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  • Legislation For Coverage Of Hearing Aids Under The Medicare Recently Introduced In Congress

    In addition, the Social Security 2100 Act would improve the program's solvency by applying the payroll tax to income over 0,000 and by gradually increasing the payroll tax rate from 6.2 percent to 7.4 percent – an extra fifty cents per week for the average worker. These two modest changes would ensure that the Social Security program remains solvent through the year 2100 and beyond. .There are two types of U.S. debt: debt held by the public, like U.S. savings bonds, and debt held by government accounts. The Social Security Trust Fund is the single biggest government account holding U.S. debt, with the federal government owing the Trust Fund about .8 trillion. Since 2010, the program has paid out more in benefits than it receives in cash revenues, requiring the U.S. treasury to borrow to pay the interest due on the non-marketable bonds or I.O.U.s held by the Trust Funds — money that is needed to pay the benefits of current beneficiaries. According to a recent TSCL poll, 95 percent of older voters say that money owed to the Social Security Trust Fund should be repaid in full. .The pending cuts are due to a rule, the PAYGO Act, which was passed in 2010 and which corrects for additions to the federal deficit by automatically cutting funding from certain departments and programs. … Continued

  • Congressional Corner Its Time For Seniors To Get A Fair Cola

    I turn 61 this year and I'm still employed. I've read about waiting until my full retirement age before starting Social Security benefits. Is that 66? Do I enroll in Medicare at the same time I start Social Security? .Once non-citizen workers obtain a valid SSN, they can provide SSA with evidence of earnings reports from unauthorized employment prior to receiving their SSN. Their earnings will be reinstated under their valid SSN. In addition when a person files for benefits, a SSA employee reviews the earnings record with the worker and assists to establish any earnings that are not shown or are not correctly posted. .Under current law, the Medicare program is prohibited from negotiating prices with pharmaceutical companies despite the fact that other federal health programs are required to do so. As a result, older Americans enrolled in Part D often pay much higher prices than other American consumers for their prescription drugs. If adopted, this bill would lead to billions of dollars in savings for the Medicare program, and it would immediately reduce prescription drug prices for Medicare Part D beneficiaries. … Continued

What Is the Risk of Catching the Coronavirus on a Plane? .The diagnostics are designed to pick up signs that the human immune system has successfully fought the novel infection, a step many scientists believe will confer some measure of immunity. The AMA said given the uncertainties surrounding the tests -- including about their accuracy -- medical and safety decisions should not be made based on those assumptions. .Medicare and many state Medicaid programs are in the process of transitioning to value-based medicine that would change the way government healthcare programs pay for care. Doctors and healthcare providers are given incentives to improve health and to reduce the incidence of chronic disease — in order to lower spending on healthcare and provide better care at a lower cost. There's emphasis on giving providers single payments for a "bundle of services" instead of paying for each service, checkup or X-ray. This reimbursement system differs from traditional fee-for-service Medicare, as well as Medicare Advantage plans' "capitated" payments, in which providers are paid more for sick patients, regardless of health outcomes. .Both Senate Leader McConnell and President Trump have said they are in no rush to pass another virus-related aid bill, but the Democrats believe it is necessary to get relief out to individuals and businesses as soon as possible. .This week, one new cosponsor, Rep. Michael Fitzpatrick (PA-8) signed on to the Public Servant Retirement Protection Act (H.R. 2797), bringing the cosponsor total up to eight. If signed into law, H.R. 2797 would repeal the windfall elimination provision (WEP) from the Social Security Act and establish a new formula for equalizing benefits for those with non-covered earnings. TSCL is very supportive of the Public Servant Retirement Protection Act since it would go a long way in granting dedicated public servants the retirement security they deserve. We were pleased to see one new cosponsor sign on this week, and we hope that support continues to grow in the coming months. .Consequently, Social Security recipients with the lowest benefits may not see much of an increase at all after Medicare Part B premiums are deducted. Those with benefits of about 0 or less are at risk of seeing the Part B premiums consume their entire COLA, leaving nothing extra left over to deal with other rising costs. .Two Bills Gain New Cosponsors .Congress recognized that benefits would be lower under the new benefit formula provided by the 1977 law changes, but they sought to address the problem of abrupt benefit cuts for those nearing retirement (3). Congress provided a "transitional benefit formula" to phase in the changes for those who would become eligible for Social Security within the first five years of the changeoverЧthose born from 1917 through 192This group of retirees had their benefit calculated two waysЧunder the new benefit formula and under the transitional benefit formula and they received the higher of the two benefits. According to a comprehensive economic analysis by noted economist John Haldi, Ph.D., the transitional benefit formula, however, had significant flaws and in almost every case failed to provide any benefit protection (4). Thus, benefits were sharply and rapidly reduced. .The Senior Citizens League enthusiastically supports the six bills listed above, and we were pleased to see support grow for them this week. For more information about these and other TSCL-backed bills, visit the Bill Tracking section of our website.