News

  • 2017 Loss Buying Power Study

    To learn more, please visit . .Today we are going to be hearing from people in their own words about Congress's neglect to help the very citizens we are sworn to serve. .Few Employers Withholding Payroll Taxes … Continued

  • The Medicare Tax That Never Made It To The Medicare Trust Fund

    How do I go about contacting the Social Security Administration? .The goal is to prevent fraud and combat identity theft by removing the Social Security numbers. Fraud And Abuse Are Costing Medicare — (And You Too!) The federal government made more than billion in erroneous payments to Medicare Advantage health plans last year. The U.S. Government Accountability Office (GAO) recently testified that nearly 10% of payments to Medicare Advantage plans were improper. Those improper payments are driving up costs not only for Medicare, but also for every person in Medicare Part B. Government To Issue New Medicare Cards Watch Out For Scams! .If the threshold is raised, many seniors who have saved for their entire lives and have carefully planned for retirement will suddenly be faced with hundreds of dollars in extra taxes—on top of the out-of-pocket medical costs they already pay. That's simply unacceptable. … Continued

Your required minimum distribution (RMD) is the minimum amount that you must withdraw from retirement accounts each year. Failure to do so by your deadline can result in a penalty equal to 50% of the required amount not withdrawn. .The Biomedical Advanced Research and Development Authority, a federal agency known as BARDA, is giving Moderna up to 3 million for late-stage development of its vaccine. .Part B — Seniors with incomes of less than ,000 a year pay a base monthly premium of 5.40, in 2011, which would be automatically deducted from your Social Security benefit. Since 2000, Part B premiums have increased about 154%. .In the latest issue of Best Ways to Save, retirees, and those nearing retirement learn: .Payments for neurologist-prescribed brand name, but not generic, drugs in Medicare Part D increased consistently and well above inflation from 2013-2017. .The Senior Citizens League is conducting an online survey of healthcare costs experienced by Medicare beneficiaries and invites seniors and the disabled with Medicare to participate at . The information will be used to educate both lawmakers in Congress and the public about the financial challenges of keeping Medicare affordable for beneficiaries while ensuring program financing remains sound for the future. To learn more about changes to Medicare, get tips on reducing your Medicare costs and to participate in TSCL's new online Medicare healthcare cost survey visit: . .Since people often move when they retire, under locality pay adjustment rates, the area they choose to live in during retirement could significantly impact the amount of Social Security they receive. Would retirees crowd into areas of the country with high locality pay adjustments? .Last week there was major news concerning Social Security, Medicare, and prescription drug prices – or at least so it seemed. But "the devil is in the details" and we will try to sort it out for you below. .The Senior Citizens League proposes that Congress enact an emergency COLA or one - time benefit boost payable for 202TSCL supports legislation that would ensure that COLAs are no less than 3 percent. But the organization also recognizes that the Congressional Budget Office (CBO), in its January 2020 baseline, estimated that a 2.5 percent COLA would be payable for 202Thus, providing a 2.5 percent emergency COLA would provide what has already been projected for Social Security benefits by the CBO.