under "trial work period" rules. Thereafter they can earn a specified limit, ,480 in 2013, before their benefits are eliminated. .There is already reason to worry that our deliverance from the coronavirus will cost us plenty. BARDA paid AstraZeneca up to .2 billion toward development, production, and delivery of its candidate vaccine, in order to secure 300 million doses in October. Britain paid the equivalent of million to secure 100 million doses in September — one-fifth of what the United States government agreed to pay per dose. .Drug companies deserve a reasonable profit for taking on this urgent task of creating a COVID-19 vaccine. But we deserve a return, too. … Continued

  • Issues Social Security Reform

    Currently, the funding for Social Security and Medicare programs comes from specific taxes for each program that are levied on the income of every working American. Once collected by the Internal Revenue Service, they pay for current beneficiaries. In years prior to the 2008 recession, more money was collected for Social Security and Medicare than was paid out to seniors. The surpluses were directed to their respective trust funds; however, they were never safeguarded and as result the accounts were raided of cash intended to help our seniors and replaced with Government I.O.U.s. .Throughout the remainder of the 113th Congress, TSCL will continue to urge Members of Congress to pass the Social Security Fairness Act since we believe strongly that it would go far in ensuring the retirement security of millions of seniors. To aid us in our efforts, we encourage you to contact your elected officials to request their support for S. 896 and H.R. 1795. .Unreported deaths undoubtedly rank as the Social Security Administration's number one "Most Gruesome Fraud Management Failures." Hardly a month goes by without the discovery of a grizzly new case. Usually some elderly person is found long-dead of natural causes in their own home or that of a close relative — frequently years after death. The death was never reported. Remains have been discovered tucked into beds, placed in freezers, and even sitting on toilets. Meanwhile loving sons or daughters continued to collect the deceased's Social Security checks — sometimes for decades. One Brooklyn man is serving up to 41 years for impersonating his dead mom. He donned a wig and wore her dresses to collect 5,000 in her Social Security payments and rent subsidies. … Continued

The term "Notch" refers to an unprecedented drop and disparity in Social Security benefits for persons born from 1917 through 1926 compared with those paid to other retirees with similar work and earnings records. Many of those born during the Notch period feel they have not been treated fairly and are not receiving the benefits that Congress intended. On the other hand, the Social Security Administration (SSA) and some government officials argue that those born during the Notch period are receiving the benefits that Congress intended. This brief lays out the background on the issue and the position of TREA Senior Citizens League. .Johnson conducts research on the growth of the prices of goods and services that form a major part of a retirees' household budgets. According to Johnson, Medicare beneficiaries' out-of-pocket spending for prescription drugs was a total cost of ,097 in 2020 (including what beneficiaries and their drug plans pay). "Although drug plans vary, under the standard Part D benefit, the beneficiary is responsible for about 25% of that amount, and drug plans cover the remaining 75% up to an initial coverage limit which is ,130 in 2021," Johnson says. ."It is not possible or believable that the infection control surveys accurately portray the extent of infection control deficiencies in U.S. nursing facilities," the report states. .Last Friday, MedPAC released its most recent report to Congress, and on Wednesday, Mike Miller – MedPAC's Executive Director – testified before the House Ways and Means Subcommittee on Health. At the hearing, he focused on the report's key recommendations, which include maintaining bonus payments for primary care physicians who treat Medicare patients, and increasing financial assistance for low-income beneficiaries. .TSCL's Board of Trustees Visits Capitol Hill .First, one new cosponsor – Senator Dianne Feinstein (CA) – signed on to the Patient Right to Know Act (S. 2554), bringing the total up to seven. If adopted, this bipartisan bill would ensure that pharmacists are never prohibited from telling patients when their prescriptions would be cheaper out-of-pocket than through their insurance coverage. .The deal will likely move to the House and Senate for a vote before the Presidents Day recess begins. .And, in case you had any doubts about why you need that Medicare Advantage plan in the first place, here are the general types of costs if you have Medicare Advantage plan coverage compared with having traditional Medicare with a Medigap supplement. .We cannot afford to overlook the financial risks associated both with the U.S.-Mexico totalization agreement and with any immigration plan that includes an amnesty provision at the expense of first securing our borders against additional illegal immigration.