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  • 2015 Legislative Update For Week Ending October 31 2015

    Last year, I introduced bipartisan legislation to halt this obscure tax increase on seniors. Since then, we've worked hard to build broad support inside of Congress and out. The bill has the endorsement of a list of taxpayer and seniors advocacy groups and passed the U.S. House of Representatives on a bipartisan vote on September 13, 2016. .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. .Please visit our Notch Reform Section for the most up-to-date information. … Continued

  • Category Tips For Seniors Healthcare Page 3

    UnitedHealth, the largest provider of Medicare Advantage plans, announced in mid-November that they would be dropping thousands of doctors from their networks in at least ten states. By the end of 2014, the company expects its network of doctors to be 85 percent to 90 percent of its pre-Obamacare size. .Noting the vast and unprecedented danger that the coronavirus presents to the elderly and people with disabilities, patient advocates described the lack of inspections as a shocking oversight. .Do COLAs overpay seniors? Ask TSCL Chairman, Larry Hyland. "The idea is hogwash," he says. "There's simply no evidence that the CPI has overpaid the people who depend on those COLAs to protect the buying power of their benefits. The Consumer Price Index for the Elderly (CPI-E) that surveys the market basket more typical of the majority of Social Security recipients, has shown a significantly greater rise over the CPI used to calculate COLAs through 201The CPI-E would provide a more accurate, and adequate COLA, one more in line with the costs experienced by seniors," Hyland says. … Continued

Social Security arose again at the hearing when Committee Member James Clyburn (SC) commented on the payroll tax cap, which is currently set at 6,800. He suggested that the cap be raised to cover 90 percent of income – as it did in the early 1980s – in an effort to restore the program to solvency. Some Members scowled disapprovingly at this proposal and it is still unclear whether the Committee will even touch Social Security, but if they do, this option could appear on the short-list. Clyburn asked Barthold to research the potential effects of raising the wage cap and to report back to the Joint Committee. .Can You Tell Me What to Expect in The Part D Doughnut Hole? . It depends on whether you can wait just a little bit longer to start benefits.. .A 2.8 percent COLA would be the largest since 2012, but according to The Senior Citizens League's Social Security Policy Analyst Mary Johnson, "Retirees may be disappointed when they learn what the cost of their Medicare premiums and prescription drugs will be for 2019." .Increasing the payroll tax rate. Social Security is currently financed by a 12.4 percent payroll tax, split evenly between employers and employees. Gradually increasing the tax rate to 14.4 percent – just one percent more for both workers and employers – would extend the solvency of the Social Security program for decades to come and would amount to just an extra 50 cents per week for the average worker. .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. .Since 2000, COLAs have increased Social Security benefits a total of 55 percent, yet typical senior expenses through July 2021 grew 104.8%. The average Social Security benefit in 2000 was 6 per month. That benefit grew to ,262.40 by 2021 due to COLA increases. However, because retiree costs are rising at a far more rapid pace than the COLA, this study found that a Social Security benefit of ,671.20 per month (8.80 more) would be required just to maintain the same level of buying power that 6 had in 2000. .5 DIY Holiday Gift Ideas For A Social Security Budget .The budget resolution now heads to the House floor, where its future remains uncertain. Republican leaders in the House have been attempting to win the support of the 40-member conservative Freedom Caucus for weeks, but they have not yet been successful. They will need to rely upon a least a dozen of their votes for its passage. Budget Committee Chairman Tom Price (GA-6) told reporters this week that he is "working with members who are not on the Budget Committee" to build support for it, and that it will be taken up "when we have the votes."