

News
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Category Legislative News Page 52
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. .Low-income "dual eligibles" — Medicare beneficiaries whose incomes are so low that they are also eligible for Medicaid. Part B premiums are paid on their behalf by their state Medicaid program (about 19% of beneficiaries).[4] .The Senior Citizens League agrees with Senator Brown, and we oppose the proposal since it would negatively impact Social Security's finances and the retirement security of future beneficiaries. In the days ahead, Senator Marco Rubio (FL) and Senator Joni Ernst (IA) are expected to introduce the proposal as legislation, and TSCL's legislative team will monitor its movement closely. For updates, follow TSCL on Twitter or visit the Legislative News section of our website. … Continued
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High Drug Prices Major Issue Next Congress
Potential amendments to the bill were discussed at the hearing, and at this point in the process it seems that measures to strengthen border security and enhance Congressional oversight will be put forth. One committee member, Sen. Al Franken (MN), stated: "I and other Senators will do everything we can to amend this bill." Members of the Gang of Eight, on the other hand, have said they will band together to defeat any amendments that would weaken it. .Last year, I co-founded the bipartisan House Retirement Security Caucus in order to raise awareness about the importance of properly planning for retirement (and the pitfalls of not doing so). As co-chairman of the caucus, I am committed to making sure the federal government does not make retirement planning more complicated than it should be. Just recently, in response to the Department of Labor's proposed "fiduciary rule" that could restrict Americans' access to financial advice, I voted for the SAVERS Act (H.R. 4294), which would protect such access while also helping to ensure that financial advisors act in the best interest of the retirees and families they serve. .Newly Eligible People with Medicare … Continued
I would like to know how, at this point, you project a Social Security COLA at 6.1%. Inflation would have to continue on an upward path through September for that to happen. — R.Q., NJ .On Wednesday, Congressmen Elijah Cummings (MD-7) and Peter Welch (VT) met with President Donald Trump to discuss the state of the prescription drug industry. At the meeting, they requested President Trump's support for TSCL-backed legislation called the Medicare Prescription Drug Price Negotiation Act (H.R. 242, S. 41), which 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. .Here is an example from the SSA's Inspector General audit report: A beneficiary had been entitled to spousal benefits since February 200The beneficiary had not received retirement benefits (based on her own earnings) and earned delayed retirement credits between full retirement age and age 70. In January 2010, the beneficiary attained age 70, was eligible for a 5 monthly retirement benefit and was receiving a 9 monthly spousal benefit. Had SSA notified the beneficiary she was eligible for the higher retirement benefit, once she applied for those benefits, she could have received an additional ,345 from January 2010 through July 2013. .In the days and weeks ahead, The Senior Citizens League (TSCL) will closely monitor the movement of S. Con. Res. 3 since a repeal of the Affordable Care Act will impact older Americans in several ways. For instance, progress that has been made to close the Medicare Part D prescription drug "doughnut hole" will be reversed, and the Hospital Insurance Trust Fund that finances Medicare Part A will lose a critical stream of funding created by the law. Throughout the 115th Congress, TSCL's legislative team will continue to advocate on Capitol Hill for legislation that would reduce any negative impacts on the Medicare program. .In an ironic twist, the proposal runs counter to Republicans' belief in the free market system and Congressional Republicans have long opposed it, while Democrats, including Senator Bernie Sanders (I-Vt.), have long advocated it. .In addition, your Social Security benefit is likely to be small anyway. When Social Security calculates the initial benefit, the amount of total earnings would be averaged over a 35-year (420 month) period to determine your average monthly earnings. While you become eligible with a little as ten years of earnings total, the SSA will still average your earnings over the 420-month period. This would produce a low average initial benefit amount. Then the WEP adjustment would reduce your initial benefit formula by scaling back the amount of average monthly earnings that would be credited toward your benefit. .Some of our members have told us that they've also joined AARP for the benefits. We're all for seniors saving money, so if you want to join AARP for the discounts, go for it. But we hope you will choose The Senior Citizens League as the group fighting for you on Capitol Hill. .Insurance for Old Age: Are Annuities A Good Idea? .The Consumer Price Index for Elderly Consumers (CPI-E) Act — Congressman John Garamendi (CA-3) introduced the bipartisan CPI-E Act in the 115th Congress, and in TSCL's December meeting with his office, he committed to re-introducing the bill once again in 201If adopted, his bill would enhance Social Security benefits by basing cost-of-living adjustments (COLAs) on an inflation index specifically for seniors. Under current law, COLAs are based on the way young, urban workers spend their money.