News

  • Best Ways To Save July 2014

    Discussion of these meetings centered around the Social Security issues of Notch Fairness and Cost of Living Adjustment (COLA) bills. The goal of these meetings was to secure support, or sponsorship, for these pre-existing pieces of legislation. As a result of our meetings, two Representatives to date have pledged their support for the Notch Fairness Act (H.R. 1001): Jesse Jackson, Jr. (IL-2), and Christopher Smith (NJ-4). .This is a major blow to military retirees whose reasons for settling around a military base included getting the health care they were promised when they agreed to serve a career in the Armed Forces. .While many seniors rely on Social Security for nearly all their retirement income, for others it is part but not all their retirement. Those seniors have investments they rely on to generate the income they need in their retirement years. … Continued

  • Congressional Cornergaramendis Opinion Time Seniors Get Fair Cola

    A government shutdown occurs when Congress fails to pass the appropriations bills that allow agencies to operate. As a result, federal workers and government contractors temporarily don't get paid until after the shutdown has ended. But hitting the debt limit would have far more reaching effects. The debt limit is the legal limit on the total amount of debt the federal government may take on. That limit is especially important to older Americans because the federal government has used trillions in excess payroll tax revenues from the Social Security and Medicare Trust Funds in the past, and now must borrow in order to pay Social Security and Medicare benefits in full and on time. .Much of the debate over federal deficit reduction plans has been focused on overhauling Medicare and making changes to Social Security. But a major funding change is also under consideration for Medicaid, the federal and state program that covers medical care for lower-income individuals including seniors who also receive Medicare. As federal and state governments struggle to address Medicaid funding shortfalls, TSCL is concerned that Notch Babies, and the families who provide care for them, would be among those who would be hit the hardest by funding cuts. .The TSCL legislative team continues to work diligently to promote the issues affecting our members. While much of this week's success was focused on current bills, our team also strives to stay on top of forth-coming legislation yet to be formally introduced. The work of our committed legislative team enables TSCL to keep capable eyes and ears on Congress' inner-workings to better represent the concerns of our valued members. … Continued

Lawmakers at Wednesday's Budget Committee hearing discussed potential solutions to the solvency challenge, including the Social Security 2100 Act (H.R. 860), introduced by Congressman John Larson (CT-1) and cosponsored by more than 200 House lawmakers. Congressman Larson, who testified before the committee members on Wednesday, outlined his Social Security reform proposal in detail. .To learn more about your Medicare benefits download a copy of the "2011 Medicare & You" handbook by visiting www.medicare.gov or call 1-800-MEDICARE ( 7). .For the last couple of weeks we've also reported on a hearing by the House Committee on Oversight and Reform regarding the prices that drug companies are charging for some of their drugs that are critical for the health of many seniors. .In 2018, the Part B premium remained 4 per month. To cover that premium, Barbara, whose Part B premium was 8.00, needed a COLA of at least .00. That was more than the 2% COLA boosted her Social Security benefits. Once again her Part B premium was adjusted and in 2018 she pays a Part B premium of 7.00 per month. In 2019 her COLA will be high enough to catch up to the Part B premium of 5.50 and still leave a small boost for her net Social Security benefits. .In addition, the budget proposal includes more than 0 billion in cuts to Medicare providers, including hospitals, post-acute care providers, skilled nursing facilities, and pharmaceutical companies. According to the White House, these cuts would add five years to the solvency of the Medicare Trust Fund, but TSCL has concerns about how they would affect seniors' access to quality medical care. .Again, according to Bloomberg News, "Manufacturers have to offer Medicaid plans their lowest possible price under federal regulations in order to participate in other federal drug programs, which is likely why the Medicaid prices are so low." .Sen. Conrad's budget proposal is expected to spur serious negotiations on a long-term solution, but it is not expected to win passage. In fact, the Senate will not even vote on or make amendments to the proposal. Sen. Conrad has said that "the timing is not yet right" for a vote, but most have blamed Majority Leader Reid (NV) for refusing to bring a budget proposal to the floor in the midst of an election year. Many Senators, it seems, are beginning to look at the post-election, lame-duck session as the prime opportunity to tackle the deficit. As Sen. Conrad said this week, "That may be the only time members on both sides of the aisle will be willing to move off their fixed positions." TSCL will continue to monitor these negotiations in the meantime. ."Many of the most-expensive medications are the biologic treatments that we often see advertised on television," Mulcahy said. .Obama Urges Lawmakers in the State of the Union Address