News
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Medicare Costs Are Rising Heres Where You Are Most At Risk
What We Know and What We are Still Learning .Based on your age, you potentially may be able to use a claiming strategy at your full retirement age (66) that could provide you with a divorced spousal benefit, while you wait for your own benefit to grow. Once you have reached full retirement age you can choose to receive only the divorced spouse's benefit and delay receiving retirement benefits based on your own work record until a later date or when you turn age 70. .How Can We Cope With Debt In Retirement? … Continued
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Congress Is Running Out Of Time
By Mike Watson, TSCL Legislative Assistant .To see if your Members of Congress will be holding town hall meetings during the spring recess, click HERE or call their local offices. You can find contact information HERE. .Can Home Health Agencies Provide Rebates? … 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. .This week, The Senior Citizens League was pleased to see support grow for three important bills that would strengthen the Social Security program if signed into law. .The Senior Citizens League enthusiastically supports S. 2553, S. 2387, and S. 974, and we will continue to advocate for their passage on Capitol Hill in the months ahead. For more information about these and other bills that have been backed by The Senior Citizens League, visit the Bill Tracking section of our website. For frequent progress updates, follow TSCL on Twitter. .In May, I introduced bipartisan legislation with Rep. Joe Heck (NV-R). Our plan, the Medicare Physician Payment Innovation Act (H.R.5707), ends the broken physician reimbursement system and replaces it with a new, long-term plan that will treat physicians fairly, improve patient outcomes, and reduce costs in Medicare. It also sets us on a long-term path toward greater quality, value, and fiscal responsibility in Medicare and will save billions for taxpayers over the long run. This bill has been endorsed by the Fleet Reserve Association, American Academy of Family Physicians, American College of Physicians, the American Geriatrics Society, and other leading organizations. .As a nonpartisan grassroots organization, we make our policy decisions based on only one thing: what is best for senior citizens. .The report attributed the rapid increase to "an aging population, rising health care costs, and an expansion of federal subsidies for health insurance." In 2039, Social Security, Medicare, Medicaid, and other federal healthcare programs are expected to cost approximately 14 percent of the economy, which is double the 7 percent average that has held steady over the past forty years. .If signed into law, H.R. 242 would require the federal government to negotiate lower drug prices on behalf of Medicare Part D beneficiaries. Currently, Medicare is prohibited from doing so despite the fact that other federal health programs are required to. If adopted, H.R. 242 would go a long way in reducing the costs of lifesaving medications for millions of Part D beneficiaries, and it would result in lower spending on prescription drugs for the Medicare program. .TSCL's all-volunteer Board of Trustees and legislative team look forward to working with both new and veteran lawmakers this year on the issues that matter the most to our members and supporters. We will work tirelessly throughout the 114th Congress to ensure that Social Security and Medicare beneficiaries receive the retirement security they have earned and deserve. .Medicare alone does not cover all the costs you will have. Most people also get either a Medicare supplement to cover out-of-pocket costs and Part D plan for prescription drugs, or enroll in a Medicare Advantage plan with Part D coverage.
